Pyramid scheme busted in Uttara
Rapid Action Battalion on Tuesday raided a company in Uttara, which was stealing money from job-seekers through a pyramid scheme.
A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investment or sale of products.
Rab said the fraud gang has embezzled around Tk 1.03 crore through this scheme. Thirty people of the company were arrested.
The elite force raided Together Electric and Electronics Ltd, and found some 203 victims at the company’s training centre. “This company lures unemployed youth, then takes money from them with the promise of a month-long training session and accommodation,” said Mohammad Sajedul Islam Sajal, senior assistant director of Rab-4.
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