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Kyrgyzstan to fine for pyramid schemes advertising

Head of state Sadyr Japarov signed a law on amendments to the Criminal Code concerning penalties for pyramid schemes advertising.

The document was adopted by the Parliament on April 5.

Article 221 of the Criminal Code of the Kyrgyz Republic was supplemented with a separate rule establishing liability for advertising of a pyramid scheme publicly, using the media and Internet resources, associated with causing damage on a large scale. A fine from 150,000 to 200,000 soms is provided for this.

According to the author of the bill, deputy of the Parliament Shaiyrbek Tashiev, at least 766 cases were initiated against pyramid schemes for 10 months of 2022. The damage reached 366 million soms.

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