Greece Arrests 17 Over Alleged Pyramid Scheme

Greek police have arrested 17 people accused of running a pyramid scheme that promised investors they could double their money in just 50 days.

According to investigators, the scheme attracted at least 10,000 people before withdrawals were suddenly blocked, leaving investors unable to access their money.

Among those arrested are nine military personnel, adding another layer to an already unusual case.

Police also seized around €295,090 in cash, along with dozens of electronic devices that could provide further evidence about how the operation was organized and how the money was handled.

The investigation is still ongoing as authorities work to determine the full scale of the scheme and how much money investors may have lost.

The case is also a reminder of a basic rule when it comes to investing: promises of extremely high returns in a very short period should always be treated with caution.