From Longman Dictionary of Contemporary Englishpyramid schemeˈpyramid ˌscheme (also Ponzi scheme /ˈpɒnzi skiːm $ ˈpɑːn-/) noun [countable] a dishonest and often illegal way of selling investments, in which money from people who invest later is used to pay people in the system who have already invested
Examples from the Corpus
pyramid scheme• A pyramid scheme creates the illusion of financial success by paying off early investors with funds provided by later investors.• This pyramid scheme was so successful that some counselors were earning more than $ 150,000 a month.From Longman Business Dictionarypyramid schemeˈpyramid ˌscheme or Ponzi schemeFINANCE a dishonest way of selling investments, in which the money paid by new investors is used to pay interest and other money owed to existing investors. When new investment brings less than the money owed, new investors lose their money → scheme 