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Moneylife » Life » Public Interest » Pyramid schemes: Daylight robbery

Pyramid schemes: Daylight robbery

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Sucheta Dalal | 16/06/2011 09:07 PM | 

pyramid23

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....


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