pyramid scheme

noun

Definition of pyramid scheme

  1. :  a usually illegal operation in which participants pay to join and profit mainly from payments made by subsequent participants

1949

First Known Use of pyramid scheme

1949


PYRAMID SCHEME Defined for English Language Learners

pyramid scheme

noun

Definition of pyramid scheme for English Language Learners

  • : a dishonest and usually illegal business in which many people are persuaded to invest their money and the money of later investors is used to pay the people who invested first

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to give up a position of power

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