Crypto Scammers Prey on French Victims from Albania

This image taken from a handout video released by Albanian police shows operators in an alleged cryptocurrency scam call center in Tirana in April 2026. Handout / ALBANIA POLICE/AFP
This image taken from a handout video released by Albanian police shows operators in an alleged cryptocurrency scam call center in Tirana in April 2026. Handout / ALBANIA POLICE/AFP
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Crypto Scammers Prey on French Victims from Albania

This image taken from a handout video released by Albanian police shows operators in an alleged cryptocurrency scam call center in Tirana in April 2026. Handout / ALBANIA POLICE/AFP
This image taken from a handout video released by Albanian police shows operators in an alleged cryptocurrency scam call center in Tirana in April 2026. Handout / ALBANIA POLICE/AFP

Despite facing up to 10 years in jail on fraud charges for allegedly luring people into putting their savings into an Albania-based cryptocurrency investment scam, Jon shows zero remorse.

"I don't see why I should have any qualms if people fall for it," he told AFP in an interview in a Tirana cafe.

The Albanian capital has become a favored location for scam call centers to set up in recent years, according to former policeman Fatjon Softa, thanks to the city's multilingual population, low wages and possibilities to launder funds.

Jon, whose name has been changed to preserve his anonymity, said he modelled himself on Jordan Belfort, the stockbroker who cheats his way to the top, played by Leonardo DiCaprio in the 2013 film "The Wolf of Wall Street".

In a luxury office building in the center of Tirana, Jon would pass himself off as an American as he contacted potential victims he said others had already identified.

"My job was to lure them in and convince them to invest," said Jon, adding that he sometimes felt "proud" of the job he did.

The job earned the twenty-something Albanian 1,450 euros (a little under $1,700) per month before performance bonuses, compared to the country's minimum wage of 500 euros before taxes.

Jon called it an "excellent opportunity, very well paid".

But after six months in the job he is now required to check in with the court every week until he is tried on fraud charges that carry a jail term of three to 10 years.

- French victims -

At the end of April several Albanian scam centers were dismantled, including the one Jon worked in, following an investigation by police in the southwestern French city of Pau.

French investigators had been seeking to track down the scammers since a complaint in 2023 by an investor who lost 30,000 euros investing on a platform called universatrade.io.

They eventually identified 19 French victims who had lost around 1.5 million euros in the scams.

One of those victims, a businesswoman based in the south of France, said her misfortune began by clicking on an ad about investing in oil.

"Ten minutes later I received a call," said Chantal, whose name has also been changed to protect her anonymity.

"My daughter was getting married, I told myself I could make a little bit extra," she added.

Initially Chantal only invested 250 euros, but after seeing her money quickly quadruple she succumbed when advisors asked if she wanted to invest more money. Soon she was in for 80,000 euros.

Chantal said she researched the investment platforms and found them on the internet, with profiles of their advisors on LinkedIn. One even sent a copy of his identity card.

- Ready to 'blow her brains out' -

In December of last year, three months after her initial investment, Chantal had 300,000 euros of gains in her app account and she tried to withdraw the equivalent of 30,000 euros in cryptocurrency.

"That's when everything went down the drain," she said.

Even though she realized there was a problem the scammers had such a tight grip on her -- calling 15 to 20 times per day -- that they persuaded her to continue investing with promises that additional funds would unlock withdrawals.

"They've got you. What can you do? They have your money," said Chantal.

"You don't sleep all night, your brain just can't cope. And the next day, they tell you: 'By noon there has to be this amount, otherwise you won't get your money back,'" she added.

"So you pay the amount. An hour later, they say it'll be in your account. But it's not there. And you cry, you scream your head off."

A lawyer helped Chantal recover part of the money, which she then lost again.

Chantal said finally she "wanted to blow her brains out", but her family saved her from going through with it.

"People say that victims are gullible, but the scams are put together well", they are very "sophisticated", said a source close to the investigation.

- 'They steal your dignity' -

French investigators were eventually able to track the scammers to Albania, and a police raid recovered a computer hard drive with the names and contact information of the French victims.

Five Albanian nationals were arrested, including the suspected mastermind and owner of the call center, who was remanded into custody pending trial.

As Albania does not extradite its citizens, French prosecutors plan to drop their case in favor of their Albanian colleagues, who have promised to seek compensation for French victims.

Chantal wants to testify so others avoid her misfortune.

"They steal more than your money. They steal your dignity," she said.



