Tokyo Police Arrest Eight Men In A Cryptocurrency Pyramid Scheme – Shaurya Malwa


Tokyo police arrested eight men on November 14, 2018, for a cryptocurrency-related pyramid scheme that scammed 6,000 people of 7.8 billion yen (approximately $68.42 million). According to Japanese News company Asahi Shimbun on November 16, 2018, the Tokyo Metropolitan Police Department suspected that the arrested men might have violated the Financial Instruments and Exchange Law as they failed to register their business operations with the relevant authorities. The Asahi Shimbun reported that the men were accused of soliciting investments in 2017 from February to May from nine men and women from various ages, ranging from 40 to 72…………..

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