Gardaí hold firearm after pyramid scheme incident

A FIREARM belonging to the promoter of a controversial pyramid scheme in West Cork is being held by gardaí after the man allegedly made threats against investors who demanded their money back.

Gardaí hold firearm after pyramid scheme incident

The man was interviewed by gardaí last week in the wake of the threats and voluntarily handed over his legally held firearm. He was not arrested prior to being interviewed.

A garda source said the man had been operating Speedball, a pyramid scheme where participants invest €1,000 and hope to get €8,000 in return. Angry investors who failed to get a return on their money had threatened to call to his home. The man subsequently made reference to his firearm.

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