What They Are, How to Recognize One » Scammer News

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  • Pyramid schemes are a type of investment fraud where distributors are incentivized to recruit other distributors.
  • The difference between a pyramid scheme and a multi-level marketing business is that pyramid schemes require recruitment for its members to see a profit.
  • Money made from pyramid schemes go to the top of the pyramid as later recruits struggle to find more people to onboard.
  • Read more stories from Personal Finance Insider.

Your acquaintance from high school has messaged you on Facebook trying to sell you an educational course or maybe a cosmetic product, offering you a chance to do what they do and get rich in a few years. You turn off your read receipts and ignore the message because it’s clearly a pyramid…

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