Fraudsters offered clients to become investors and transfer money to the account of a company that would supposedly “multiply” investments.
The Security Service in Ukraine exposed a Russian financial pyramid scheme worth nearly $40 million. The fraudulent scheme was disguised as a pseudo-investment project Life is good and they even tried to open an office in Kyiv, the SBU press center reported.
The organizers of the “pyramid” offered their clients to become investors and transfer money to the company’s account, which allegedly helps to “multiply” the investments.
The attackers received almost $40 million, while defrauding more than a thousand people.
“To use the “service”, the scammers build their own web resource using the accounts of potential “investors”. The dealers promise the “investors” steady income in the form of “dividends” from in investing in shares of promising world-class businesses,” the report said.
Fraudsters also “guarantee” their clients “bonuses” in case new participants are attracted to the project.
The money earned from the investors is saved by the dealers in their own crypto wallets and bank accounts. According to the investigation, more than 10 people were involved in organizing the scheme. First of all, these are citizens of Russia.
At first, the “project” operated only on the territory of the Russian Federation, but after 2017, they gradually tried to implement it in Ukraine through a massive Internet advertising campaign and opening an office in Kyiv.
After the start of a full-scale invasion of the Russian Federation in Ukraine, the organizers of the “pyramid” wanted to hide their involvement in it. To do this, we built a mechanism for attracting virtual assets through a network of cryptocurrency exchange offices throughout Ukraine.
During searches of the Kiev office and residential addresses of the defendants, computers, mobile phones, accounting and draft records with evidence of illegal activity were found; souvenirs and promotional products, used by dealers to attract “investors”.
Currently, one of the top managers of the “investment project” has been informed of a suspicion of fraud.
Recall that earlier in Kyiv, law enforcement officers blocked the financial online pyramid. Promising income from currency trading, the defendants allocated two million hryvnias.
SBU exposed the financial pyramid B2B Jewelry
news Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.