Ponzi Schemes: ICAC Suspends Five Employees

The five employees are not part of the staff investigator says in a communication Thursday afternoon April 25, the ICAC. "A formal internal investigation was initiated, conducted by the Intelligence Team of the Commission. Disciplinary actions were initiated on April 15, according to the legal parameters and code of ethics, ethics and internal discipline of the ICAC, "announces the ICAC said that these employees have invested money in financial pyramids.

The employees have been suspended "according to established procedures, pending the outcome of the internal investigation," said the ICAC.

The commission says they can not confirm reports that the employees were acting as agents of the companies complained. "An internal investigation has shown nothing in this regard so far,"the statement said.

The ICAC also participates in investigations of these agencies operate pyramid schemes coordinated by the Asset Recovery Office.