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Chinese cryptocurrency scam ringleaders jailed in US$2.25 billion Ponzi scheme involving PlusToken platform

Summary:
[unable to retrieve full-text content]A Chinese court has sentenced ringleaders of a multinational cryptocurrency-based pyramid scheme to up to 11 years in prison after they defrauded investors out of 14.8 billion yuan (US.25 billion) worth of cryptocurrencies, according to court documents from the eastern province of Jiangsu.PlusToken, a platform set up by Chen Bo in early 2018, used decentralised ledger technology known as blockchain to attract millions of people who were required to pay their membership fee in cryptocurrencies…

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[unable to retrieve full-text content]
A Chinese court has sentenced ringleaders of a multinational cryptocurrency-based pyramid scheme to up to 11 years in prison after they defrauded investors out of 14.8 billion yuan (US$2.25 billion) worth of cryptocurrencies, according to court documents from the eastern province of Jiangsu.PlusToken, a platform set up by Chen Bo in early 2018, used decentralised ledger technology known as blockchain to attract millions of people who were required to pay their membership fee in cryptocurrencies…

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