Pyramid schemes and MLMs: Spotting pyramid schemes and MLMs
At a Moneylife Foundation workshop, Sucheta Dalal warned of any scheme that asks you to introduce more members to get extraordinary returns
On 23rd July, speaking at a workshop on “Understanding Pyramid Schemes” organised by Moneylife Foundation, Sucheta Dalal, trustee, explained why we should avoid pyramid schemes and multi-level marketing schemes (MLMs) and how to spot them. She gave the example of Citi Limouzine, which managed to dupe around 6,000 policemen, and a few income-tax and Reserve Bank of India (RBI) officials, as well as officials from Mantralaya (headquarters of the Maharashtra government). She also cited the example ...
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