 Scammer Who Defrauded Hundreds Of Millions in Crypto Arrested

MBI founder who scammed millions of dollars in crypto arrested.

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MBI Group founder Zhang Yufa was arrested in Thailand on July 22 and will be deported to China.

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The company in question has been selling various financial investment plans and virtual currencies in the mainland since 2009.

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MBI Group had been labeled as a pyramid scheme and a typical Ponzi scheme by several.

Malaysian authorities 2681.7 billion yuan from accounts of the company.

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Some victims revealed that there are tens of thousands of victims in China, and it is estimated that the funds defrauded reached 500 million yuan.

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Zhang Yufa is also wanted by the Macau police for his alleged involvement in a 500 million yuan money laundering case.

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