Jensen Huang Resigns from Nvidia after Affair

FILE PHOTO: NVIDIA’s CEO Jensen Huang attends a media roundtable meeting in Singapore December 6, 2023. REUTERS/Edgar Su/File Photo
FILE PHOTO: NVIDIA’s CEO Jensen Huang attends a media roundtable meeting in Singapore December 6, 2023. REUTERS/Edgar Su/File Photo
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Jensen Huang Resigns from Nvidia after Affair

FILE PHOTO: NVIDIA’s CEO Jensen Huang attends a media roundtable meeting in Singapore December 6, 2023. REUTERS/Edgar Su/File Photo
FILE PHOTO: NVIDIA’s CEO Jensen Huang attends a media roundtable meeting in Singapore December 6, 2023. REUTERS/Edgar Su/File Photo

Nvidia CEO Jensen Huang resigned Thursday after his extramarital affair raised national security concerns, in a spectacular downfall for the longtime head of the chipmaker, a vital player in the artificial intelligence boom.

Huang, who has been synonymous with Nvidia since he co-founded it more than 30 years ago, faced growing calls to resign following his affair with a Chinese businesswoman who reportedly was also acting as a spy for Beijing.

His troubles compounded late Wednesday when media reports said Huang had another affair with an Nvidia employee who reported to him.

The ouster sets off a scramble to find a permanent replacement to lead Nvidia, which did not have a succession plan. The board will consider candidates from both inside and outside the company, the company said in a statement.

The company named Colette Kress, the executive vice president and chief financial officer, as interim chief executive. She became CFO in 2013, overseeing the company's global finance operations. Before that, she worked for three years at Cisco and spent 13 years at Microsoft.

In a statement Thursday, Kress said that Nvidia’s “strength has always come from its people” and that she was “committed to building on the extraordinary foundation Jensen created over the last 33 years.”

The board of directors said Thursday it had also named its first-ever chairman, Harvey C. Jones, an entrepreneur and venture investor.

Nvidia shares tumble at the opening bell Shares of Nvidia tumbled 14% at the opening bell Thursday but pared their losses by midmorning, when they were down 4.2% as the tech-heavy Nasdaq turned positive. The company is due to report earnings Tuesday.

Nvidia’s board had gathered to discuss Huang’s future after revelations about his affair with Alice Huang, a former executive at Singapore-based Megaspeed International suspected of being a Chinese government agent.

The two are not related.

In its first statement since the scandal broke, Megaspeed, a provider of cloud computing services for AI, said Thursday that it takes its obligation to comply with US export control laws “extremely seriously.” The company prominently touts a partnership with Nvidia on its website.

“Megaspeed is committed to working constructively and transparently with the US government,” said the statement signed by its chairman and CEO, Tan Yong Pong, who also goes by James Tan.

Nvidia has said it had “no reason to believe” that either national security or its secrets were compromised, but that its inquiry would examine all available information.

SANTA CLARA, CALIFORNIA - NOVEMBER 12: An Nvidia sign is displayed at the company's headquarters on November 12, 2026 in Santa Clara, California. Benjamin Fanjoy/Getty Images/AFP

Lawmakers still want to question Huang After Huang's exit, US lawmakers were still insisting on questioning him about his interactions with Alice Huang and the company’s security protocols against espionage.

Rep. Brian Mast, chairman of the House Committee on Foreign Affairs, said the committee was in contact with Huang’s team as recently as Wednesday night after putting in an initial request for an interview on Nov. 5. Mast said Huang would receive a subpoena to compel his appearance, if necessary.

Last month, The New York Times reported that US intelligence agencies discovered that Huang had developed a close relationship with Alice Huang — and determined that she was feeding information directly to Beijing. On Monday, US President Donald Trump announced that the FBI was investigating.

(FILES) Nvidia CEO Jensen Huang (R) speaks alongside US President Donald Trump about investing in America, at the White House in Washington, DC, on April 30, 2025. (Photo by Jim WATSON / AFP)

Trump said Thursday that Huang “has done a fantastic job” and added that former Apple CEO Tim Cook was the only one who could replace him. Huang, like many top tech CEOs, was close with Trump.

Megaspeed faced allegations last year that it was illicitly shipping advanced Nvidia computer chips into China, but in December said there was “no evidence” of such exports.

Singaporean authorities said Thursday that they questioned Alice Huang and confiscated her passport last year as part of an investigation into Megaspeed. They concluded that there wasn’t enough evidence that she had committed a crime but suspected she provided “inaccurate information” to downplay her role at Megaspeed and barred her from returning to the country, The Associated Press reported.

China has denied that it attempted to ensnare Jensen Huang, who headed one of the world’s most valuable companies.

