Damage from the Life is Good pyramid in Russia amounted to ₽15 billion

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More than 18,000 Russians affected by the Life is Good financial pyramid have lost a total of about ₽15 billion, including in digital assets. This was reported by the representative MIA Irina Volk.

The department 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 community, whose name was not officially named. He is suspected of fraud and illegal money laundering.

According to RIA Novosti, the 53-year-old head of the pyramid is called Roman Vasilenko.

According to a statement from the Ministry of Internal Affairs, the founder of Life is Good legalized ₽158.5 million by purchasing real estate in St. Petersburg and the Leningrad region.

The pyramid has been operating in several regions of Russia since 2014, creating a network of branches. Investors were promised new housing or income of up to 25% per annum. The organization was not engaged in investment activities, and payments to participants were made at the expense of funds from new members.

In March 2022, employees of the Ministry of Internal Affairs stopped the activities of Life is Good. Four suspects were taken into custody, and five more, including the organizer, were put on the wanted list.

During the searches, law enforcement officers seized items and documents of evidentiary value for the investigation.

“As an interim measure to compensate for the material damage caused, the funds of the cooperative were seized. The identities of all the victims as a result of the activities of the financial pyramid are being established, ”Volk said.

Since 2017, Life is Good has been operating on the territory of Ukraine. April 2023 SBU closed the financial pyramid. The attackers scammed more than 1,000 people, receiving about $40 million, according to local authorities.

Recall that in May, the Financial Monitoring Agency of Kazakhstan suspected four citizens of organizing a cryptocurrency pyramid, the damage from which exceeded 124 million tenge (more than $280,000).

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