With the assistance of Rosfinmonitoring Interregional Department in the Northwestern Federal District, a large-scale Ponzi scheme was shut down

Officers of the Main Directorate of the Ministry of Internal Affairs of Russia for St. Petersburg and Leningrad Region, with the support of the Rosfinmonitoring Interregional Department in the Northwestern Federal District and the Northwestern Main Branch of the Bank of Russia, have dismantled a large-scale Ponzi scheme that had been operating since 2022.

According to preliminary information, the scheme was organized by a businessman, with two of his relatives also involved in the criminal activities. Acting through a controlled installation and construction company, the perpetrators attracted funds from individuals under the guise of providing loans. In return, investors were promised high returns — up to 25% annually.

Over the course of several years, the fraudsters collected money from at least 200 individuals, amounting to approximately 600 million rubles. The funds were spent at the discretion of the scheme’s participants.

A criminal case has been initiated under Part 4 of Article 159 of the Criminal Code of the Russian Federation (Fraud). The suspects have been detained.