pyramid scheme

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pyramid scheme

n.
A fraudulent moneymaking scheme in which early participants are paid out of money received from later recruits, with the final recruits putting money in and getting nothing back.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.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
References in periodicals archive ?
Government Enterprise and Empowerment Programme (GEEP) on the other hand is tasked with providing collateral and interest-free financial support to businesses at the bottom of the financial pyramid. Funds for the programme are managed by the Bank of Industry (BOI).
The hired guns from the IMF and World Bank, who we have foolishly ensconced at the top of our financial pyramid, will not do what is essential for Pakistan
In our view  it's a sort of a financial pyramid that may collapse at any moment.
Will I be able to provide a financially secured life for my dependents?' The question may, all of a sudden, come as a revelation to most of us, more so for those who form the base of the financial pyramid. The bitter truth, in the Indian context, however, is that the rich, in spite of a financially secured life, are more adept to taking to insurance, compared to the not-so-moneyed.
We find ourselves innovating to meet the most basic of needs which is access to financial services, especially for citizens who sit at the bottom of the financial pyramid."
Armenia's Police has no information about reveal of a financial pyramid in the police system headed by the
“Life insurance is one of the few guarantees your family could rely on to maintain their quality of life if you were no longer there to provide for them, whether you've passed away or not.” Insurance is the foundation of our financial pyramid.
Police detained five people accused of fraud, illegally acquired property and of financial pyramid establishment, and arrested all property which may cover client losses.
The Federal Anti-Monopoly Service (FAS) recognised MMM-2011 as a financial pyramid last year.
"According to on-line reports, the financial pyramid MMM-2011 resumed its activities in Internet and in Kyrgyzstan, which is proved by the billboard on the cross of Kievskaya-Tynystanova streets in Bishkek inviting to participate citizens in the new financial pyramid MMM-2011 owned by Russian entrepreneur Sergey Mavrodi," the National Bank said in its statement.

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