In Dagestan, a financial pyramid scheme with a turnover of more than 200 million rubles has been uncovered

In Dagestan the activity of a financial pyramid scheme with a turnover of over 200 million rubles was suppressed. This was reported in the press service of the Ministry of Internal Affairs of the republic on November 20.

"Law enforcers on the facts of numerous appeals of citizens stopped the activities of a commercial organization, which operated on the principle of a financial pyramid scheme. The approximate amount of raised funds - over 200 million rubles", - stated in the message of the department in Telegram-channel.

The firm, registered as a brand of women's clothing, took money from citizens ostensibly for investment deposits in real estate and business. Social networks were used to attract new participants.

With the funds received, the 27-year-old head of the organization bought ready-made business projects, which she registered in her own name. The promised payments were made by attracting new participants.

On this fact, criminal cases have been initiated for the organization of activities to attract funds and fraud.

Earlier, October 7, the organizer of the pyramid scheme, who stole more than Br214 million from citizens, was sentenced to 12 years in a general regime colony. Two of his accomplices were also convicted.