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.

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