News |

WinCapita Case Reaches Court

The WinCapita fraud case reaches court on Wednesday. The main suspects, Hannu Kailajärvi and an unnamed woman, will appear before Vantaa District Court on aggravated fraud charges.

Hannu Kailajärvi
Hannu Kailajärvi Image: Poliisi

Police suspect five people of committing crimes in the central WinCapita organisation, and two of them will appear in court on Wednesday. Three more could face court proceedings later. All the accused deny the charges.

Police believe that the investment clubs operated by the accused gave their members false information, allowing the clubs to collect money under false pretences. The clubs involved went under the names GiiClub, WinClub and WinCapita.

The court will also hear the prosecution argue that the clubs' collection structure resembled a pyramid scheme.

The case is expected to last up to a year. Vantaa District Court has warned that initial trial may last until the autumn, with a judgment expected in December at the earliest.

37mn Euros Missing

Once the Vantaa trial is concluded, prosecutors' attention will turn to WinCapita agents across the country. The investigation has uncovered around 600 suspects from all over Finland.

Claims for damages arising from the case amount to around 37 million euros. Over 10,000 people put more than 100 million euros into what police suspect was Finland’s biggest-ever investment fraud.

Discuss this topic 0 comments

Write a comment

Use a nickname. We don't publish comments using real names.

Stick to the topic. Only comments relevant to the subject will be published.

Reply this question. We want to make sure this comment is not generated automatically.

Your comment will be read by an editor before publication. We want to offer the opportunity for a well-reasoned, quality discussion including a variety of views. For more specific rules of the game, click here.

Latest in: News



Tuesday's papers: Embassy impropriety, Viagra surge, US man's search for Finnish mother

Finnish newspapers on Tuesday featured coverage of the Secretary of State Peter Stenlund's address to Finnish diplomats on Monday. Stenlund voiced concern that the Foreign Ministry's upper management may be covering up for inappropriate behaviour and actions at Finnish embassies. Erectile dysfunction drugs are very popular in Finland. A US man who was given up for adoption in 1962 has taken to Facebook to find his Finnish birth mother.

Our picks