What is a pyramid scheme? Are they legal in your country?

[Joshua Farrell]

What is a pyramid scheme? Are they legal in your country?

Technically they are illegal here, but that doesn't stop people from participating in them, by labeling them as something else.

 

[Cyrus@21]

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What is a pyramid scheme? Are they legal in your country?

Technically they are illegal here, but that doesn't stop people from participating in them, by labeling them as something else.

Pyramid scheme are literarily not legal in Nigeria, but in one way or the other help in investment.

 

[Shaffy]

I don't believe any country would deliberately legalise pyramid schemes. However, most would leave it at the citizens discretion to participate in it or shun it

 

[Toyoabasi]

Pyramid schemes are not legalised in my country.
However, there are many people who participate in it because it is helpful one way or the other.

What is a pyramid scheme? Are they legal in your country?

Technically they are illegal here, but that doesn't stop people from participating in them, by labeling them as something else.

 

[joy101]

I don't really know about pyramid scheme but I believe is not legal here in my country, and it never stop people never to invest in it so to make money.

 

[eLdavis]

A pyramid scheme can be described as an investment where by after putting In a specific amount as your start up capital or investment, you bring in other persons under you. You usually get your returns from what does you have brought in pays or invest. Pyramid schemes are illegal in my country because they operate without a license, but you can still find them around.

 

[Kaffyfolla]

Pyramid schemes are membership-based schemes, where individuals pay fees to join. The benefits they receive depend mainly on the number of new members that they recruit. Those who join the scheme earlier benefit, for example, from the membership fees paid by the members that they recruit. The scheme collapses when the pool of recruits is depleted. Members who join last may receive no return on the often quite high membership fees that they pay. Fraudsters design or manage these schemes to draw in as many members as possible, knowing that the schemes are not sustainable.

 

[kayode10]

Pyramid scheme is a scam and everyone should have on it. The system is designed to make few people rich at the expense of large people who lose out their money. Those who are the top are the one enjoying the largest package and bonuses.

 

[Sotherefore]

I don't know if people are still engaging in this because something like this over here are not likely to last longer because of the nature of the business, I believe it is still being done by a lot of people but generally it is illegal and the government do not accept it here.

 

[Godspower]

Most pyramid schemes are Ponzi schemes and they are no legal frameworks for their operation in my country. It is very risky to invest in it as they usually promise incredibly high returns on investment.

 

[YERUS]

What is a pyramid scheme? Are they legal in your country?

Technically they are illegal here, but that doesn't stop people from participating in them, by labeling them as something else.

I do not know how well to describe it, but i know they are not legalized in my country.
A lot of people however are into it because according to them it is a good investment method.

 

[Good-Person]

I do not think that a ponzi scheme or a pyramid scheme would be legal in any kind of country because a pyramid scheme is unethical business model. However, there are many businesses that tend to form a pyramid scheme and make it look like a legal investment opportunity that involved real business. These are some of the deceptive companies.

 

[Ghost1]

Pyramid scheme are very illegal. I hate it, this scheme only benefits the first set of people that start it, subsequently people that comes in late lose their money.

 

[Matan_z]

A pyramid scheme is a way to lie to people and take money from each other until there is none to take money from. You open a company and you promise a lot of people an amount of cash for a little amount of cash that they give you, and then you tell the same thing to more and more groups and those groups will pay to the first group and so on, eventually there won't be anyone to pay and participate and then the company, the pyramid scheme fails and the owners go to jail since they own a lot of money to a lot of people. No it is illegal here in Israel.

 

[Setho]

A pyramid scheme is a system whereby you have to bring in a lot of people as your downlines before you can be able to keep on progressing and making more money. There is no law that prohibits people from having pyramid schemes but a lot of people are beginning to become aware that it is all going to end in scam.

 

[Sincerem]

Pyramid scheme can't be legalized in any country because it is an illegal activities which involve a fraudulent extortion of money from organisation or individual from so many people. Over here it is illegal and will continue to remain so.

 

[Setho]

Government officials have constantly warned against investing in pyramid schemes but then they cannot be able to stop people from doing that and a lot of people still end up being scammed.

 

[Smiles20]

A pyramid scheme is usually just a scam site that is definitely going to crash in one way or the other in the future and I have seen government officials always warned people not to invest in them.

 

[Setho]

I don't believe any country would deliberately legalise pyramid schemes. However, most would leave it at the citizens discretion to participate in it or shun it

A lot of countries actually have official announcement discouraging people from investing into this kind of business is but people are always stubborn and in search for quick money.

 

[Shigobad20201]

I am alao hearing about the pyramid scheme in business for the first time , but since its illegal, then that means that it must be a way of making huge amount of money .

I don't really know about pyramid scheme but I believe is not legal here in my country, and it never stop people never to invest in it so to make money.