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.


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
Dr Mbuyiseni Ndlozi opens up about his thesis

Dr Mbuyiseni Ndlozi opens up about his thesis

Ndlozi explains the significance of the the first chapter of his thesis: 'Trauma in the archives'.

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

The Money Show’s Bruce Whitfield interviews Steinhoff International Chairperson Christo Wiese.

Happy 50th birthday, Pick n Pay (congrats on growing your bottom line by 18%)!

Happy 50th birthday, Pick n Pay (congrats on growing your bottom line by 18%)!

50 years ago the retailer started out when Raymond Ackerman bought three tiny stores from Click founder Jack Goldin.

Is it normal to have a curved penis? Dr Shingai explains

Is it normal to have a curved penis? Dr Shingai explains

Urologist Dr Shingai Mutambirwa says penile curvature is only a concern if it impedes a man's ability to have penetrative sex.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

Meet Shoprite’s Christo Wiese, ruler of retail (and 3rd richest African)

Meet Shoprite’s Christo Wiese, ruler of retail (and 3rd richest African)

Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) about how it all began and where it’s going.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?