Pyramid schemes definition

Pyramid schemes means any plan or operation in which a person gives consideration for the right or opportunity to receive compensation that is derived primarily from the recruitment of other persons as participants in the plan or operation, rather than from the bona fide sale of goods, services, or intangible property to a person or by persons to others.
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Pyramid schemes means plans or promotions organized whereby fees, dues or anything of material value is paid or given by members of the plan to any other member of the plan, which provides for the increase in such membership through a chain process of members securing other new members and thereby advancing themselves in the group to a position where such members in turn receive fees, dues or things of material value from other members (see W. Va. Code § 47-15-1, et seq.)
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Pyramid schemes means any plan or operation in which a person
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Examples of Pyramid schemes in a sentence

  • Pyramid schemes succeed because the majority of victims invest over and over with larger amounts of cash.

  • Pyramid schemes in the form of mining pools, unregulated ICOs, “shitcoins,” and tokens all pose new risks to both existing and new users and can lead to monetary losses.When looking at crypto-assets, one also has to consider CMTs, as they are vital to UX.

  • Multi-level Marketing: Pyramid schemes, network marketing, and referral marketing programs.

  • These items include:• Items which may be seen to promote in any way the use of illegal drugs.• Knives, guns or their associated replicas.• Items not meeting the Canada Consumer and Corporate Affairs Acts.• Pyramid schemes or card table exhibits.• Any raffles or solicitation of funds to help support any non-profit or charitable organization.• Any other items which Exhibition Management or Northlands Management deems offensive.

  • Pyramid schemes are illegal operations in which an e-mail recipient is encouraged to send money to a list of several people, replace one name on the list with his/her own, and forward the e-mail in bulk to others.

  • Pyramid schemes are one of the few business opportunities that the working poor are likely to encounter, but these are not real opportunities at all.

  • The 50 Pyramid schemes are essentially fraud schemes which are also called “unregulated financial investment schemes”.

  • Pyramid schemes and other financial frauds can have terrible conse- quences for the poor who are already vulnerable.Problems with generally reputable financial providers can also lead to significant harm over time as when interest rates are kept artificially high, when fees and penalties are levied unnecessarily or when people are sold products that they don’t need or understand.

  • Numerous money lenders in the name of Pyramid schemes came up, promising hope among the ‘little investors,’ that they can make it to the financial freedom through soft borrowing.

  • If approved, sale of the property will result in total revenue of $679,235, realized over four years, as follows: an initial one-time payment of $250,000 in Fiscal Year 2012-13, and monthly payments of principal and interest of $8,942 ($107,308 annually) for four years commencing upon the close of escrow.


More Definitions of Pyramid schemes

Pyramid schemes means any plan or operation in which a person gives consideration for the right or opportunity to receive compensation that is derived www.mlmlegal.com primarily from
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Related to Pyramid schemes

  • approved scheme means a share option scheme, other than a savings-related share option scheme, approved under Schedule 4.

  • Pension Schemes means the Nord Anglia Joint Pension Scheme, the Wyburn School Limited Pension Life Assurance Scheme (1985) and the Lifetime Pension Scheme, and “Pension Scheme” means any one of them.

  • Superannuation Scheme in this subclause, shall mean a scheme other than one implemented solely for purposes of compliance with Clause 49. - Superannuation of this award, or an Order of the Western Australian Industrial Relations Commission.

  • authorised scheme means Work No. 1A described in paragraph 2 of Part 1 of this licence;

  • Pension Scheme means a contract, an agreement, a trust deed or rules stipulating which retirement benefits are granted and under which conditions;

  • Schemes the Principal Civil Service Pension Scheme available to Civil Servants and employees of bodies under Schedule 1 of the Superannuation Act 1972 (and eligible employees of other bodies admitted to participate under a determination under section 25 of the Public Service Pensions Act 2013), as governed by rules adopted by Parliament; the Partnership Pension Account and its (i) Ill health Benefits Scheme and (ii) Death Benefits Scheme; the Civil Service Additional Voluntary Contribution Scheme; and the Designated Stakeholder Pension Scheme and “alpha” introduced under The Public Service (Civil Servants and Others) Pensions Regulations 2014;

