The Metamax scheme, a fraudulent operation that conned over 100 individuals out of an estimated €200,000, has sparked public outrage and police investigations. Three suspects have been arrested, with Interpol stepping in to aid in seeking justice for the victims. The scam has prompted increased vigilance in the community and educational efforts to combat investment fraud.
The 63yearold former police officer in Limassol is facing charges related to running a pyramid scheme through Metamax, promising investors high returns in cryptocurrencies. The alleged scheme spanned multiple Cypriot towns, resulting in losses of €150,000 for 55 individuals and has left the community reeling from the betrayal of trust, as investigations continue to unfold.
The Metamax pyramid scheme in Paphos involves a 48yearold man accused of swindling €150,000 through false promises of profits based on recruiting new participants, not product sales. Authorities are investigating 55 reports of deception as they seek justice for those affected by this alleged fraudulent operation.
A 54yearold man was arrested in Limassol for operating a pyramid scheme, facing charges of conspiracy to commit a felony, obtaining money under false pretenses, and money laundering. The arrest unfolded late Friday night, shaking the quiet streets of Limassol, as authorities cracked down on the fraudulent scheme that had left victims across multiple districts in financial ruin.
The police in Limassol are investigating a case where a 48yearold individual fell victim to invoice fraud, losing an alarming €178,500 in the process. The scam involved receiving a fake email from a car dealership with altered bank details, leading to the victim making two hefty transfers before realizing the deception.
For similar events like the fake doctor fraud case, it is crucial to exercise caution and verify any unexpected demands for money to protect oneself and loved ones from falling victim to deceptive schemes. Stay alert, stay informed, and report suspicious activities promptly to prevent being ensnared in the web of deceit that preys on unsuspecting individuals.
In Nicosia, a 45yearold man was arrested for posing as a lawyer, swindling over €10,000 from a restaurateur by offering false legal services for employee registration. Now in custody, the accused faces police investigation for his fraudulent actions, shedding light on the importance of verifying professional credentials in a world where deceit can lurk behind a polished facade.
The Cyprus Health and Social Sciences University (KSTU) is embroiled in a diploma fraud scandal involving shareholder Serdal Gunduz and journalist Sefa Karahasan, who faces legal action for their alleged roles in the creation and receipt of counterfeit diplomas. The scandal has triggered a wave of political debate and brought into question the integrity of educational standards in the region, sparking calls for a reevaluation of the education system.
A 56yearold woman caught in a new internet fraud case involving cryptocurrencies has prompted a Police investigation. She fell victim to deceptive online product sales websites, leading to significant financial loss in euros through cryptocurrency transactions.
The Europolled operation dismantled an international cryptocurrency fraud ring, resulting in the arrest of six individuals and seizure of digital and monetary assets. This collaborative effort between Cyprus Police, Austrian, Czech authorities, and Europol showcased the power of crossborder law enforcement cooperation.
