One dead as Colombians riot over pyramid schemes

One person has been killed in rioting over the collapse of pyramid schemes which cost investors millions, authorities in Colombia said today.

Police director General Oscar Naranjo said agents have seized 66 offices nationwide belonging to businesses involved in alleged illegal lending and confiscated about $6m (€4.6m).

Gen Naranjo said there have been no arrests so far.

Authorities are investigating whether the companies may have laundered drug money.

Officials said the owner of one of the firms is believed to have fled Colombia. The company’s name translates as Fast Money, Easy Cash.

Police said a public official who tried to calm upset investors was shot dead in southern Colombia on Wednesday night,