Police reports over the Metamax pyramid scheme are pouring in on a daily basis with more than100 citizens claiming they have been scammed out of their money.

So far, €200,000 have been reported gone a result of the Metamax pyramid scheme according to police.

Deputy police spokesman Marinos Vasiliou told CNA on Wednesday in the past 24 hours alone, there have been an extra 10 new police reports.

They are almost certain to increase in the upcoming period, he added.

So far, three men aged 63, 54 and 48 are held in custody. The first two are believed to have been part of a team as leading members of Metamax in Cyprus.

Court heard they convinced members of the public to invest money on the platform that promised quick and easy money.

Police has asked Interpol for help.

The 63-year-old was remanded on Monday and is held in Limassol general hospital under guard due to health issues.