Ex-Soccer Player Ran £15M Pyramid Scheme, Prosecutor Says - Law360
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By Sophia Dourou (November 29, 2022, 4:32 PM GMT) -- A prosecutor accused a former Premier League soccer player on Tuesday of duping friends and family into investing £15 million ($18 million) in a foreign currency pyramid scheme, as the first day of his London trial got underway....
In the recruitment videos and materials I reviewed, promoters are specifically targeting Black participants, but it's widespread in other communities, too. Personal, church or work relationships are exploited. The schemes involved different groups composed of 15 people divided into four levels: one at the top or center, two on a second level, four on the third, and eight at the bottom. In one version, the incoming eight participants each send $500 — $4,000 total — to the person at the top through PayPal, Venmo or some other cash app.
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