6 Colombia companies accused of running pyramid scheme

A Colombian business and commerce regulation body warned on Monday against six firms accused of running an online pyramid scheme, reported Bogota-based Radio Santa Fe.

The Financial Superintendent, the regulatory body operated by the Ministry of Finance in charge of monitoring business dealings, announced that theParticipants are then told to invite two or more people to join the scheme.

Companies suspected of running pyramid schemes

  • Wasanga
  • Club Nivel Uno
  • Triamigos
  • Club Amigos 50
  • Los Ocho de Colombia
  • Proyecciones e Inversiones DRFE

The fact that these organizations demand money from citizens without any information on how to physically or indirectly contact a person, they operate exclusively through e-mail and online, reported Colombian business magazine Portafolio.

Money-grabbing schemes have been reported before in Colombia, including a Ponzi scheme that stole over $400 million through the company DMG. The head of the company, David Murcia, was sentenced to nine years in a Florida prison for his actions.

MORE: Ponzi scheme DMG to compensate investors $11.7M

Sources

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