A 73-year-old woman has been jailed in New Caledonia as investigations continue into a huge ponzi scheme.
Photo: 123rf
Media reports said the woman ran a vast network which accumulated about $US10 million that was transferred to Vanuatu.
The reports said the scam ran for two years and involved people buying into a fictitious process to secure the release of the inheritance of a soldier, which promised to yield a big return.
Thousands of people are believed to have bought into the scam, trusting the woman as she was known for her accounting expertise in a kava company.
The reports said some people incurred debts in the expectation of a disbursement.
Her accomplices are free but are reportedly about to be charged.
