New Zealand woman Shelly Cullen fined a record $5.9m under the Fair Trading Act for promoting pyramid schemes.

Shelly Cullen, a New Zealand woman who admitted to promoting pyramid schemes, has been fined a record $5.9m under the Fair Trading Act. She faces the largest penalties imposed on an individual for such offences, with over 83% of participants in her 'Lion's Share' scheme losing money. Cullen, who marketed herself as a prominent scammer, did not attend her sentencing; she is believed to be overseas.