In a co-ordinated crackdown involving the FBI, Dubai Police Department and Chinese Ministry of Public Security, 276 people were arrested and at least nine scam centers used for cryptocurrency investment fraud schemes were dismantled.
These centers targeted Americans who have suffered millions of dollars in losses from such schemes, the U.S. Department of Justice said.
The international crackdown last week was spearheaded by the Dubai Police. Among the 275 arrested by Dubai authorities were three defendants charged in the Southern District of California with federal wire fraud and money laundering charges. An additional person was arrested by the Thai Police.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.