pyramid scheme
Expert Warns ‘Secret Sister’ Holiday Gift Exchange
The season of giving is falling upon us. But for some crooks, it’s also the season of taking what’s not theirs. Right now, the Better Business Bureau (BBB), a non-profit organization with a vision to build trust between buyer and sellers, is warning people to beware of a gift exchange scheme making its way on […]
How a Massive Pyramid Scheme in China Defrauded Millions
A pyramid scheme in China has been revealed to have ensnared millions of investors, who have jointly lost 30 billion yuan (about $4.7 billion) in investment capital. Back in December 2017, Zhang Xiaolei, founder of online platform Qianbao.com, turned himself into the police, admitting that he had been running a Ponzi scheme since the company’s […]
Man Sentenced to 13,275 Years in Jail For Ponzi Scheme
A 34-year-old Thai man has been sentenced to more than 13,000 years jail time for a Ponzi scheme. A court in Bangkok sentenced Pudit Kittithradilok to 13,275 years in prison for running a Ponzi scheme where he tricked 2,600 people out of 574 million baht (US$17 million), reported The Bangkok Post. However, due to limits […]
Outrage in China as Student Death Linked to Violent Pyramid Scheme
A young college graduate was found dead in the northern port city of Tianjin. Police suspect the death involved foul play by a pyramid scheme gang. Such gangs have been connected to a number of suspicious deaths across China. On July 14, the body of Li Wenxing, 23, was found near a suburban highway in […]