On February 19th, COINOTAG News reported that the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has initiated legal action against four individuals linked to a substantial **fraudulent investment scheme**. This alleged operation swindled approximately **963 million Norwegian Krone**, or around **$86.5 million**, from unsuspecting investors between 2015 and 2018. The perpetrators lured individuals with promises of extraordinary returns from investments in various cryptocurrencies, including **OctaCoin**, **NanoCoin**, and **Ormeus Coin**, yet no real capital activities were undertaken.
The fraudulent scheme primarily targeted victims across multiple countries, including **Sweden**, **Belgium**, **the Netherlands**, and **China**. These investors believed they were supporting legitimate projects such as **Crypto888 Club**, **Octa Partners**, and **Nano Club**, all of which were part of an interconnected Ponzi scheme. Notably, after the failure of Octa Partners, the operation was rebranded multiple times, shifting to **Nano Club**, then to **Crypto888**, and ultimately to **Nano Crowd**, thereby persisting in its deceptive practices.