Two promoters of the cryptocurrency Ponzi scheme OneCoin were found dead in Mexico last month. 

According to a report by La Tercera, the bodies identified as Oscar Brito Ibarra and Ignacio Ibarra were found in suitcases by local police on June 30. The report claims the suitcases were amidst garbage bags in a vacant lot in the seaside town of Mazatlan, Sinaloa. Police said the cause of death for both men was suffocation and were treating the case as a double homicide. 

The report claims both men had been kidnapped two days prior to the discovery of their bodies, in the nearby neighborhood of Villa Carey. While police were unable to provide specific details on the murder investigation, the report claims the killings may have been related to drug trafficking.

Mexico witnessed 72 homicides during the month of May alone, as conflict escalated over the succession of kingpin “El Chapo’s” children and his former lieutenant Ismael “Mayo” Zambada. 

Both victims had been involved in promoting the global crypto Ponzi scheme OneCoin. The two men had allegedly convinced numerous individuals to invest in the scam via an entity called Latin American Automotive Marketing Company (CLA), which sold cars in exchange for crypto.

Oscar and Ignacio reportedly used CLA to leverage the Ponzi scheme, telling unsuspecting buyers they would receive a better deal if they used OneCoin to make their purchase. 

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