January 2008
Beginner to intermediate
224 pages
3h 16m
English
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Chapter 13. A couple of the basics
Pyramid schemes
Pyramid schemes have probably been with us since the pyramids in Egypt were being built. This particular scam gets its name from an image of the scam, with the originator of the scam at the apex of the pyramid and an ever-increasing number of participants (and ultimately victims) fanning out from the top. For example, if one person who recruited ten people to pay him started the pyramid, and each of the ten recruits in turn recruited ten more people to pay them, after eleven rounds, the number of people required to sustain the pyramid would exceed the Earth’s population. And therein lies the scam. Ultimately, the pyramid must fall, and people will lose their money.
At its essence, a pyramid scheme ...
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