The rise of pyramid schemes in Sierra Leone has become a concern. In recent years, the rise of pyramid schemes has become a concerning phenomenon that has affected individuals, communities, and even entire economies. Pyramid schemes, also known as Ponzi schemes, promise quick and substantial financial gains to participants but ultimately result in significant financial losses for the majority of participants involved. At their core, pyramid schemes operate on a deceptive business model that relies on recruiting new participants to generate profits, rather than selling genuine products or providing legitimate services. The initial participants, often referred to as "founders" or "early adopters," are enticed by the promise of high returns on their investments or membership fees. They are encouraged to recruit others into the scheme, who in turn recruit more participants, forming a hierarchical structure resembling a pyramid. The allure of pyramid schemes lies in the...
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