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German and Polish nationals arrested for “Pyramid” scheme fraud

A German and a Polish nationals wanted by Interpol were arrested in Greece and Italy. The two men were involved in serious fraud with a “pyramid scheme” that bought them profit over 28 million euros.

A 60-year-old German man and a 49-year-old Polish man for whom Interpol had issued ‘red notices’ for running a pyramid scheme were arrested in Greece and Italy, respectively, as a result of cross-border cooperation on October 26, 2022.

A pyramid scheme is a fraudulent system of making money based on recruiting an ever-increasing number of “investors.”

The German was arrested at Athens International Airport “Eleftherios Venizelos” by airport police while he attempted to depart for United Arab Emirates.

The Polish suspect was arrested at the same time in Italy.

According to the investigation, their victims exceed 2,000 in Europe and Asia and the illegal profits are 28 million euros.

The 60-year-old German was led before a public prosecutor, who ordered his temporary detainment at Korydallos prison until a request for his extradition is processed.  

Greek police were reportedly instrumental in the arrest of two men and Interpol thanking all law enforcement authorities involved for their immediate response in this major case of financial crime, the Hellenic Police revealed in an announcement on Thursday.

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