It appears that the ‘rash’ of so-called pyramid schemes proffering unsustainable ‘business models’ where a handful of ‘first in’ participants feed off those who enter lower down the chain and which appears to have been taking root in Guyana have attracted the attention of other countries in the region, triggering reports in sections of the regional media.
On Wednesday December 30 the Jamaica Gleaner reported that the Financial Intelligence Unit (FIU) here had been seeking to get on top of “more than a dozen pyramid schemes” currently active in Guyana, quoting local FIU Director Matthew Langevine as saying that the illegal rings are running various types of “unauthorized and unlicensed financial activities” which the newspaper says are essentially “intended to defraud persons.”
