Founder of a cryptocurrency pyramid scheme who stole millions of dollars in cryptocurrency deported to China

As it has become known, Thai police arrested the founder of the MBI Group International cryptocurrency pyramid scheme Theo Wui Huat, who stole billions of dollars in cryptocurrency, and law enforcement officials deported the fraudster to China.

According to local media in Malaysia, Teo Wui Huat (alias Tedi) is on the Interpol red list for fraud and money laundering in excess of 336 million Malaysian ringgit ($ 83 million). Tedi created a cryptocurrency pyramid scheme called MBI Group International, which attracted investors from China, Malaysia, Indonesia, and Macau, and invested the funds received in fiat currency in digital assets. The crypto fraudster also owned a recreation and entertainment complex in Danoka. However, back in 2017, Teo Wui Huat was caught by law enforcement officers and accused of drug trafficking.

The founder of MBI Group International is not the only offender who has been forcibly returned to his homeland. Recently, Ricardo Spagni, co-founder of the anonymous cryptocurrency Monero, was extradited to South Africa. The Monero co-founder is charged with 378 counts. Among them are fraud in the amount of 1.5 million South African rands ($ 93,000), forgery, and disclosure of confidential information. That is why the South African authorities issued an arrest warrant for Spagnucci and asked US law enforcement to detain him for extradition.