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 ?
One of the 13,000 complainants in the P12-billion Aman Futures pyramid scam asked the court to junk the petition for bail filed by primary accused former Pagadian City Mayor Samuel Co.
Police have dismissed the speculation as a possible pyramid scam.
Chinese authorities alleged that sometime in April 2012, Zhang conspired with other suspects in setting up a firm called "Bao Ma" which is essentially a pyramid scam that enticed investors with promises of huge returns for their investments.
She - along with other investors, some of whom lost their life savings - will see only a pittance of what they put into the pyramid scam.
Rasuman has been linked to a pyramid scam in Mindanao and Visayas.
Kuala Lumpur, Sept 5 (ANI): Over 70,000 investors, mostly farmers and petty traders from the India's north-eastern state of Manipur, have fallen victim to the multi-million ringgit pyramid scam in Malaysia.
Summary: DUBAI - Rosela Salazar, 48, has been living in the UAE peacefully for 16 years until she fell prey to the cyber pyramid scam in August.
Redolent of a pyramid scam, Bailey's artificially intelligent Pac-Men are mere pawns in his Toastmasters diatribes about video as revenge (episode 2) and how to commit social suicide through isolation (episode 6).
The ex-Nasdaq stock exchange chairman is accused of running a Ponzi scheme - a pyramid scam in which early investors are paid the cash of new clients but neither side know.
stated by Vince Cable, Liberal Democrat treasury spokesmen, to a pyramid scam.
5 billion yen exposure to the alleged pyramid scam.