first_imgCrook: FrancoisDESPITE all the warnings and the shameless antics of previous crooks, more Donegal investors have been swindled – in yet another pyramid scheme con.They paid into a scheme run by a man in Co Leitrim which was nothing more than the same con run by French crook Francois de Dietrich.The Frenchman conned millions out of Donegal investors from his office in Ballybofey by telling them he was buying bankrupt stock including planes! Now a new crook has emerged in Leitrim who hooked in more Donegal investors attracted by the same false promises of high returns.But the pyramid scheme is just a con trick – people going in at the start are paid their returns out of money coming in from later investors. It all eventually collapses as the crooks clear off with the bulk of the cash.Officers from the National Fraud Bureau and Criminal Assets Bureau have seized €1M here – but that’s thought to be a fraction of the sums involved.Police in Spain, Holland, Denmark and the UK are helping authorities here. A Leitrim man was questioned and released pending further inquiries.He was quizzed under Section 4 of the Criminal Justice Act During whilst a computer and paperwork were seized.“Exactly how many people here were hooked into the scam may never be known,” said one source.“There is extensive paperwork but it’s not certain that everyone is named. It just beggars belief that any investment can make returns of 2o%, 30% or 40%. It doesn’t happen in the real world.”De Dietrich fled Ireland after being exposed by Donegal Daily as a shameless crook who stole €20M from people in the county. He lives openly in France and has never been arrested, despite a warrant for his arrest issued in Belfast.SHOCK AS DONEGAL INVESTORS SWINDLED YET AGAIN IN PYRAMID SCHEME was last modified: February 26th, 2014 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:BallybofeycashconmancrookdonegalFrancois de DietrichleitrimPyramid schemelast_img

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