Jueves, 27 de octubre de 2016

| 2008/12/05 00:00

Colombia Reels After Investment Schemes

Dec 5 -- Scandal Has Riveted Residents, Shaken Economy and Damaged Uribe's Standing.

Colombia Reels After Investment Schemes

The pied piper was a gangly, long-haired entrepreneur whose remarkable success story seemed to augur well for those who invested in his get-rich scheme. David Murcia, 28, had gone from being a traveling salesman making $130 a month to living in a luxury high-rise, driving a Ferrari and forging ties with government officials.

Investigators now say Murcia ran a secretive, hydra-headed enterprise -- part pyramid scheme, part money-laundering business -- that provided investors with returns of up to 300 percent in just a few months. His company, DMG Group Holdings, along with 250 other pyramid schemes nationwide, attracted hundreds of thousands of working-class people starry-eyed with promises of an easy payday.

Read the full story here.

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