Newspaper article The Canadian Press

Two Men Arrested in Multimillion-Dollar Pyramid Scheme Operated out of Toronto

Newspaper article The Canadian Press

Two Men Arrested in Multimillion-Dollar Pyramid Scheme Operated out of Toronto

Article excerpt

Two arrested in multimillion pyramid scheme

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TORONTO - Toronto police have charged two men in an alleged multimillion-dollar pyramid scheme that involved thousands of participants around the world.

Police say the scheme -- known as "Banners Broker" -- was operated out of a Toronto address between October 2010 and March 2013.

They say it offered participants the opportunity to double their money by investing in an advertising company that had access to a "globally renowned network."

The scheme's participants were led to believe their investments were being applied towards a program offering payment for the direction of web traffic via referral links.

Police say the program's existence was entirely dependant on the fee-based entry of new members to the scheme, and that little or no real product or service was actually provided. …

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