The biggest driver of pyramid schemes is ‘greed’

These are the words of Caroline da Silva, Chief Executive Officer for the Financial Services Board, who spoke to Afternoon Drive Host Xolani Gwala about pyramid schemes and whether they’re linked to widely reported retrenchments in some industries.

Listen to Xolani’s conversation with da Silva and National Consumer Commission (NCC) head Ebrahim Mohamed.

It’s understood the NCC is investigating nine investment opportunities believed to be pyramid schemes, and fund curators may be brought on board to try and recover money lost.

Those found to be running pyramid schemes could very well be convicted of fraud.


This article first appeared on 702 : The biggest driver of pyramid schemes is ‘greed’


Recommended

by NEWSROOM AI
Read More
Pyramid Schemes 101 (and how to avoid other scams you may not know about)

Pyramid Schemes 101 (and how to avoid other scams you may not know about)

Time and again South Africans (even highflying businesspeople) get caught out by pyramid schemes.

Is Kipi a ponzi scheme or not?

Is Kipi a ponzi scheme or not?

John Robbie spoke to Richard - a staunch supporter of Kipi (a financial social platform) about the credibility of this scheme.

Sars sees record tax returns, Is it a Ponzi scheme?, Lead SA-GIBS on Mandela Day

Sars sees record tax returns, Is it a Ponzi scheme?, Lead SA-GIBS on Mandela Day

The big issues out of CapeTalk's Breakfast with Kieno Kammies and 702's John Robbie Show

US firm claims it uncovered R200-billion Ponzi scheme run by a South African

US firm claims it uncovered R200-billion Ponzi scheme run by a South African

We interview the CEO of OffshoreAlert, the US firm that is accusing Cobus Kellerman of a scam 10x larger than Barry Tannenbaum’s.

5 signs it’s a Ponzi scheme (and not the great investment you imagine it to be)

5 signs it’s a Ponzi scheme (and not the great investment you imagine it to be)

Here’s how to tell the difference between a truly great investment and a pyramid scheme…

Popular articles
The UAE is pumping billions into the Horn of Africa

The UAE is pumping billions into the Horn of Africa

The Money Show's Bruce Whitfield interviews Africa correspondent Lee Kasumba

'Minnie understood he might become a target'

'Minnie understood he might become a target'

Marianne Thamm wrote the forward to 'The Lost Boys of Bird Island' and worked with Mark Minnie in editing the controversial book.

[WATCH] Dad dresses up as a mom so his sons don't feel left out on Mother's Day

[WATCH] Dad dresses up as a mom so his sons don't feel left out on Mother's Day

Khabazela shares Facebook posts, YouTube videos that have gone viral including one with the smartest dogs.

Nxasana questions why Minister Masutha's involvement is not being challenged

Nxasana questions why Minister Masutha's involvement is not being challenged

Former NDPP Mxolisi Nxasana says he didn't know the payout he received was a golden handshake.

[WATCH] 'I write about the world that I see' - Indian author Arundhati Roy

[WATCH] 'I write about the world that I see' - Indian author Arundhati Roy

Indian writer Arundhati Roy shares profound insights about her literary life and what inspires her to put pen on paper.

[LISTEN] Is your phone listening in on your conversations?

[LISTEN] Is your phone listening in on your conversations?

MD at World Wide Worx Arthur Goldstuck explains how your phone may record your voice conversations.

'Black Tax'... working hard, earning well, but struggling financially

'Black Tax'... working hard, earning well, but struggling financially

Young(ish) South Africans tell stories of the mixed emotions they feel when supporting family members, and tips from an advisor.

Hillbrow, Ponte City (don’t be scared) is where it’s at. How to experience it...

Hillbrow, Ponte City (don’t be scared) is where it’s at. How to experience it...

The Money Show’s Bruce Whitfield interviews Dlala Nje founders Nickolaus Bauer and Michal Luptak.