Pyramid schemes definition

Pyramid schemes means plans or promotions organized whereby fees, dues or anything of material value is paid or given by members of the plan to any other member of the plan, which provides for the increase in such membership through a chain process of members securing other new members and thereby advancing themselves in the group to a position where such members in turn receive fees, dues or things of material value from other members (see W. Va. Code § 47-15-1, et seq.)
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Pyramid schemes means any plan or operation in which a person gives consideration for the right or opportunity to receive compensation that is derived primarily from the recruitment of other persons as participants in the plan or operation, rather than from the bona fide sale of goods, services, or intangible property to a person or by persons to others.
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Pyramid schemes means any plan or operation in which a person
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Examples of Pyramid schemes in a sentence

  • Pyramid schemes, also referred to as franchise fraud or chain referral schemes, are marketing and investment frauds in which an individual is offered a distributorship or franchise to market a particular product.

  • Pyramid schemes succeed because the majority of victims invest over and over with larger amounts of cash.

  • Multi-level Marketing: Pyramid schemes, network marketing, and referral marketing programs.

  • Pyramid schemes are lucrative for those who occupy top-level or other like positions and for those who service them.

  • Pyramid schemes inevitably fail when new investors are not recruited quickly enough to pay the promised returns to the earlier investors.

  • Pyramid schemes and other financial frauds can have terrible conse- quences for the poor who are already vulnerable.Problems with generally reputable financial providers can also lead to significant harm over time as when interest rates are kept artificially high, when fees and penalties are levied unnecessarily or when people are sold products that they don’t need or understand.

  • Has engaged in sexual abuse in a prison, jail, lockup, community confinement facility, or other correctional institution.

  • See Leon-Ledesma and Piracha (2001) for an analysis of the role of remit- tances in selected CEECs.3 Pyramid schemes were companies that, by claiming to be engaged in profitable invest-ments, attracted large and increasing volumes of funds from private depositors with promises of dramatically high returns.

  • The Federal Trade Commission’s per- suasive precedent recognizes that pyramid schemes make “the inevitably deceptive representation (con- veyed by their mere existence) that any individual can recoup his or her investment by means of inducing others to invest.”49 Pyramid schemes are inherently deceptive because their very structure conceals the fact that those at the bottom of the pyramid will be unable to recoup their investment.

  • Pyramid schemes follow a pattern that is well known to the sophisticated personnel and systems that support financial services providers, including the Defendant Financial Services Providers.


More Definitions of Pyramid schemes

Pyramid schemes means any plan or operation in which a person gives consideration for the right or opportunity to receive compensation that is derived www.mlmlegal.com primarily from
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Related to Pyramid schemes

  • approved scheme means a share option scheme, other than a savings-related share option scheme, approved under Schedule 4.

  • authorised scheme means Work No. 1A described in paragraph 2 of Part 1 of this licence;

  • Pension Scheme means a contract, an agreement, a trust deed or rules stipulating which retirement benefits are granted and under which conditions;

  • Schemes the Principal Civil Service Pension Scheme available to Civil Servants and employees of bodies under Schedule 1 of the Superannuation Act 1972 (and eligible employees of other bodies admitted to participate under a determination under section 25 of the Public Service Pensions Act 2013), as governed by rules adopted by Parliament; the Partnership Pension Account and its (i) Ill health Benefits Scheme and (ii) Death Benefits Scheme; the Civil Service Additional Voluntary Contribution Scheme; and the Designated Stakeholder Pension Scheme and “alpha” introduced under The Public Service (Civil Servants and Others) Pensions Regulations 2014;

  • Newco Scheme means a scheme of arrangement or analogous proceeding (“Scheme of Arrangement”) which effects the interposition of a limited liability company (“Newco”) between the Shareholders of the Issuer immediately prior to the Scheme of Arrangement (the “Existing Shareholders”) and the Issuer; provided that (i) only ordinary shares or units or equivalent of Newco or depositary or other receipts or certificates representing ordinary shares or units or equivalent of Newco are issued to Existing Shareholders; (ii) immediately after completion of the Scheme of Arrangement the only holders of ordinary shares, units or equivalent of Newco or, as the case may be, the only holders of depositary or other receipts or certificates representing ordinary shares or units or equivalent of Newco, are Existing Shareholders holding in the same proportions as immediately prior to completion of the Scheme of Arrangement; (iii) immediately after completion of the Scheme of Arrangement, Newco is (or one or more wholly-owned Subsidiaries of Newco are) the only shareholder of the Issuer; (iv) all Subsidiaries of the Issuer immediately prior to the Scheme of Arrangement (other than Newco, if Newco is then a Subsidiary of the Issuer) are Subsidiaries of the Issuer (or of Newco) immediately after completion of the Scheme of Arrangement; and (v) immediately after completion of the Scheme of Arrangement the Issuer (or Newco) holds, directly or indirectly, the same percentage of the ordinary share capital and equity share capital of those Subsidiaries as was held by the Issuer immediately prior to the Scheme of Arrangement;

  • Companies Act means the Companies Act, 71 of 2008;

  • approved blood scheme means a scheme established or approved by the Secretary of State, or trust established with funds provided by the Secretary of State, for the purpose of providing compensation in respect of a person having been infected from contaminated blood products;

  • Companies Law means the Companies Law (2018 Revision) of the Cayman Islands, as amended from time to time.

  • Companies Acts means the Companies Acts (as defined in section 2 of the Companies Act 2006), in so far as they apply to the company;

  • Exempt Newco Scheme means a Newco Scheme where, immediately after completion of the relevant Scheme of Arrangement, the ordinary shares or units or equivalent of Newco (or depositary or other receipts or certificates representing ordinary shares or units or equivalent of Newco) are (i) admitted to trading on the Relevant Stock Exchange or (ii) admitted to listing on such other Regulated Market as the Issuer or Newco may determine;

  • ASX means ASX Limited (ACN 008 624 691);

  • Companies Ordinance means the Companies Ordinance (Cap. 622 of the Laws of Hong Kong);

  • Scheme of Arrangement means a scheme of arrangement, share for share exchange or analogous procedure.

  • Journeyman plumber means a person licensed under this chapter as a

  • Pensions means annual payments for life derived from contributions made by the employer that at the time of retirement are credited into the annuity and pension reserve fund from the employers' accumulation fund and paid from the annuity and pension reserve fund as provided in this chapter. All pensions shall be paid in twelve equal monthly installments.