Fundraising Scams news and trends

China Breaks Up Massive Pyramid Scheme Involving 82 People

July 25, 2018
China
Quick Reads
China Breaks Up Massive Pyramid Scheme Involving 82 People

July 25, 2018
China has arrested 82 people as part of the busting of a $1.51 billion online pyramid scheme that involved more than 220,000 investors. Reuters, citing the official Xinhua news agency, reported that the scammers drew in investors from Hong Kong, Taiwan and Southeast Asia, as well as mainland China. Prosecutors have 52 suspects who are accused […]