Conmen got €20m from pyramid scams

BENEFICIARIES of two controversial pyramid scams in Ireland allegedly netted €20m in the space of several months, new figures show.

The Liberty Chart System and Speedball schemes swept Cork, Kerry and Clare earlier this year as “investors” were persuaded to part with large sums of money.

Lured by promises of netting even greater sums by recruiting other “investors,” many were left empty-handed as the number of potential recruits dried up and the pyramid scheme collapsed.