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| 11/23/2008 12:00:00 AM

OP-ED: The Colombian 'scheme' catastrophe

Nov 23 -- The Latin American country of Colombia has been plunged into turmoil by the activities of "alternative investment schemes" similar to some schemes in Jamaica. One scheme was even called DFRE which in Spanish stands for "Fast Easy Cash Money".

Three million Colombians had invested well over £200 million in these schemes. Many poor people had borrowed money to invest. The schemes did initially pay out generously. But this was, apparently, because they were simply laundering drug money. Last week the schemes began to collapse.

Colombians reacted with anger and violence. And the country went into meltdown. Three people have died, including one investor who lost all his money and committed suicide.

Read the full column here.
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EDICIÓN 1825

PORTADA

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