Mining service supplier faces $100M lawsuit over pyramid scheme allegations in China

5 executives from a mining service are dealing with a lawsuit on the Folks’s Courtroom of Pingan County in China over allegations that they pocketed tens of millions of {dollars} and left traders in wreck.

On Aug. 14, native media reported that the court docket held a public listening to on a case that might probably set a precedent in China for the way crypto schemes are prosecuted and controlled. The lawsuit accuses Shenzhen Area-Time Cloud Know-how executives of organising a pyramid scheme that amassed round $100 million and scammed their traders.

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