Japanese Police Arrest 55 Men Allegedly Involved In $ 4m Crypto Investment Scheme

Four alleged organizers of” project Oz ” have been arrested after defrauding investors in Japan for at least four years. The plan raised $ 55 million from about 20,000 investors and promised 2.5 times earnings over four months, according to researchers.

Police in Japan’s Aichi Prefecture said Monday that four men have been arrested for investor fraud as part of a cryptocurrency investment scheme called ” Project Oz.”
Police said the group had amassed at least 6 billion yen (about $ 55 million). The number of victims is decimated by between 10,000 and 20,000, according to local media reports.
The four men arrested were Shoji Ishida (59), Yukihiro Yamashita (61), Takuya Hashiyada (46) and Masamichi Toshima (52), according to investigators. Ishida is said to be the operator of the Oz project.
They reportedly convinced investors by promising that crypto investments would increase 2.5 times in four months.

Researchers suspected that a group of people began suffering four years ago by holding seminars across Japan. The group reportedly told investors that their money would be invested in cryptocurrency using an automated artificial intelligence trading system that does not actually exist.

What do you think of this crypto investment plan in Japan? Tell us in the comments below.

Editing, Crypto Scams, cryptocurrency scams, Japanese investor scam, scam scheme, Japanese crypto scams, oz project read more

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