PANews reported on December 14 that according to the official account of the Jingde County People's Court, recently, the Anhui Jingde Court concluded a case of organizing and leading pyramid schemes. Seven people including Li, Xiang, and Huang were sentenced to fixed-term imprisonment ranging from two to three years, suspended sentences, and fined.
In 2022, Xu (handled in another case) prepared to develop the "Mobius" project, that is, to issue and promote MBUS (Mobius) virtual currency, cards, etc., so he contacted a certain technology company to write program codes and test websites according to the requirements, and generated four smart contract addresses one after another. Later, Xu contacted Li and others through Liao, and cooperated with Li, Xiang, Huang and seven others to issue MBUS virtual currency and other projects. In the name of investing in virtual currency and derivative project transactions, several people exaggerated the investment prospects of the project, concealed the true source of remuneration and rebates, and required participants to purchase and hold MBUS coins, NFT cards, and MSS coins. They actively developed downline personnel by "pulling people" and organized the hierarchy in a certain order. They directly or indirectly used the number of developed personnel, the amount and quantity of virtual currency and cards purchased as the basis for remuneration or rebates, and defrauded participants of a total of more than 964,300 USDT (1USDT is approximately equal to 1 US dollar, equivalent to approximately 6.39 million yuan).
