Labour threaten pyramid fraudsters with prison

ORGANISERS of rip-off pyramid schemes would face unlimited fines and five years in jail if Labour came to power, the party pledged last night.

Labour’s Kathleen Lynch yesterday put forward a private members bill in the Dáil to outlaw the scam, which has seen people reportedly cheated out of their savings.

Pyramid schemes, like one that started in West Cork and spread through neighbouring counties, operated as a gift scheme for a members’ club.