The Mazandaran Intelligence Police arrested members of a pyramid scheme fraud gang in Sari.
The head of the Intelligence Police of Mazandaran’s Law Enforcement Command announced the arrest of members of a pyramid scheme fraud gang in Sari, stating that so far, the number of complainants and victims exceeds 600, and the fraud amount is over 1,000 billion rials.
Colonel Ali Gheysari explained that for years, individuals using aliases under the guise of investment or pyramid companies have managed to deceive citizens, especially the unaware, with alluring advertisements both in the real and virtual spaces, by promising astronomical and guaranteed profits through the Ponzi scheme pyramid activities. This has created a significant challenge for families, particularly the young job-seeking demographic.
He continued that in this regard, based on received reports, individuals in the Sari area promoted a company titled WDC, engaging in recruitment and pyramid scheme fraud from many people. Given the sensitivity of the matter, it was promptly prioritized by the detectives of the Anti-Forgery and Fraud Department of the Intelligence Police.
The head of the Intelligence Police of Mazandaran province stated that in field investigations, detectives found that two leaders of the mentioned company, with the cooperation of another brother residing in Germany, promoted the WDC network marketing platform in virtual spaces, promising cryptocurrency trades and large profits with a minimum membership of 100 dollars. According to reports, they recruited over 600 people nationwide and ultimately committed fraud. The matter was reported to the judicial authorities, and necessary orders were obtained regarding the investigation, identification, and arrest of the suspects.