A member of the Dáil Justice Committee today urged the gardaí to undertake a crackdown on pyramid schemes that have cost Irish people millions of euro.
Dublin South West TD Charlie O'Connor said there has been an upsurge in the get-rich-quick schemes in recent months and that people throughout the country have been targeted.
Dublin South West TD Charlie O'Connor
"I have raised concerns about the scams directly with . . . the Minister for Enterprise who has confirmed to me that a crackdown is on the way," he said.
"While pyramid schemes were outlawed under laws in 1980, schemers have got around the law by rebranding recent scams as 'gifting schemes'.
"It is important that this loophole is closed before more people are cheated out of their hard earned cash," he said.
The Fianna Fáil TD said many investors in one particular scheme have been left out of pocket to the tune of €5,000.
"What has been happening is nothing short of robbery and must not be tolerated," he added.