Dubious pyramid schemes or money-circulation schemes are looting Indians across economic strata, finds Sucheta Dalal. This will continue since Central and state governments seem unconcerned
Since greed knows no economic barriers, people across the financial spectrum are suckers for fraudulent pyramid or Ponzi schemes that promise quick riches through spectacular returns. They go by many names—multi-level marketing, direct marketing, referral marketing, integrated marketing, network marketing, chain marketing or ‘precision marketing’—as in the case of Speak Asia—which is the latest and most audacious pyramid scheme that has taken the country by storm....
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