Singapore court imposes 6-year prison sentence on Mastermind of Crypto Ponzi scheme

Yang Bin, a 61-year-old Dutch national, was sentenced by a Singapore court to six years in prison and fined S$16,000 for orchestrating a cryptocurrency Ponzi scheme. Yang’s company, A&A Blockchain Innovation, falsely claimed to own 300,000 cryptocurrency mining machines, promising investors a daily return of 0.5%. In reality, the company did not have such (…)