In China, charges have been brought against the last four suspects in the case of the crypto-pyramid, which allowed the perpetrators to collect $2 billion, CoinDesk writes.
According to a statement issued on Wednesday by the Supreme People’s Procuratorate of China, the prosecutor’s office of Hunan Province brought charges against four persons in connection with the case of the crypto investment scheme Weika Coin. Outside of China, it is known as OneCoin, and its agencies, from simple warnings to investigations, arrests and fines, are run by the agencies of many countries around the world.
The statement says that the trial began in September 2017, and since that time the proceedings have already gone through three stages. The case totals 98 suspects who are accused of deceiving investors from 20 Chinese provinces. Some of the accused have already received up to five years of imprisonment and fines ranging from 10,000 to 5,000,000 yuan (1,565 -783,000 US dollars).
According to the prosecutor, in China the scheme has 140 levels and consists of 7 main pyramids, the victims of which were 2 million people. The total amount of funds received from investors, according to the report, is 15 billion yuan (about $2 billion). Of these, about 1.7 billion yuan ($266 million) were returned.
The fight against the OneCoin crypto investment scheme, founded by Ignatova, is being conducted by the police and regulators not only of China, but also of other countries – because of suspicions of its fraudulent nature.
The authorities of India in April last year arrested several suspects associated with this scheme, and in July, they brought charges against Ignatova herself.
In addition, the Special Prosecutor’s Office of Bulgaria recently joined the investigation of OneCoin’s activities carried out by European and American counterparts.