Audiencia Nacional (National Court) building in Madrid. (The Daily Star/FVD via Wikipedia)
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A Spanish man has been sentenced to more than 13 years in jail for running a pyramid scheme that swindled 350 million euros from over 180,000 investors in Europe, the United States and Latin America.Cordona's company, Finanzas Forex, offered returns of as much as 10-20 percent monthly for investments in currencies and instead used the money to buy real estate for himself and colleagues. He was arrested in 2011 in the Mediterranean city of Valencia along with two others.The court said only five percent of the money was invested in currencies and its clients received "ridiculous quantities" in return for their investments.
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