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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.

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