Hermes Finance OJSC

Hermes Finance OJSC, often operating under names like Hermes Management Ltd., was an offshore company registered in Belize that positioned itself as an investment firm offering high-yield returns through its "Vista" accounts. The company primarily targeted clients in Russia and other CIS countries. It was closely associated with the "Life is Good" holding company and the "Best Way" housing cooperative. Despite its marketing as a legitimate investment service, extensive investigations and warnings from financial authorities have concluded that the operation exhibited the classic characteristics of a Ponzi or pyramid scheme, where returns to earlier investors were paid using capital from new investors.