José Boutros caused millions in losses to cryptocurrency investors, taking advantage of ties with authorities, according to the Attorney General of Venezuela.
by Gustavo López December 12, 2025 Reading time: 3 minutes
The brand Café Kaldi served as a facade to attract investors in the criminal scheme, according to the report.
The attorney reported that the economic damage resulting from the case exceeds 1.5 million dollars.
José Youssef Boutros, owner of Café Kaldi in Venezuela of Arab origin, was sentenced to 18 years in prison for fraud, money laundering, and criminal association, taking advantage of cryptocurrencies, reported this Wednesday the Attorney General of the country, Tarek William Saab.
The subject, through artifices and with the active participation of a real estate broker, presented false investment proposals to a multitude of victims. And, as the prosecutor communicated, he did not comply with what was agreed, causing a financial damage that exceeds 1.5 million dollars (USD).
The measure comes a year after, in December 2024, announcing the arrest of Boutros after discovering a complex fraud scheme through investigations. At that time, the prosecutor indicated that, through deceit, he made use of cryptocurrencies and fraudulent structures to rob multiple victims.
False promises and intimidation
According to a report from the Public Ministry accessed by the press, Café Kaldi operated as a facade to attract investors: in its locations, currency exchange was offered at the official price of the Central Bank of Venezuela (BCV) or at the value of the tether stablecoin (USDT) in the parallel market, promising lucrative returns.
The report indicates that this was attractive to citizens, but then from the café they warned them that they had to 'cover' their funds before being able to collect them, retaining the money. It also states that the aggressors intimidated the victims by assuring that Boutros maintained close ties with a governor and a high official of the National Armed Forces.
This case adds to a series of investigations into alleged scams related to cryptocurrencies that have affected Venezuelans. As reported by CriptoNoticias, in April the Prosecutor's Office opened an investigation against HV IJEX, a platform accused of operating a Ponzi scheme and leaving around 80,000 people in Venezuela and Colombia without access to their savings, promising quick profits through investments in crypto assets.
