pyramid scheme
(redirected from Pyramid saving scheme)

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pyramid scheme

A fraudulent moneymaking scheme in which people are recruited to make payments to others above them in a hierarchy while expecting to receive payments from people recruited below them. Eventually the number of new recruits fails to sustain the payment structure, and the scheme collapses with most people losing the money they paid in.

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Noun

pyramid scheme - a fraudulent scheme in which people are recruited to make payments to the person who recruited them while expecting to receive payments from the persons they recruit; when the number of new recruits fails to sustain the hierarchical payment structure the scheme collapses with most of the participants losing the money they put in

scheme, strategy - an elaborate and systematic plan of action

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pyramid scheme (redirected from Pyramid saving scheme)

pyramid scheme
(redirected from Pyramid saving scheme)