Mining service provider faces $100M lawsuit over pyramid scheme allegations in China By Cointelegraph
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Five executives from a mining service are facing a lawsuit at the People’s Court of Pingan County in China over allegations that they pocketed millions of dollars and left investors in ruin.
On Aug. 14, local media reported that the court held a public hearing on a case that could potentially set a precedent in China for how crypto schemes are prosecuted and regulated. The lawsuit accuses Shenzhen Space-Time Cloud Technology executives of setting up a pyramid scheme that amassed around $100 million and scammed their investors.
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Five executives from a mining service are facing a lawsuit at the People’s Court of Pingan County in China over allegations that they pocketed millions of dollars and left investors in ruin.
On Aug. 14, local media reported that the court held a public hearing on a case that could potentially set a precedent in China for how crypto schemes are prosecuted and regulated. The lawsuit accuses Shenzhen Space-Time Cloud Technology executives of setting up a pyramid scheme that amassed around $100 million and scammed their investors.
Continue Reading on Coin Telegraph
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