Nvidia has become a leader in making chips that power AI, and Huang has lobbied Washington to loosen limits on sales of Nvidia chips to China. In January, he won Trump’s approval to sell Nvidia's H200 chips to China.

Megaspeed said Thursday that it has cooperated with the US Department of Commerce’s Bureau of Industry and Security (BIS), which handles enforcement of national security restrictions on technology exports, and was ready to “cooperate fully with any other relevant US government authority.”

It said it has hired a US law firm to conduct a “comprehensive census” of its computer chips and to verify its export controls.

“Megaspeed welcomes appropriate government scrutiny and is committed to demonstrating through concrete actions that it operates responsibly, transparently, and in accordance with applicable US laws,” it said.

Apart from questions over national security, Megaspeed’s finances also have drawn attention. Its total assets soared roughly 90-fold from late 2023 to 2024, to almost $3 billion, according to Singapore corporate records.

Revenue surged to over $294 million in 2024 from none in 2023.


Study: Most Large Firms Plan Higher Open-weight AI Use to Cap Bills

A photo illustration shows a person holding a smartphone displaying the Anthropic logo in front of the Claude AI logo in Bengaluru on November 11, 2026. (Photo by Idrees MOHAMMED / AFP)
A photo illustration shows a person holding a smartphone displaying the Anthropic logo in front of the Claude AI logo in Bengaluru on November 11, 2026. (Photo by Idrees MOHAMMED / AFP)
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Study: Most Large Firms Plan Higher Open-weight AI Use to Cap Bills

A photo illustration shows a person holding a smartphone displaying the Anthropic logo in front of the Claude AI logo in Bengaluru on November 11, 2026. (Photo by Idrees MOHAMMED / AFP)
A photo illustration shows a person holding a smartphone displaying the Anthropic logo in front of the Claude AI logo in Bengaluru on November 11, 2026. (Photo by Idrees MOHAMMED / AFP)

Nearly 6 in 10 senior executives at large companies plan to increase their use of cheaper open-weight AI models over the next year as AI bills overshoot budgets, a Capgemini study showed on Thursday.

This trend echoes SAP, whose finance chief last month said it was replacing some of its costliest AI models with cheaper ones where performance held up. Anthropic, which launched its IPO roadshow this week, also ⁠warned in its prospectus ⁠that customers may shift to cheaper options, including open-weight models.

Open-weight models, like those from DeepSeek or Mistral, can be downloaded and run anywhere, while closed options, like Claude, ChatGPT or Gemini models, are only accessible from ⁠the cloud.

Some 59% of the surveyed executives said AI spending over the past year had been significantly above their expectations or budgets, by 24% on average, while 53% said they were worried about AI costs — last year, 45% of executives had expressed such concerns.

Open-weight models handled 72% of traffic on OpenRouter, a popular multi-AI provider, in September, though that represented just 27% of ⁠AI ⁠spending, Capgemini said, according to Reuters.

The IT consulting firm said open-weight tokens were on average 87% cheaper than closed ones. Closed models broadly remain in the mix, with half the respondents saying they would retain closed models where the complexity of the task warranted the additional cost.

Capgemini, which is helping companies embed AI into their existing platforms, surveyed 500 executives at enterprises with annual revenue of more than $1 billion in 10 countries.


Nvidia Board Meets to Decide CEO Huang's Future as Leadership Crisis Deepens

(FILE) - NVIDIA President and CEO Jensen Huang speaks during the NVIDIA Constellation All-Employee Celebration in Taipei, Taiwan, 27 May 2026 (reissued on 10 November 2026). EPA/RITCHIE B. TONGO
(FILE) - NVIDIA President and CEO Jensen Huang speaks during the NVIDIA Constellation All-Employee Celebration in Taipei, Taiwan, 27 May 2026 (reissued on 10 November 2026). EPA/RITCHIE B. TONGO
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Nvidia Board Meets to Decide CEO Huang's Future as Leadership Crisis Deepens

(FILE) - NVIDIA President and CEO Jensen Huang speaks during the NVIDIA Constellation All-Employee Celebration in Taipei, Taiwan, 27 May 2026 (reissued on 10 November 2026). EPA/RITCHIE B. TONGO
(FILE) - NVIDIA President and CEO Jensen Huang speaks during the NVIDIA Constellation All-Employee Celebration in Taipei, Taiwan, 27 May 2026 (reissued on 10 November 2026). EPA/RITCHIE B. TONGO

Nvidia's board is meeting to decide whether to oust CEO Jensen Huang, a source familiar with the matter told Reuters, as the world's dominant supplier of AI chips grapples with fallout from reports of two extramarital affairs involving its longtime leader.

