The events took place between 2015 and 2016, when the pyramid scheme’s creator convinced the first seven people—most of whom were from Bălți—to invest in the fund, promising an annual return of 300%.
He acted as a supervisor (officially a “custodian”) during a “trial period” and recruited his victims, including at seminars held by other members of the criminal group in Ukraine, after which he opened accounts for them on the fund’s website and collected the “invested” money directly at the café where he met with the victims, or at the head office of the bank where they withdrew their money.
According to the verdict of the Chisinau court, one of the victims—a single mother who worked for the convicted man— — stated that he “invited her to a presentation where they told her many stories, claiming it was a long-term fund and that they were going to build apartments; now she realizes that it was all a lie.” They explained to her that if she invested, for example, 100,000 lei, she would be able to receive 300,000 lei in a year. She was also told that she would be able to withdraw money at her discretion, either once a week or once a month.”
However, the promise of this fabulous return was never fulfilled, after the defrauded victims had invested a total of more than 270,000 lei. Some even took out bank loans for this purpose. As a result, the victims filed complaints with law enforcement, and several years later, the case went to trial.
The man will now serve a 2.6-year prison sentence, followed by a 3-year probationary period with a suspended sentence.
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