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12° Nicosia,
15 July, 2024
 
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Retired Cypriot police officer wanted in Metamax pyramid scheme

Police are searching for the retired 63-year old police officer, a Limassol resident

Newsroom

Authorities in Cyprus are actively looking for a 63-year-old Greek Cypriot resident of Limassol in connection with the Metamax pyramid scheme fraud, according to information obtained by our website. A warrant for his arrest has been issued.

The individual in question is reported to be a retired police officer, as per sources familiar with the investigation.

Investors allegedly registered on a specialized platform, receiving access codes to credit their accounts with cryptocurrencies. Bonuses were awarded when they recruited others. When investors discovered the company had closed and were unable to withdraw their funds, they reported the matter to the police.

Another individual, aged 54 and with prior police service spanning 1.5 years from December 1999 to August 2001, has been detained in connection with the same case. The scheme has sparked significant concern among investors, highlighting ongoing issues with financial scams in the region.

Police continue to investigate the extent of the fraud and are urging anyone with relevant information to come forward as they work to apprehend those responsible.

[With information from 24News]

TAGS
Cyprus  |  pyramid scheme  |  crime  |  fraud

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