Pyramid Scheme

Samoa’s Commerce Ministry warns public against pyramid scheme

These include re-gifting of money and it includes the recruitment of participants to produce financial rewards.

Pyramid selling and similar schemes are illegal ‘get rich quick’ scams that can end up costing your friends and family their hard-earned tala.

Pyramid selling and similar schemes promise financial returns to participants should they add more membership to the scheme.

New participants must register with high upfront membership fees.

Participants are promised to earn from the operation of these schemes high financial returns very quickly.

Rise in pyramid schemes targetting Māori and Pasifika sparks warning

Natalie Vincent, of Ngā Tāngata Microfinance, said many pyramid schemes use cryptocurrencies, and are promoted primarily to Māori and Pasifika families.

Vincent said a new pyramid scheme is being sold to vulnerable people in the form of 'gifting' or 'koha' with the promise of making quick money.

It suggests people can get up to $20,000 after making three payments of $150.

Vincent said some people might make money at the very early stages, but further on, as is the nature of such schemes, it will collapse, leaving no money for anyone.

Chinese man in New Caledonia tries to avert extradition

Ning Shisheng, who has lived in Australia since 2010, was arrested on an Interpol warrant in April when the cruise he was on stopped on the Isle of Pines.

Judicial authorities in Noumea, who examined Beijing's extradition request, are in favour of complying with it.

However, the lawyer acting for the 64-year-old suspect says China's prison system doesn't comply with France's international obligations.

The lawyer noted that New Zealand recently rejected a Chinese extradition request, citing human rights risks.

Mr Ning says he is no fraud.

Money laundering scammers convicted, await sentencing

The pair were accused of running the scam in early August, when officers apprehended them before they left the country.


Bail stays for 3 accused of cyber-crime offences