Authorities in Thailand have arrested prime native OneCoin promoter Mana Chu Mueang.
Mana, who refers to himself as a “cryptocurrency wizard”, is believed to have stolen over 500 million baht from OneCoin victims ($16.3 million USD).
In keeping with Thai authorities, Mueang’s OneCoin Ponzi downline spanned “about ten international locations” in Asia.
Mueang stands accused of ripping off Thai, Vietnamese, South Korean “and different foreigners”, by getting them to put money into OneCoin.
Mueang’s OneCoin pitch noticed him inform potential traders they may
get good income by investing solely 200 days to get 400% instantly.
These guarantees got here crashing down in early 2017 after OneCoin collapsed.
OneCoin’s collapse noticed Mueang go into hiding to keep away from his victims, prompting them to file complaints with Thai police.
On September 4th Mueang was arrested throughout a soccer match. The match was going down in Phichit province, central Thailand.
A number of co-conspirators stay at massive, nevertheless Thai authorities imagine some have already fled the nation.