Number of Metamax Ponzi Scheme Victims in Cyprus Approaches 100

Nearly 100 people have reported falling victim to the Metamax Ponzi scheme, and the police anticipate a surge in new complaints in the coming days.

According to Limassol police, over 90 individuals have already come forward to law enforcement, claiming to have been defrauded. The organizers of the scheme promised each victim a daily income of around three thousand euros.

Police Deputy Spokesperson Marinos Vassiliou mentioned that they expect the number of complaints related to Metamax to increase significantly in the next few days.

It was revealed in early July that Cypriot police were investigating the well-known Ponzi scheme. At that time, they began collecting complaints from the victims.

The case is being handled by a special team from the Financial Crime Investigation Department.

Given that some victims may be in Greece, Cypriot police have sought assistance from Interpol. Victims have also been identified in Afghanistan and the Philippines.

Additionally, one of the suspects in the case, a 63-year-old man, turned himself in to the police recently.

Currently, three individuals are in custody: a 63-year-old retired police officer, a 54-year-old former police officer, and a 48-year-old resident of Paphos.