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Report: Alleged Arcadia-based 'Gemcoin' scam garnered more than $164 million in bogus investments

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A massive Arcadia-based suspected pyramid scheme revolving around a fraudulent, precious stone-backed digital currency called "Gemcoin" has grown five-fold in scope since federal authorities filed their allegations last year, now encompassing $164 in alleged fraud, according to court documents.

The U.


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