A total of nine people were arrested, including Akihiro Sakamoto, 33, an unemployed man from Minato-ku, Tokyo, and a university student in Osaka. Police believe they collected about 9 million yen from more than 2500,7 people.
The group is believed to have been active in Osaka and Tokyo by calling for investments in crypto assets handled by a Dubai-based company called Market Peak. Police are investigating the incident after receiving inquiries from university students who invested in the fund saying that they could not receive sufficient dividends.