I am pretty sure that you have heard about the term PONZI SCHEME and PYRAMID SCHEMES a lot either in the news, social media or from friends. It is not something new. It has been in existence for quite a number of years now. “But when you work hard for your money, you do not want to lose it. And if you invest your hard earned money you want to see great returns. But if you are looking to invest your money be careful.” (VOA, Learning English Program). There are many ways that you can be tricked out of your money. There are frauds, schemes and scams carried out by fraudsters, schemers and scammers. Two types of these tricks that you should know about are Ponzi Schemes and Pyramid schemes. This post focuses more on giving a general idea of what a Ponzi scheme is like and what you have to know about Ponzi schemes so that you will not be a victim of such schemes. PYRAMID SCHEME A pyramid scheme is an illegal business in which investors are paid with monies brought in by later inv...
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