Let’s say we invite you to invest £1,000 in our new and brilliant business. We promise you an impressive return on your money, and all we ask is that you persuade a few of your friends to invest the same amount. They in turn will need to find some more investors. But remember, we’re all in this together, and everyone will end up richer.
Sound too good to be true? That’s because it is. Such an offer would be an example of a pyramid scheme, which is illegal in most countries. But such schemes, often promoted on social media with promises of cash and luxurious lifestyles, are rising at an alarming rate – 59% annually – in the UK.
