Colombia: Pyramid money scams fall down and take people's savings
By Rocío Arango Giraldo

COLOMBIA:In Colombia, there are pyramids but they weren’t built by the Chibchas or natives. The discovered pyramids are financial pyramids.
Because of them, the country is in shock — from the President and every government minister to all the citizens.
The pyramids are non-legal organizations that receive money and promise a lot in return but later disappear. They leave “investors” asking what happened to their money. These people sold their houses to “invest” in these pyramids. Nowadays, the government has decided to take control of pyramid organizations to get people’s money back to them and to imprison the owners.

Sadness. After the collapse of the pyramids in which people invested their savings, hundreds of people reported to Colombian authorities they had been victims of the scam.
(Source: Jorge Orozco / El Pais)
But people are protesting the government’s decision to take control now instead of doing something when the problem first surfaced. This situation is an example of politics going too far into citizen’s lives. What about freedom of choice? If the government controls the economic activities of the people, it is very bad because it doesn’t permit people to take the liberty of making their own decisions.
At the same time, if the government doesn’t take control, that’s terrible too because it’s not providing regulations on the flow of money.
But that isn’t everything: the police discovered supposed links between the owner of one of the pyramid organizations and political leaders. It’s another case of corruption and provides further evidence of how ethics is lost in political practices.
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