Man tried for pyramid scheme

A man aged 33 is accused by prosecutors of misappropriating large amounts of money in a pyramid scheme. The legal case was sent to court, Info-Prim Neo reports, quoting the press service of the General Prosecutor’s Office. The prosecutors have identified eight victims. The man is accused of defrauding the eight American citizens of 742,000 euros and 80,000 dollars during 2006-2008. According to the prosecutors, the suspect promised to invest the money in oil businesses and in purchasing BMW cars at half price, but embezzled it. The victims were expecting to obtain fabulous profits from the oil business. If found guilty, the swindler would serve 10 to 25 years behind bars.