China Prosecutes 98 Convicts Over OneCoin Pyramid Scam

A news release issued by the Supreme People's Procuratorate issued on Wednesday reveals that prosecutors in China have charged four individual suspects due to their involvement with operating an alleged $2 billion cryptocurrency pyramid scheme known as "Weika Coin" or " OneCoin." 
Earlier the legal process launched in September 2017 and was conducted in three phases. According to the prosecutor, the scheme involved up to 2 million victims and approximately 1.7 billion yuan ($266 million) has been recovered.
There is also a previous report by CoinDesk, the OneCoin scheme, which was founded by Ruja Ignatova, has been scrutinized by police in a number of countries above suspicions that it is fraudulent.
The Bulgarian Special Prosecutor's Office has combined forces with counterparts in the Americas and Europe for further investigate the scheme.
To learn more you can go through the official post by Coindesk.