That is the way I understand it It was a scam on people who had life savings and pension money that was lost . They got overwhelmed because the money poured in .
Floortrader, you are correct in that Afinsa was selling shares of a massive stamp inventory that didn't exist. And surely that is the crime for which the principals were prosecuted. They also tried to manipulate Europa stamps and definitely affected the pricing on several Cyprus Europa sets of the early-mid 1960s.