Gardaí are continuing their investigations into pyramid type schemes which are estimated to have brought in up to €20 million in Cork and adjoining counties.
Yesterday gardaí were trying to establish whether pupils in schools in Dunmanway and Bandon have been approached to invest sums of up to €1,000 in smaller scale pyramid schemes which have started in West Cork in the past month.
It is understood that a number of parents have become concerned over reports that secondary school pupils are being approached to club together to form mini-syndicates which each invest €1,000 in the pyramid scheme with the promise of an eight-fold return.
Gardaí confirmed yesterday they received a complaint over the failure of a scheme to pay back a substantial amount of cash to a number of people from the area who invested in the scheme before Christmas. They hope to get more details over the coming days and plan to interview a number of people connected with the scheme.
