The dismembered remains of a wealthy individual, known for their involvement in the cryptocurrency and gambling industries, were discovered concealed in suitcases.

Posted on: July 31, 2023, 08:55h. 

Last updated on: July 31, 2023, 08:55h.

Fernando Pérez Algaba had nearly one million Instagram followers, where he promoted luxury vehicle rentals and cryptocurrency investments. When not on social media, he enjoyed gambling, and it may have cost him his life in Argentina.

Fernando Pérez Algaba in a social media post with one of his dogs
Fernando Pérez Algaba in a social media post with one of his dogs. The alleged cryptocurrency millionaire’s body was dismembered and stuffed in suitcases, possibly over bad debt. (Image: A24)

A week ago, Argentine police found Algaba’s limbs inside a suitcase. Last Wednesday, they found the head and torso. Police had started to search for him on July 19 after the owner of an apartment he rented filed a complaint when he couldn’t reach Algaba.

The Buenos Aires police discovered his arms and legs in a suitcase in a stream in the city of Ingeniero Budge. They then found his head and torso as they continued to search the area. The 41-year-old had allegedly been dismembered and stuffed in the suitcases in retaliation for unpaid debts.

Unfortunate Journey

Algaba had arrived in Buenos Aires from Barcelona, Spain, having previously lived in the US. He presented himself as a financial asset trader who had “made a fortune” in Miami before choosing Argentina as his next destination.

According to various interviews he gave to media outlets over the years, Algaba appeared to have a luxurious lifestyle. He frequently showcased expensive cars, European vacations, and two French bulldogs (one of which was found wandering the streets four days after Algaba’s torso was discovered).

However, as reported by Télam, Algaba had unpaid taxes to the Argentine tax agency and his company, which was launched in January 2018, started bouncing checks less than a year later.

During the investigation into his disappearance, it was revealed that he also lost a significant amount of money in a cryptocurrency business. An ominous message, “If something happens to me, everyone is already warned,” was found on his phone during analysis by investigators.

Furthermore, he took loans from criminal gangs in Argentina in an attempt to recover his losses, which likely led to the attack. Algaba was known to enjoy gambling but ended up digging himself into a deeper financial hole. He reportedly owed $40,000 to one individual and $70,000 to another.

Long List of Suspects

If they do not receive their money, the individuals who provided the loans take revenge in their own ways. The $40,000 he borrowed was from an alleged member, identified only by his last name Iglesias, of the Argentine soccer team Boca Juniors’ “barra brava.”

This group of team fans has a tendency for violence. In 2019, the government banned 128 members from entering soccer stadiums in the country due to their uncontrollable behavior.

But Iglesias was not the only one seeking revenge. Another individual threatened to decapitate Algaba, saying, “I’m telling you that I’m going to rip off your head. The money is mine, and you don’t mess with what’s mine.”

The Buenos Aires Provincial Security Minister has made one arrest so far, an unidentified woman tracked through documents found in one of the suitcases. However, investigators are reportedly following several promising leads and plan to make more arrests soon.

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