Cryptocurrency pyramid scheme

Criminal charges against the alleged leaders of an multibillion-dollar pyramid scheme involving the sale of a fraudulent cryptocurrency, OneCoin, have been announced. Much of the $1.2 billion of investor money located so far was laundered through at least 21 countries, prosecutors said.

Prosecutors said OneCoin, which still operates, claimed to have more than three million members, who would receive commissions for recruiting new members to buy cryptocurrency packages.

Allegedly, a OneCoin member was told in Las Vegas, Nevada: “If you are here to cash out, leave this room now because you don’t understand what this project is about.”