pyramid scheme

fraud pyramid scheme

Pyramid Scheme Suspect in Custody

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.

legal media portrayal

Defense of the Accused in Alleged Pyramid Scheme

Amid allegations of operating a pyramid scheme, the accused in the Metamax case faces intense media scrutiny, with legal defense fighting for a fair trial. Denouncing biased media coverage as a threat to justice, the defense underscores the fundamental principle of ‘innocent until proven guilty,’ urging a balanced narrative to unfold.

fraud financial crimes

Man Arrested for Operating Pyramid Scheme

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.

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