Colombia has extradited its best-known financial swindler to the United States to face charges of money-laundering related to cocaine smuggling.

David Murcia, who masterminded a pyramid scheme that cost thousands of families their savings, was sentenced by the Colombian authorities to 30 years in jail in 2009. Early investors in the scheme earned huge profits. Those who joined later lost all they had invested. Mr Murcia used the investments to buy yachts, luxury cars and rent entire hotels for lavish holidays. It is not clear how much money the scheme involved, but estimates range up to two billion dollars. Part of the money is thought to have proceeded from the underworld to be laundered in the US.

The Colombian capital Bogotá (Photo: Wikipedia)