Pyramid Scheme Scam

Pyramid Scheme Scam.

A scam was discovered by authorities after a disgruntled employer reported that the scheme was being promoted in his workplace. A group of women came up with the pyramid scheme also known as the Key to a Fortune scheme, which involved luring victims in with a promise of a £24,000 payout if they reached the top of their pyramid.

The scheme resulted in the founders behind the scheme pocketing up to £92,000 each while 88% of the women they recruited losing out, some as much as £15,000.

The scheme would lure women in with the tempting payout if they reached the top of their pyramid. The pyramid had 15 spaces on that had to be filled, the person at the top would pay £3,000 then refer two friends who also paid that amount. Once that person filled their chart the people at the bottom of the pyramid would pay the person at the top.

The people that managed to complete the pyramid are then invited to a prize pamper party where they would receive their winnings and asked some simple questions before being given the prize money.

A charge of £1,000 is taken from the winnings, £600 was shared between charities and £400 amongst the committee members. The scheme which seemed simple enough would require you to refer two friends before even being allowed to participate. Only 12-18% were ever recognised as winners while the remaining 82-88% lost their money.