Pyramid scheme: Difference between revisions

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Notable cases: tense — pyramid's managers were arrested, and are being prosecuted… → pyramid's managers were arrested, and prosecuted
Notable cases: tense — also reports that some estimates are as high… → also reported that some estimates were as high…
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| date = Nov 13, 2008}}</ref>
 
The ''[[Kyiv Post]]'' reported on 26 November 2008 that American citizen Robert Fletcher (Robert T. Fletcher III; aka "Rob") was arrested by the SBU (Ukraine State Police) after being accused by Ukrainian investors of running a Ponzi scheme and associated pyramid scam netting US$20&nbsp;million. (The ''Kyiv Post'' also reportsreported that some estimates arewere as high as US$150&nbsp;million.)<ref>{{Cite news |url=https://www.kyivpost.com/article/content/ukraine-politics/caught-american-arrested-in-kyiv-on-suspicion-of-f-31310.html |title=Caught! American arrested in Kyiv on suspicion of fraud – Nov. 26, 2008 |date=2008-11-26 |newspaper=Kyiv Post |language=en-US |access-date=2018-07-04|last1=Rachkevych |first1=Mark }}</ref>
 
In the United Kingdom in 2008 and 2009, a £21&nbsp;million pyramid scheme named 'Give and Take' involved at least 10,000 victims in the south-west of England and South Wales. Leaders of the scheme were prosecuted and served time in jail before being ordered to pay £500,000 in compensation and costs in 2015. The cost of bringing the prosecution was in excess of £1.4&nbsp;million.<ref>{{cite web|url=https://www.bbc.co.uk/news/uk-england-bristol-34242680|title=Prosecuting members of a £21m pyramid scheme cost taxpayers £1.4m|date=14 September 2015|website=bbc.co.uk}}</ref>