Pyramid schemes dangerous

When something looks and sounds too good to be true, it probably is. Instead of jumping at such “opportunities”, we should actually either run away or sit down to investigate what may be wrong with such a proposal.

And when such “deals” involve money, do not rush to pour money into them without questioning the rationale behind the “investment”.

Yesterday we had a story headlined “Pyramid scheme fails . . . teacher dupes residents” in which a  teacher and her partners were on Friday detained by an angry mob for duping more than 300 people of their money in Epworth.

While this teacher and the committee she was treasurer for could have been at fault for lying to hundreds of people and swindling them of their hard earned cash, the people could also have used common sense to avoid falling into such a clumsy trap.

The teacher and her two colleagues reportedly collected US$5 from each interested person promising to pay them US$75 within a week. They then grouped the joined members into red, green, blue and pink zones with stringent conditions on recruitment of many people before one can receive the unbelievable profit.

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From US$5 to US$75 in a week! Only Jesus can perform such miracles.

Money cannot even double in a week, let alone grow 15 fold.

That cliché that says money does not grow on trees did not just come from nowhere. It was birthed by “too good to be true” schemes like the aforementioned pyramid scheme.

Five dollars does not create 14 other $% notes just because you have given it to a teacher.

Some deals must be taken with a pinch of salt.

It is not surprising therefore that none of the group members received money from the trio – leading to the demonstration.

The pyramid chairperson confirmed receiving money and still believed that had people stuck to their end of the deal he would have given them that astronomical profit within a week.

A number of people among them civil servants have fallen victim to pyramid schemes and some of the perpetrators fled the country while some have pending cases before the courts.

Once you see a deal that sees your money grow large profit without you having invested it into any established business, it should register within your brains that something is wrong.

There should be no need to even verify with anyone because you have not been told what your money is going to buy that will be sold at a profit to earn you the extra money.

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Money does not reproduce; it is made through hard work not these pyramid schemes that only serve to endanger everyone involved.

 

HMETRO