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29 Jun 2024 8:19
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  •   Home > News > Business

    A woman's been ordered to pay almost six-million-dollars, for her involvement with a pyramid scheme which saw 83 percent of participants worldwide lose money

    A woman's been ordered to pay almost six-million-dollars, for her involvement with a pyramid scheme which saw 83 percent of participants worldwide lose money

    26 June 2024
    Shelly Cullen promoted and benefited financially from a global cryptocurrency-based scheme called 'Lion's Share'.

    An Auckland District Court Judge labelled the offending at the top of the scale, and handed down a 600-thousand dollar fine and ordered reparation of 5.3-million dollars she gained through the scheme.

    Commerce Commission Deputy Chair, Anne Callinan, says the commission is very pleased that the significant sentence reflects the level of harm caused by pyramid schemes.

    © 2024 Newstalk ZB, NZCity


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     Top Stories

    RUGBY RUGBY
    England coach Steve Borthwick acknowledges his team are firmly in a developmental phase ahead of their upcoming test series against the All Blacks More...


    BUSINESS BUSINESS
    Increased freighting costs may see consumers paying higher prices at the checkout More...



     Today's News

    Law and Order:
    A woman will appear in court after being found to be driving more than 5 times over the legal breath alcohol limit 8:17

    Rugby:
    England coach Steve Borthwick acknowledges his team are firmly in a developmental phase ahead of their upcoming test series against the All Blacks 8:07

    Environment:
    A local State of Emergency remains in place for Wairoa after heavy rain and flooding this week 8:07

    Golf:
    To our sporting 'believe it or not' desk.. 7:57

    Law and Order:
    An alleged murder involving two 'dear friends' and renowned writers has left Samoa 'reeling' in shock 7:57

    Health & Safety:
    A study shows over 200,000 adults struggle with eczema in New Zealand -- however treatment is limited 7:47

    Business:
    Increased freighting costs may see consumers paying higher prices at the checkout 7:37

    Politics:
    There won't be any radical changes to local body voting in Auckland for next year's election 7:27

    International:
    The Tour de France's first doping scandal, 100 years on 7:27

    Rugby League:
    A thrilling end to an NRL nail-biter in Sydney 7:17


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