In Minsk, a financial pyramid scheme organizer who amassed $750,000 in two years was detained
In Minsk, officers of GUBaziK of the Ministry of Internal Affairs detained a 25-year-old foreign national suspected of creating a financial pyramid scheme.
According to the Ministry of Internal Affairs, over two years, the man took possession of money from citizens of Belarus, Russia, and Georgia who resided in the capital. The total amount of damage, according to preliminary data, amounted to about 750 thousand dollars.
According to the police, the suspect offered acquaintances to invest money in the development of a business selling popular electronics. He received funds as loans, promising repayments with interest, but failed to fulfill his obligations.
The Ministry of Internal Affairs stated that the money was spent on a luxurious lifestyle: plastic surgeries for his wife, holidays at expensive resorts, business-class flights, stays in luxury hotels, purchases of branded items, jewelry, and electronics, as well as visiting restaurants and entertainment venues.
Investigators opened a criminal case under the article on fraud committed on an especially large scale. It provides for up to 12 years of imprisonment.