{"id":543,"date":"2022-05-12T17:18:32","date_gmt":"2022-05-12T09:18:32","guid":{"rendered":"https:\/\/seniorclic.hk\/?p=543"},"modified":"2022-09-15T16:58:57","modified_gmt":"2022-09-15T08:58:57","slug":"pyramid-schemes-2","status":"publish","type":"post","link":"https:\/\/seniorclic.hk\/en\/topics\/smart-elderly\/common-con-tricks\/pyramid-schemes-2\/","title":{"rendered":"Pyramid schemes"},"content":{"rendered":"

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Print<\/a><\/div>\n

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Multilevel marketing scams are also known as Pyramid Schemes. They are occasionally reported in the newspapers, but always after they have collapsed, leaving many people with financial losses.<\/p>\n

Pyramid schemes are schemes designed to make money by recruiting people, rather than by selling legitimate products or providing a service. Income comes from the participation fees that the participants are required to pay. The participation fees that these new participants pay give them the \u201cright\u201d to recruit further new participants and receive income. In other words, the only way for a participant to ever recover any money is to convince other people to join and to part with their money as well. In order to secure a stream of money coming into the scheme to be carved up by the establisher of the scheme and its existing participants, the stream of participants needs to go on and on. Early members may get some dividends but when the pyramid crashes, which it will ultimately do, everybody except the person at the top loses.<\/p>\n

Advice<\/h2>\n