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March 5, 2007
International Pyramid Scheme
A press release of the US Attorney of Oregon, Karin J. Immergut, reports on a recent conviction of a North Carolina man "for his role in spearheading a pyramid scheme, which he promoted in 41 countries, causing more than 5,000 victims to lose a total of $4 million." He was convicted on 29 counts including charges of "mail fraud, money laundering, and tax fraud." The press release notes that "[t]he victims were mainly from the United States, England, and Canada, but also involved victims in Africa and Australia."
(esp)
March 5, 2007 in Fraud, Investigations, Prosecutions, Verdict | Permalink
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The White Collar Crime Prof Blog has a brief description of an International Pyramid Scheme, and the Department of Justice's press release on the Pyramid... [Read More]
Tracked on Mar 14, 2007 3:12:12 PM
