FX Winning / David Merino Quintana
Summary
FX Winning (also styled FXWinning) was a fraudulent cryptocurrency and foreign exchange investment platform allegedly masterminded by Spanish national David Merino Quintana, a businessman from Gran Canaria, Spain. Spanish authorities, coordinating with Europol, the US Drug Enforcement Administration, and investigators in Mexico and Colombia, allege the platform operated as a Ponzi scheme from approximately 2020 to 2023, collecting funds from up to 15,000 victims across more than 30 countries, with Spanish investigators estimating losses of at least €460 million and total funds collected potentially reaching €46 billion. Merino was arrested in Dubai on June 1, 2026, following an international arrest warrant issued by Spain's Audiencia Nacional, and extradition proceedings to Spain are pending.
Connected Entities
1 entities · 10 linked investigations- + 2 more
Timeline(14 events)
2020-01-01
FX Winning begins operations, offering cryptocurrency and forex investment returns via a multilevel affiliate network operating under We Are Turbo and other brand names across Spain and Latin America.
Victifin / FX Winning investigation overview2021-03-10
Spain's CNMV issues a formal warning that FX Winning is not authorized to provide investment services in Spain.
Finanstilsynet Norway — CNMV Warning FXWINNING2021-01-01
David Merino Quintana formally departs from a public-facing role in FX Winning, though Spanish investigators allege he continued to direct operations from behind the scenes.
Bitget News — FX Winning arrest coverage2022-10-01
The Secret Tours S.L., administered by David Merino Quintana, posts bail for an associate detained in a related matter, according to court records.
Atlantico Hoy — Audiencia Nacional seizure reporting2023-01-01
FX Winning collapses; investors are unable to withdraw funds. The platform had operated from approximately 2020 to this point.
Victifin — FX Winning investigation2023-02-13
Belgium's FSMA issues a formal warning against FXWINNING LIMITED, citing the CNMV's earlier action.
FSMA Belgium — FXWINNING LIMITED warning2023-01-01
Europol joins the Spanish investigation into FX Winning, providing coordination, operational support, strategic analysis, and later deploying a crypto specialist.
Europol press release — Operation Borrelli2023-01-01
Spain's Audiencia Nacional opens case 70/2023 into FX Winning under Central Instruction Court No. 6, Judge Manuel Garcia Castellon, investigating fraud, money laundering, and criminal organization charges.
Atlantico Hoy — DEA and Mexico investigation coverage2024-06-01
The Audiencia Nacional orders provisional detention without bail for Robin Tassilo Laurer and Juan Faber Esquivel, two key alleged associates of Merino.
Atlantico Hoy — FX Winning operations reporting2025-04-01
David Merino dissolves at least one of two UK-registered shell companies in the weeks before the UCO's first enforcement action in the FX Winning case.
El Espanol — FX Winning UK shell companies reporting2025-06-26
Operation Borrelli: UCO agents simultaneously raid properties in Las Palmas de Gran Canaria, Santa Lucia de Tirajana, and Getafe. Five individuals are arrested, and searches are conducted at five locations. Europol provides on-site crypto specialist support.
Europol press release — Operation Borrelli2025-07-29
The Audiencia Nacional orders the seizure of €1 million from The Secret Tours S.L., administered by David Merino Quintana, in connection with the FX Winning investigation.
Atlantico Hoy — Audiencia Nacional seizure reporting2026-03-21
David Merino Quintana releases a public video denying personal responsibility for investor losses, claiming funds are frozen at an unnamed exchange and directing blame toward associate Jose Lucas Cruz.
Canarias7 — David Merino reappears (March 2026)2026-06-01
David Merino Quintana is arrested by UAE Criminal Investigation Department officers at approximately 6:00–7:00 PM local time at a shopping mall in Dubai, pursuant to an Interpol Red Notice at the request of Spain's Audiencia Nacional. Extradition proceedings to Spain begin.
Atlantico Hoy — Arrest in Dubai (June 2026)Decision Log
- #1publish⛓ pending8/10/2026, 12:07:17 PMhash: 9efqxJ7ZByFb4RDv6TVu2JMmHjgoBnmLmrUNxbB8Ldn6
19 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/10/2026, 12:06:56 PM
last updated: 8/11/2026, 10:02:25 AM
avoid.net — verified advice for a post-truth world