Chinese Law Enforcement Authorities Investigate OneCoin Case

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May 23, it became known that four suspects in the case of fraud and the financial pyramid OneCoin were brought to criminal responsibility and transferred to the court in Hunan in China.

As it became known, the local police studied 106 suspects and returned about 266 million dollars, which were involved in fraud. Also, it is reported that the suspects who were found guilty are required to pay a fine in the amount of 10,000 to 5,000,000 yuan. In addition, all those guilty will be sentenced to 4 years in prison.

It is worth noting that the Chinese government is not the first time dealing with such a scheme and has already detained a number of scammers who created a $ 30 million financial pyramid in 2016.

As it became known, OneCoin, whose head office is in Denmark, intentionally introduced new investors, which made it possible to increase the importance of the coin and create the illusion of the possibility of obtaining high profits.

As it became known, the pyramid was based on 27 accounts, 140 investors of different significance and 2 million users residing in China. As it became known, the scheme involved about 2.3 billion dollars.

This post is also available in: ruРусский

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