Norway’s National Authority for Investigation and Prosecution of Economic and Environmental Crime, or Økokrim, has charged four men for their alleged involvement in a Ponzi scheme that siphoned millions from victims. In a statement, the Økokrim says the modus swindled NOK 900 million ($80.80 million) from thousands of people who joined a multi-level marketing network that recruited members in different places around the world. The indictment says the members were deceived into believing they would get a share in the investments and profits of a highly profitable business with purported stakes in a gas field, mining and real estate if they purchase product packages of the business’ own cryptocurrencies and shares. The Økokrim says that in reality, the business did not make significant investments and had no earnings other than from the deposits of the members. The network laundered the money it received and then distributed it as returns to the top networkers, backers and existing members. Says Økokrim State Prosecutor Joakim Ziesler Berge, “We believe this is a large and extensive fraud. We are talking about a great many victims in many countries who have lost their money and significant sums that have ended up with the defendants.” The Norwegian Broadcasting Corporation (NRK) says the four men are in their 50s, 60s and 70s. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Norway Indicts Four Men for Alleged $80,000,000 Crypto Racket That Defrauded Thousands, According to Authorities appeared first on The Daily Hodl .
