Thousands of Colombians have taken part in violent protests in several cities to demand the return of money invested in disreputable financial schemes.
Thousands of Colombians have taken part in violent protests in several cities to demand the return of money invested in disreputable financial schemes.
Police used batons and tear gas to control angry investors in some of the nine cities where disorder erupted.
Police used batons and tear gas to control angry investors in some of the nine cities where disorder erupted.
In Popayan in the south-western department of Cauca, 2,000 depositors stormed an investment firm's offices.
In Popayan in the south-western department of Cauca, 2,000 depositors stormed an investment firm's offices.
In Pereira, in Risaralda, police caught two men hurrying out the back door of a scheme's office with suitcases of cash.
In Pereira, in Risaralda, police caught two men hurrying out the back door of a scheme's office with suitcases of cash.
They offered one of the cases to the police to let them go.
They offered one of the cases to the police to let them go.
The BBC's Jeremy McDermott in Medellin says they are now in custody and that is the safest place for them, as conned investors have threatened to lynch them.
The BBC's Jeremy McDermott in Medellin says they are now in custody and that is the safest place for them, as conned investors have threatened to lynch them.
'Witchcraft'
'Witchcraft'
Angry investors ransacked many of the offices where they had previously delivered their savings and clashed with police sent to restore order.
Angry investors ransacked many of the offices where they had previously delivered their savings and clashed with police sent to restore order.
In the city of Pasto, in the department of Narino, local television showed depositors looting local businesses.
In the city of Pasto, in the department of Narino, local television showed depositors looting local businesses.
Colombia's vice-president told investors nothing was free in this worldIn Santander de Quilichao, the owners of one pyramid scheme disappeared, leaving a note stuck to the doors taunting the investors for having been duped.
Colombia's vice-president told investors nothing was free in this world In Santander de Quilichao, the owners of one pyramid scheme disappeared, leaving a note stuck to the doors taunting the investors for having been duped.
It said: "Now for being stupid and believing in witchcraft you will have to work much harder to recoup the money you gave us."
It said: "Now for being stupid and believing in witchcraft you will have to work much harder to recoup the money you gave us."
The office of another pyramid scheme had a greetings card stuck on the door which read: "We wish you a sad Christmas and a shameful New Year."
The office of another pyramid scheme had a greetings card stuck on the door which read: "We wish you a sad Christmas and a shameful New Year."
Colombian Vice-President Francisco Santos warned citizens to avoid pyramid schemes.
Colombian Vice-President Francisco Santos warned citizens to avoid pyramid schemes.
"When someone promises to double your money in six months they are trying to trick you," he said. "Nothing is free in this world and that is not going to change."
"When someone promises to double your money in six months they are trying to trick you," he said. "Nothing is free in this world and that is not going to change."
A number of bogus companies have vanished in recent months after promising depositors interest rates as high as 150%.
A number of bogus companies have vanished in recent months after promising depositors interest rates as high as 150%.
Our correspondent says some of the schemes have actually paid out money to investors to launder drug profits.
Our correspondent says some of the schemes have actually paid out money to investors to launder drug profits.
Pyramid investment schemes are said to be often more popular than regular savings accounts in Colombian banks, which charge high fees.
Pyramid investment schemes are said to be often more popular than regular savings accounts in Colombian banks, which charge high fees.
Are you in Colombia? Have you been caught out in the pyramid scam, or do you know anyone who has? Send us your stories:
