More than 1,500 investors in Italy
were scammed by a fake foreign investment fund gang, Italian
police said after placing 11 people under investigation in
Lombardy, Rome, the province of Pesaro in Marche, and
Switzerland.
The unlucky investors were told they had put their money into
trust funds set up in Bermuda and Lichtenstein, but instead the
alleged gang syphoned off the cash, police said.
Police seized over 21 million euros from the 11 alleged
scammers.
"You have to be careful about easy earnings," said Milan
prosecutor Eugenio Fusco, adding that "the utmost caution must
be shown in the case of investments in closed funds".
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