Following the arrest of 109 accused members of the $6 billion Ponzi scheme called Plustoken, six alleged members of the team were prosecuted according to a court filing submitted on Monday. The prosecutors say the individuals are “suspected in organizing and leading criminal pyramid schemes.”

The Plustoken scam was a large heist that managed to gather a large number of crypto assets during the scheme’s short tenure. Essentially Plustoken was a pyramid scheme that pretended to offer high-yield returns after people deposited funds into the system.

The system promised rewards in its native token eponymous token (PLUS) and managed to gather over 200,000 BTC, 26 million EOS, and roughly 789,000 ETH. After the fraudsters racked up all the funds, they left a simple message behind and wrote: “sorry we have run.”

On July 31, news.Bitcoin.com reported on Chinese law enforcement arresting approximately 109 individuals allegedly connected to the Plustoken project.

According to the report, 27 members were reportedly masterminds within Plustoken’s empire which was extremely popular in China and South Korea. Following the mass arrest, a court document from China details that Zhang Qin, Liu Jianghua, Wang Yin, Chen Shaofeng, and Lu Qinghai were named in the indictment.

The formal charges stem from Xiangshui County and Yancheng City prosecutors say the six defendants are “suspected in organizing and leading criminal pyramid schemes.”

Despite the mass arrests, crypto funds from the Plustoken scam have still moved and many people still assume the Ponzi scheme’s kingpin is still on the run. During the scheme’s height before its demise, Plustoken attracted over two million investors.

Reports noted that the Plustoken application allowed people to easily convert KRW or renminbi into a myriad of digital assets.

While BTC, EOS, and ETH were the most popular, Plustoken scammers allowed for the conversion of crypto assets like litecoin (LTC), and dogecoin (DOGE) as well. Back in May, regional reports detailed that key members of the Wotoken project (a similar scam) were indicted in Yancheng City.

Wotoken scammers are allegedly connected with the Plustoken Ponzi ringleaders and that scheme managed to steal $1 billion in digital assets. The Wotoken scheme was not as sizable as Plustoken’s four million members but still managed to swindle 715,000 victims.

What do you think about Yancheng City prosecutors formally charging six members of the Plustoken Ponzi scam? Let us know what you think about this subject in the comments section below.

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