What is a pyramid scheme?

What is the meaning of pyramid scheme?
Posted 1 year ago  |    0  | 
Corporate Law
Corporate Law

1 Answer(s)

Prateek Kumar
Advocate

A pyramid scheme is a fraudulent system of making money which requires an endless stream of recruits for success. Recruits (a) give money to recruiters and (b) enlist fresh recruits to give them money. These schemes are characterized by the promise of sky-high returns in a short period of time for doing nothing other than handing over your money and getting others to do the same.

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