  • Newco Scheme means a scheme of arrangement or analogous proceeding (“Scheme of Arrangement”) which effects the interposition of a limited liability company (“Newco”) between the Shareholders immediately prior to the Scheme of Arrangement (the “Existing Shareholders”) and the Company; provided that (i) only ordinary shares or units or equivalent of Newco or depositary or other receipts or certificates representing ordinary shares or units or equivalent of Newco are issued to Existing Shareholders; (ii) immediately after completion of the Scheme of Arrangement the only holders of ordinary shares, units or equivalent of Newco or, as the case may be, the only holders of depositary or other receipts or certificates representing ordinary shares or units or equivalent of Newco, are Existing Shareholders holding in the same proportions as immediately prior to completion of the Scheme of Arrangement (disregarding de minimis holdings by initial subscribers, if applicable); (iii) immediately after completion of the Scheme of Arrangement, Newco is (or one or more wholly-owned Subsidiaries of Newco are) the only shareholder of the Company; (iv) all Subsidiaries of the Company immediately prior to the Scheme of Arrangement (other than Newco, if Newco is then a Subsidiary of the Company) are Subsidiaries of the Company (or of Newco) immediately after completion of the Scheme of Arrangement; and (v) immediately after completion of the Scheme of Arrangement the Company (or Newco) holds, directly or indirectly, the same percentage of the Ordinary Share Capital and Equity Share Capital of those Subsidiaries as was held by the Company immediately prior to the Scheme of Arrangement.

  • Traineeship Scheme means an approved traineeship applicable to a group or class of employees or to an industry or sector of an industry or an enterprise. A traineeship scheme shall not be given approval unless consultation and negotiation with the union upon the terms of the proposed traineeship scheme and the traineeship have occurred. An application for approval of a traineeship scheme shall identify the union and demonstrate to the satisfaction of the approving authority that the abovementioned consultation and negotiation have occurred.

  • Companies Act means the Companies Act, 2008 (Act No. 71 of 2008);

  • approved blood scheme means a scheme established or approved by the Secretary of State, or trust established with funds provided by the Secretary of State, for the purpose of providing compensation in respect of a person having been infected from contaminated blood products;

  • Companies Law means the Companies Law (2018 Revision) of the Cayman Islands, as amended from time to time.

  • Cayman Companies Act means the Companies Act (As Revised) of the Cayman Islands.

  • Israeli Companies Law means the Israeli Companies Law, 5759-1999, as amended, and the regulations promulgated thereunder.

  • Companies Acts means the Companies Acts (as defined in section 2 of the Companies Act 2006), in so far as they apply to the company;

  • Exempt Newco Scheme means a Newco Scheme where, immediately after completion of the relevant Scheme of Arrangement, the ordinary shares or units or equivalent of Newco (or depositary or other receipts or certificates representing ordinary shares or units or equivalent of Newco) are (i) admitted to trading on the Relevant Stock Exchange or (ii) admitted to listing on such other Regulated Market as the Issuer or Newco may determine;

  • ICTA means the Income and Corporation Taxes Xxx 0000;

  • Labour Relations Act means the Labour Relations Act, 1995 (Act No. 66 of 1995);

  • Scheme Rules means the applicable SEPA direct debit or credit transfer scheme rules of the European Payments Council as amended from time to time.

  • ASX means Australian Stock Exchange Limited.

  • Companies Ordinance means the Companies Ordinance (Chapter 622 of the Laws of Hong Kong);

  • Demerger means a demerger pursuant to Chapter 17 of the Finnish Companies Act (624/2006 as amended from time to time).

  • Scheme of Arrangement means a scheme of arrangement, share for share exchange or analogous procedure.

  • Journeyman plumber means a person licensed under this chapter as a

  • Pensions means annual payments for life derived from contributions made by the employer that at the time of retirement are credited into the annuity and pension reserve fund from the employers' accumulation fund and paid from the annuity and pension reserve fund as provided in this chapter. All pensions shall be paid in twelve equal monthly installments.

  • relevant scheme means any other scheme approved or seeking approval under Chapter 1 Part XIV of the Act and in respect of a Class A Member who is a Controlling Director also any retirement annuity contract or trust scheme approved under Chapter III Part XIV or any personal pension scheme as approved under Chapter IV Part XIV of the Act insofar as it provides benefits secured by contributions in respect of Service.

  • FOISA means the Freedom of Information (Scotland) Xxx 0000 and any subordinate legislation made under this Act from time to time or any superseding or amending enactments or regulations, together with any guidance and/or codes of practice issued by the Information Commissioner, the Scottish Information Commissioner and/or any relevant government department in relation to such legislation.