Police bust 400 pyramid scheme firms

May 23, 2010 - 0:0

TEHRAN - The Intelligence Ministry has announced that 400 companies involved in pyramid schemes have been identified and forced to discontinue operations in Iran.

So far over 2 million people have been identified in connection with pyramid scheme and will face prosecution, the Intelligence Ministry announced on Thursday.
Most of the said companies were operating in Tehran and a number of them had offices in Malaysia, the United Arab Emirates and Hong Kong, it was reported.