More than 18,000 victims of the Life is Good pyramid in Russia have collectively lost around ₽15 billion, including in digital assets. сообщает Irina Volk, spokeswoman for the Ministry of Internal Affairs.
The agency has opened 13 criminal cases under Part 4 of Article 174.1 of the Criminal Code of the Russian Federation against the organizer of the criminal group, whose name has not been officially disclosed. He is suspected of fraud and illegal money laundering.
According to «РИА Новости», the 53-year-old head of the pyramid is named Roman Vasilenko.
According to the Ministry of Internal Affairs, the Life is Good founder laundered ₽158.5 million through real estate purchases in Saint Petersburg and the Leningrad Oblast.
The pyramid operated in several regions of Russia since 2014, building a network of branches. Depositors were promised new housing or returns of up to 25% per year. The organization did not engage in investment activity, and payments to participants were funded by funds from new members.
In March 2022, police halted Life is Good’s activities. Four suspects were remanded in custody, and another five, including the organizer, were placed on the wanted list.
During searches, law enforcement officers seized items and documents with evidentiary value for the investigation.
“As a precautionary measure to compensate for the material damage, a seizure has been placed on the cooperative’s funds. The identities of all victims resulting from the pyramid’s activities are being established,” Volk said.
Since 2017 Life is Good has operated in Ukraine. In April 2023, the СБУ closed the pyramid. According to local authorities, the perpetrators defrauded more than 1,000 people, obtaining about $40 million.
In May, the Kazakhstan Financial Monitoring Agency accused four citizens of organizing a cryptocurrency pyramid, the damage from which exceeded 124 million tenge (more than $280,000).