Our need to believe in miracles and magic makes us susceptible to tricksters.
Tag - pyramid scheme
“I really never thought it would happen to me," says Tammy about her experience of being fleeced to the tune of hundreds of thousands of rands in a Ponzi scheme.
It can be mathematically proven that pyramid schemes or Ponzi schemes will eventually collapse and leave investors with nothing.
The risks behind MMM are enormous and apparent.
MMM looks to be a typical pyramid scheme, and investors should think very carefully before getting involved.
“I saw a website about an investment called DefenceX. It pays R2 for every R100 a day. Is this operating legally?” asks Mpho Maya replies: I am hoping that the fact that they were paying out such a high rate of return (effectively 60% a month) is what made you suspicious of the product. That is always the first rule of thumb, if it looks too...