Spanish national police have arrested 20 people involved in massive Ponzi scheme, Unetenet. The investment company has reportedly swindled 50,000 investors out of €50 million, accordingto major national news outlet El Pais.
Banking giant Citigroup, has developed 3 blockchains and a test cryptocurrency dubbed ‘Citicoin’ to run across them. The bank wants to make sure it is “at the leading edge of [distributed ledger technology]” so it can “exploit the opportunities within it.”
Thai police have arrested four executives of UFun Store Co. Ltd., a business that operates an alleged pyramid scheme.
The company has reportedly made some 14,700 victims from Thailand, Malaysia and Indonesia, with an estimate of 10 billion baht (US$307 million) in possible damages, reported local media outlet Bangkok Post.