pyramiding

pyramiding definition - legal

n

An illegal scheme in which paper profits are used to finance the purchase of additional investments, or the offering of the opportunity to a participant to be paid for the chance to introduce new persons to the scheme who will each pay for the opportunity to introduce new persons, and so on.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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