Jail and fine for mastermind of cryptocurrency investment scam where victims lost $1.1m

SINGAPORE – A mastermind of an elaborate scam ran a firm offering cryptocurrency investment schemes, in which 12 investors parted with more than $1.8 million in total.

Between May 20 that year and Feb 15, 2022, the firm offered the “A&A chain mining scheme” to investors in Singapore. A&A claimed it would generate the revenue for returns through the mining of cryptocurrency by using these machines. DPP Wong said: “In reality, A&A did not enter into an agreement with Yunan Holdings to acquire 70 per cent ownership of 300,000 mining machines. In fact, A&A did not mine cryptocurrency to generate revenue.”

Court documents stated that Yang had directed Chen to collect cash from various investors. Yang then used the money for his personal expenses.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

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Jail, fine for mastermind of cryptocurrency investment scam where victims lost $1.1mDutch national Yang Bin ran a firm called A&A Blockchain Innovation at the time of the offences.
مصدر: The Straits Times - 🏆 8. / 63 اقرأ أكثر »