Published On: Fri, Nov 9th, 2018

Central Bank: Letter to schools about pyramid scheme

Central Bank_frontWILLEMSTAD - The Central Bank of Curaçao and St Maarten sends a letter today to the schools in connection with the phenomenon pyramid scheme.

In short, it comes down to this: someone at the top of the pyramid starts asking people to find a number of people and to put in a certain amount. Each depositor does the same thing again, and so on and so on. This creates a human pyramid of depositors.

It is a very risky way of investing because it involves investing in nothing concrete. It is legally not seen as an investment, but as gambling, according to the central bank.

The lower you are in the pyramid, the greater the risk that you will become a victim. In Curaçao the game is prohibited by law. Via Social Medi,a it now turns up again with low amounts.

According to the Central Bank, this indicates that the organizers behind this forbidden game are targeting school children.

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