Pyramid schemes: Daylight robbery
Pyramid marketing companies are looting the public easily, while the government watches. Many countries have banned them outright
On any given day, hundreds of pyramid marketing schemes are cashing in on the greed, ignorance and poor financial literacy of millions of people to rob them of their hard-earned savings. In the absence of proper legislation, regulation or registration requirements, these schemes are able to operate quietly and fly below the radar to build up unsustainable pyramids, project a credible business model and payment structure and a cult-like environment to keep people hooked. They come into public gaze only when the payments stop coming in and the founders inevitably decamp with the money....
To continue reading this article, you must be a Premium subscriber...
More in Moneylife
Abhishek, we will miss you terribly... +6121 views
TODAY'S TOP STORIES
Ameet Patel on Budget 2014
What's your say?
What you said
Thanks for casting your votes! View Previous Polls