Colombia extradites alleged pyramid scammer to US

AP News
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Posted: Jan 05, 2010 9:17 AM

A man convicted of bilking Colombians out of hundreds of millions of dollars in a pyramid scheme has been extradited to the United States.

David Murcia faces indictments on money laundering and conspiracy charges in a New York federal court.

Colombian officials handed him over to U.S. Drug Enforcement Agency agents on Tuesday and he was being flown to New York.

A Colombian court already has sentenced Murcia to more than 30 years in prison for money laundering through a company that drew investors with promises of fantastic interest rates. It collapsed in late 2008. The judge says Murcia took in US$2 billion, and only returned some US$100 million to investors.

Officials say they suspect he was laundering drug money.