The organizers of the B2B Jewelry pyramid scheme were informed about the suspicion of new facts of fraud: the company caused almost one million dollars in losses to the state. This was reported by the press centers of the Prosecutor General's Office and the Security Service of Ukraine (SBU).
"The organizers of the scheme offered citizens to invest their funds in the pyramid at high interest rates - from 260 to 416%. After depositing funds, citizens received a confirmation certificate, which did not provide a financial guarantee. A fiscal check was not issued," the press service of the Prosecutor General's Office said.
In addition, it was possible to purchase jewelry in stores, they promised to return money in greater sum. However, the value of the jewelry was significantly higher than the market value. The total amount of losses caused by the pyramid is estimated at almost one million dollars.
In turn, employees of the SBU conducted searches in B2B Jewelry stores and in the residence of the company's leaders. Law enforcement officers seized documents confirming the fact of crimes, property obtained by illegal means, as well as digital items with evidence of illegal activities.
Now the shops are closed, all buildings are sealed. All four persons involved in the proceedings were declared suspicious under three articles of the Criminal Code of Ukraine: the commission of a crime by a group of persons by prior conspiracy, financial fraud and money laundering.
As it was reported earlier, in August, 2020, the SBU has already blocked the activities of the pyramid. Then the criminals embezzled about $250 million.