CNA938 Rewind - Nanning pyramid scheme: How to spot a pyramid or Ponzi scheme

After it was reported that 52 Singaporeans had been arrested and detained in Guangxi, China over their suspected involvement in pyramid scheme activities, more stories started emerging in the news media of other Singaporeans who had received investment pitches over the years seeking to entice them to join various schemes, including the so-called "Nanning scheme".

Chooi Jing Yen spoke to radio hosts Elakeyaa Selvaraji and Hairianto Diman to answer questions such as:-

1. What is a pyramid scheme and why is it illegal?

   
   

2. How do you spot one?

   
   

3. Do our laws have extraterritorial reach i.e. can you be prosecuted even if the scheme takes place overseas?

Listen to the interview here.