HEADLINE: 11 Suspected Members of International Ponzi Scheme “VODA” Arrested in Armenia

January 12, 2022, Yerevan

The Armenian authorities have announced the arrest of 11 individuals suspected of leading an international Ponzi scheme under the guise of VODA. The criminal network, which has been operating since 2013, attracted thousands of unsuspecting victims, mainly from Armenia, Iran, and Canada.

Accused Masterminds of VODA Unveiled

The Investigative Committee disclosed that the operational base of VODA was the UK-registered Vodanet British LTD company. The scheme began in Iran but soon expanded to include Armenian and foreign citizens. Allegedly led by a shadowy organization called VODA, the recruits were promised lucrative business opportunities within an “internationally renowned company.”

Fraudulent Mechanism and Operation

To join the scheme, victims were instructed to create fake hotel bookings on voda.net and vodanet.io and pay between $450 and $21,000. The group targeted many victims across various countries, making it a transnational financial fraud scheme.

Collaboration with Iranian Authorities

In 2018, Iranian authorities launched an investigation into VODA and closed down the Vodanet British LTD company, resulting in the shutdown of its websites and scattering the members among different syndicates. However, some members persisted in reorganizing the group, transforming it into Onyxum and continuing operations in Canada.

Onyxum’s Operations in Canada and Armenia

Onyxum maintained a website and opened offices across Armenia, luring residents with the false promise of substantial profits through guaranteed investments. The public is urged to avoid using Onyxum.com and abstain from any services provided by the corporation’s offices.

Global Crackdown on Transnational Financial Fraud

This case marks the latest in a global effort to eradicate transnational financial fraud aimed at swindling millions of dollars from innocent individuals in multiple countries. Authorities advise the public to be cautious of investment opportunities that necessitate upfront payments or demand the recruitment of new members.