This article is from page 13 of the 2006-03-14 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 13 JPG
GARDAI in Clare say they have not received any complaints in relation to the pyramid scheme into which several million euro has been invested across the country.
It is understood that at a meeting in Cork recently, Clare was mooted as a target area in which to set up.
The Clare People has learned that plans were afoot to hold a meeting in Clare at the weekend, with a view to recruiting people. While a Garda spokesman confirmed that gardaí were aware that such a meeting was mooted early last week, no complaints were made.
“We had information that there may have been a meeting at one of the hotels in town [Ennis] early last week but nothing came of it. We did not receive any complaints in relation to it,” he said.
Under the scheme, people are encouraged to invest a sum of money – at least €5,000. They are told that if they introduce two others, they will receive an eight-fold return on their investment. The chain starts to break down when others cannot find investors. The scheme which started in west Cork last year has attracted copious amounts of money.
Gardaí in Cork who are investigating the scam are preparing a file for the DPP on the matter.