Summary: There is growing concern about the proliferation of pyramid schemes disguised as mentorship programs, particularly targeting young individua
Summary: There is growing concern about the proliferation of pyramid schemes disguised as mentorship programs, particularly targeting young individuals. These schemes promise leadership skills and early retirement in exchange for fees. Victims are often approached by strangers on the streets, claiming to be “entrepreneurs” offering mentorship. Once involved, participants pay fees to mentors and attend conferences that promise to teach leadership skills, all while searching for new recruits. Experts warn that such schemes are often illegal pyramid schemes, and they advise caution, as financial desperation can make people vulnerable to get-rich-quick promises. Pyramid schemes can lead to significant financial losses and damage to social relationships.
Please note that pyramid schemes are illegal in many countries, including New Zealand, and participants can face legal consequences for their involvement. It’s essential to exercise caution and seek advice from reputable sources when considering any financial opportunity or investment.
More info:
https://comcom.govt.nz/consumers/dealing-with-typical-situations/pyramid-schemes
