Six women have been convicted of operating a "pyramid" scheme in which thousands of investors lost money.
The "Give and Take" scheme operated in south-west England and south Wales five years ago, Bristol Crown Court heard. The six were all from the Bristol area and each was given a nine month prison sentence. Investigators say more than £20m was invested by about 10,000 members of the public. Three other women were given suspended sentences for promoting the scheme. The group encouraged people to "beg, borrow or steal" £3,000 to put into the scheme between May 2008 and April 2009. It began in Bath and Bristol and spread to Gloucester, Bridgwater, Cheltenham, Torquay, Weston-super-Mare and Wales. Those running the scheme told its investors it had a quick, easy and legal way to make cash - by paying in £3,000 they would receive more than £20,000, as more members joined.....Read more here