In Taipei, a group of Bitcoin con artists have been charged with running an elaborate cryptocurrency scam that defrauded local and foreign investors out of millions of dollars. Authorities formally charged a 47-year-old man surnamed Lin, along with six accomplices, with violating Taiwan‘s Banking and Multi-Level Marketing Supervision acts with a fake Bitcoin investment scam, reports FocusTaiwan. Since October 2016, police say Lin and co. attracted $51 million from over 1,000 Taiwanese investors. The scammers are also charged with defrauding citizens of neighbouring China. Their Ponzi scheme promised returns of up to 355 percent after just one year of Bitcoin investment.… This story continues at The Next WebOr just read more coverage about: Bitcoin
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