Pyramid Schemes
latest news & developments
High cost of get-rich-quick scams
South Africans are often swindled out of their savings by slick con artists. People need to ask questions and be wary of tempting offers
Rich pickings for Russian con artist
A convicted fraudster is separating gullible South Africans from their money in a scheme with its very own seductive liberation ideology.
SA police bust HIV/Aids pyramid scheme
South African authorities busted a pyramid investment scheme on Tuesday involving a company offering HIV/Aids treatments.
Madoff: The ‘big lie’ that got bigger and bigger
When Bernard Madoff allegedly admitted that his investment company was a "big lie", few realised just how big.
Obama promises ‘adult supervision’ for Wall Street
President-elect Barack Obama has blamed a lack of "adult supervision" for scandals such as Bernard Madoff’s alleged $50-billion fraud.
Madoff’s firm to be sold off
US authorities said on Monday they were liquidating Bernard Madoff Investment Securities LLC of New York, following Madoff’s arrest for alleged fraud.
Top banks face losses in ‘pyramid’ fraud
Top world financial groups on Monday revealed massive potential losses from an alleged scam run by Wall Street trader Bernard Madoff.