Government launches public consultation on proposals to eradicate pyramid schemes

• Published in: Hong Kong Government News
• Format: Newsletter
• Language: English
• Published: New Delhi Athena Information Solutions Pvt. Ltd 07.12.2010
• Subjects: Economic development; Fraud; Pyramid operations; Hong Kong

The proposed amendments are as follows: (a) to define "pyramid scheme" as a scheme in which new participants make a payment, and such a payment is entirely or substantially induced by the prospect that they will be entitled to receive a benefit for the introduction of new participants, irr...