Norway’s National Authority for Investigation and Prosecution of Economic and Environmental Crime, or Økokrim, has charged four men for their alleged involvement in a Ponzi scheme that siphoned millions from victims.

In a statement, Økokrim says the modus operandi swindled NOK 900 million ($80.80 million) from thousands of people who joined a multi-level marketing network that recruited members in different places around the world.

The indictment states that the members were deceived into believing they would receive a share in the investments and profits of a highly profitable business with purported stakes in a gas field, mining, and real estate if they purchased product packages of the business’s own cryptocurrencies and shares.

Økokrim asserts that in reality, the business did not make significant investments and had no earnings other than from the deposits of the members. The network laundered the money it received and then distributed it as returns to the top networkers, backers, and existing members.

Økokrim State Prosecutor Joakim Ziesler Berge stated,

“We believe this is a large and extensive fraud. We are talking about a great many victims in many countries who have lost their money and significant sums that have ended up with the defendants.”

The Norwegian Broadcasting Corporation (NRK) reports that the four men are in their 50s, 60s, and 70s.

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