A company called Emgoldex Philippines has been in the news lately because of a Securities and Exchange Commission warning to Filipinos that this is a pyramiding scheme.
That gave me the idea to blog about pyramiding schemes as opposed to multilevel marketing because many times, people view these two as one and the same. Not quite.
Where they look similar
Both pyramiding schemes and multilevel marketing (MLMs) have a similar triangular structure where the base gets wider as each new recruit tries to recruit other members so that they earn from their recruits.
But there are more areas where they differ…
Continue reading “Don’t lose your life savings to pyramiding schemes”