Nearly 100 people fell victims of Metamax pyramid scheme in Cyprus

Close to a hundred people have complained they were victims of the pyramid scheme Metamax, Greek Cypriot police said on Tuesday.

According to deputy police spokesman Marinos Vasiliou, 90 people have been conned by the pyramid scheme, which promised them earnings of €3,000 per day. Vasiliou added that he expects the number of complaints related to Metamax to increase in the coming days.

Interpol’s assistance has been requested due to the potential implications of the case in Greece. Additionally, it appears that some suspects who travelled to the Philippines required assistance from the Cyprus consulate in Manila to leave the country.

Three individuals are currently in custody: a retired police officer, aged 63, a 54-year-old man who briefly worked for the police years ago, and a 48-year-old man from Paphos.

According to the complaints, the amount of money extracted from those who have filed complaints has exceeded €200,000.

A special investigative team from the Financial Crime Investigation Office at Limassol Police HQ has been set up to handle the case.