Colombia extradites pyramid scheme suspect to face money laundering charges in US

Colombia extradites pyramid scheme suspect to US

BOGOTA, Colombia — Colombia has extradited a suspect in the nation’s most notorious pyramid scheme to face trial in the United States.

William Suarez is wanted by a New York court on money laundering charges.

Colombian authorities allege that the 42-year-old Suarez was the principal partner of his brother-in-law David Murcia, creator of the company DMG.

Authorities say DMG offered investors interest rates far above what banks offer, but was actually a pyramid scheme that bilked Colombians out of millions of dollars.

Gen. Luis Ramirez of the judicial police says Suarez left Colombia Thursday morning on a plane supplied by the U.S. Drug Enforcement Administration.

Murcia was previously extradited to the United States.