• By The Financial District

2 ULTRA-ORTHODOX JEWS NABBED IN BELGIUM OVER WORLD’S BIGGEST PONZI SCHEME

Two members of Antwerp’s ultra-Orthodox community were arrested last week as part of a multi-national investigation into an alleged Ponzi scheme which the European Union Agency for Law Enforcement Cooperation says defrauded 223,000 people in 177 countries out of millions of euros.

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The two men, who were among five detained during a series of raids across Belgium last Tuesday, were later identified in Belgian media as Antwerp moneylenders Mendy Z and Shrage P.


In a photo published in the press, both suspects are dressed in typical ultra-Orthodox fashion, with one of them bearing the side curls typical of members of ultra-Orthodox groups, Samuel Sokol reported for the Israeli newspaper Haaretz late on June 27, 2021.


Using the numbers supplied by EU law enforcement, the Ponzi scheme would appear to be the world’s biggest, with 223,000 victims in 177 countries, for an average of 1,250 per country, far larger and broader than the original Ponzi scheme in the US.



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Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.