Pyramid Scheme Pharaoh at Sea with Busted Trusters

The previous day, the investors' organization resolved to demand legislators enact a law On the Return of Investments to Citizens of Ukraine. In addition, trust-busted investors intend to demand from the Cabinet a report on the implementation of Parliament resolutions concerning the redemption of such investments.

Volodymyr Kapustovych, head of the Investor Human Rights Organization, told The Day that various trust partnership and similar entities cheated over 17 million citizens of Ukraine; UAH 155.5 million, over $24,700, and DM 354,000 worth of such investment simply vanished. Three years after Leonid Kuchma, then still Prime Minister, signed a Cabinet decree on trust partnerships (March 1993) approximately four million investors fell prey to their fraudulent practices. »Only eight thousand investors have been able to get back their money with our organization's help,» stressed Mr. Kapustovych.