Vanuatu Extradicts Six Chinese Suspects Allegedly Behind PlusToken Pyramid Scheme

By Warren Hayes | July 11, 2019
Vanuatu Extradicts Six Chinese Suspects Allegedly Behind PlusToken Pyramid Scheme

Vanuatu, a nation located in the Pacific Island region, has extradited six Chinese suspects back to their home country. 

Specifically, the suspect was brought into custody during an operation to investigate the PlusToken cryptocurrency platform which, as reported by the Yancheng Public Security Bureau, is a pyramid scheme.

According to the report, the Yancheng police, in cooperation with local Vanuatu police, will be extraditing 6 Chinese citizens involved in the PlusToken fund. These people were brought into custody by the Vanuatu officials, as requested by the Chinese police, and will be handed over to the China government as agreed on previous negotiations.

The Chinese authorities have to conduct extensive, nationwide and outside the border of China investigations against the PlusToken employees, specifically in the Chinese cities Hunan, Beijing, and Jiangsu.

The Yancheng Public Security Bureau became aware of the PlusToken case at the beginning of 2019, after a source told them that the PlusToken platform was operating a pyramid scheme, which led to a police investigation.

The criminals utilized the popular messaging app WeChat to run promotions for the PlusToken platform. Moreover, the promotional events organizes cocktail parties and promotion conferences, taking place in Beijing, Sanya and Jeju Island, and South Korea.

As stated in the report, PlusToken has attracted more than 100,000 users, making over $189 million via membership fees in 10 months (May 2018 and March 2019). Rumour has it that PlusToken actually have over $2.9 billion in possession.

Also in China, police officers were called to the Tron office in Beijing last week due to an angry crowd to protest against a Tron-like ponzi scheme.

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