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 ?
Residents of the city of Osh, who suffered from the fraud by organizers of the financial pyramid, gathered near the city police station on December 11, Turmush reported.
The Oxfam report claimed that while the richest 62 people added $542 billion to their wealth between 2010 and 2015, the bottom half of the financial pyramid lost about double, just over $1 trillion, in the same period.
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
8221; 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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