Ponzi and pyramid schemes are both forms of financial fraud that share many characteristics. However, there are distinct differences in how they operate.

What once relied on word-of-mouth and text messages has now evolved into sleek websites, crypto buzzwords, and social media influencers. But no matter the packaging, the outcome is often the same: ...

Investopedia explains pyramid schemes, how they work, their different forms, and how people can avoid these fraudulent money ...