One coin have been one of the well know crypto scams out there. The people behind it have been prosecuted for some time now, and it seems like the Chinese have them in custody.
The last people that were suspects in a two year criminal case against the pyramid scheme called OneCoin, have been arrested in Hunan Province in China.
Among the suspects 106 people have been questioned, 98 prosecuted and 1.7 billion yuan or around 266 million dollars were recovered from the investigation stretched through 20 provinces in China. The suspects were fined with a range from 10 thousand to 5 million yuan or about from 1500 to 782 thousand dollars and sentenced for maximum of four years of prison time.
This pyramid scheme had 27 fund pool accounts, more than 140 member levels in different type of costs, and in total of 2 million registered users in China. All in all the final amount of money that were involved in this scheme were more than 15 billion yuan or around 2.3 billion dollars.
OneCoin had been also fined by Italy, that reported an issued fine of 2.5 million euros to the company. The Italian Antitrust and Consumer Protection Authority had labeled the company as a pyramid or ponzi scheme.
Their offices in Bulgaria were also raided earlier this year by the Bulgarian law enforcement in collaboration with the European Union crime fighting unit. At the time there were no arrests.