Nvidia did not immediately respond to a request for comment on the board meeting, which went late into the night on Wednesday, said Reuters.

The meeting marks a sharp shift from Sunday, when Nvidia's board expressed confidence in Huang and his leadership team. Under Nvidia's bylaws, Huang can be removed "with or without cause" by a majority vote of directors. Nvidia has 11 directors and considers all but Huang independent.

Nvidia's stock slid around 7% in early Frankfurt trading on Thursday after the Wall Street Journal first reported that the company was preparing to fire Huang. If those losses hold, Nvidia will have lost about $600 billion in market value since the board announced its investigation into his relationship with a businesswoman called Alice Huang alleged to be a Chinese spy.

Revelations that US intelligence was probing Alice Huang for facilitating shipments of Nvidia chips to Chinese firms set off a series of events: Wall Street began raising questions about Nvidia's governance and Jensen Huang's personal ‌conduct, while the company's ‌board launched an internal investigation and hired outside counsel. Lawmakers also began to push for tighter curbs on chip ‌exports to ⁠China.

China has denied ⁠the allegations. Reuters was not able to contact Alice Huang for comment.

"The market is starting to price Nvidia without its founder as the likely outcome, not a tail risk," said Armina Rosenberg, portfolio manager and co-founder of Minotaur Capital, which holds Nvidia shares. "Losing Jensen would be a real blow."

Bernstein and Oppenheimer both downgraded Nvidia following the latest developments and Citi cut its target.

"A leadership transition creates an overhang on the stock given his central role in strategy, product vision, customer relationships, and investor confidence," Citi analysts wrote.

NO OBVIOUS SUCCESSOR

Huang's potential departure would leave a leadership vacuum at the roughly $4 trillion chipmaker he co-founded and built over more than three decades to become the top supplier of chips at the center of the global AI boom and US-China technological rivalry.

Huang, 63, has no obvious successor and owns about 3.6% of Nvidia's stock. He also has ⁠dozens of direct reports, underscoring the tight control he maintains over the company.

Bloomberg reported on Wednesday that Nvidia's ‌board has been working with an outside firm to identify potential replacements for Huang, citing a person familiar ‌with the situation.

Rosenberg said Chief Financial Officer Colette Kress, who has held the role for more than a decade, would be the natural choice as an interim CEO, but ‌said the bigger question was who would lead Nvidia's technology roadmap longer term.

Odds on prediction market website Polymarket shifted sharply to show an 88% chance ‌that Huang would resign or be removed by the end of the year. Odds for his successor favored Ian Buck, who oversees the business that serves Nvidia's data center clients.

The leadership upheaval comes just days before investors are set to hear from the company on its financial performance and outlook, with its quarterly results due on November 17.

Earlier on Wednesday, the New York Times reported that Huang had also had an extramarital affair with a company executive who reported to him. The relationship was with Kimberly Powell, Nvidia's vice president of ‌healthcare, the New York Times said, citing five people who worked at the company.

When reached by phone on Wednesday and asked about his relationship with Powell, Huang said, "I don't think you should be talking to me directly." ⁠He then hung up, the New York ⁠Times reported.

Nvidia and Powell did not immediately respond to requests for comment. Reuters could not immediately verify the report.

MARKET FALLOUT

US stock futures sank, with Nasdaq futures down 1%. Micron fell nearly 2% and CoreWeave dropped 6% in after-hours trading. However, shares of rival chipmakers AMD and Broadcom rose 4% and 3%, respectively.

In Asia, Samsung Electronics rose about 1% while SK Hynix dipped 2%, as Nvidia partners and suppliers assess the potential ramifications of Huang's possible ouster.

Investors and analysts said while demand for Nvidia's chips would be unlikely to drop in the near term, the broader universe of companies backed by Nvidia — largely customers building data centers that will use its chips — might suffer.

"They are financing their customers. In these types of booms or bubbles, sometimes all it takes is a slowdown to shift it into the bust phase," said Nick Ferres, chief investment officer at Vantage Point Asset Management in Singapore.

INVESTIGATION WIDENS

In a memo to employees on Sunday, Huang acknowledged being unfaithful to his wife and took "full responsibility," but gave no details about the relationship.

US President Donald Trump said he had spoken to Huang on Monday and the CEO told him that he did not know the woman linked to him was allegedly a spy. Huang is one of Trump's closest allies in Silicon Valley, and the relationship between the two dates to at least 2025.

Huang faces a potential congressional subpoena if he doesn't respond to a request to provide a closed-door briefing about the allegations of his affair with a woman alleged to be a Chinese spy.