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The airplane game, also known as the plane game, is a style of pyramid scheme first recorded in the 1980s in North America and later Western Europe. The common version of the system involved joining an "airplane" by paying a "pilot" to become one of eight "passengers". [1][2] Passengers who started at the fourth step paid to join.
In a pyramid scheme, an organization compels individuals who wish to join to make a payment. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also receive a share of these payments.
Axie Infinity is a blockchain game developed by Vietnamese studio Sky Mavis, [1] known for its in-game economy [2] which uses Ethereum-based cryptocurrencies. [3] It has been called 'a pyramid scheme that relies on cheap labor from countries like the Philippines to fuel its growth.' [4]
Sergei Panteleevich Mavrodi (Russian: Серге́й Пантеле́евич Мавро́ди; 11 August 1955 – 26 March 2018) was a Russian financial fraudster, financial criminal and previously a deputy of the State Duma. He was the founder of the МММ, a scheme that defrauded millions of people around the globe.
This organization, established in 1972, once had a million members. It was a cause of the enactment of Japan's law prohibiting pyramid schemes. In 1986, the Dai-ichi Sōgo Keizai Kenkyūsho declared bankruptcy, leaving debts amounting to 189,600,000,000 yen. [31] It has been called "the biggest pyramid scheme in history." [32]
Vefa Holding was the main pyramid firm. It was created in 1994 by Vehbi Alimuça and spread across the country. Vefa invested in various fields of the economy such as hotels, fuel, stores and factories. Best known is the bomb attack a few weeks before the elections of 26 May 1996 on Vefa's supermarket in downtown Tirana.
Years active. 1972–present. David "Steve" Jones (born 7 June 1945) is an English disc jockey, television presenter, voiceover artist and former musician. He is most well known for presenting gameshow The Pyramid Game from 1981 to 1984 and again in 1989-90. The game had previously been part of LWT's The Steve Jones Game Show in 1979–1980.
Franchise fraud in U.S. federal law. The FBI website states: "pyramid schemes — also referred to as franchise fraud or chain referral schemes — are marketing and investment frauds in which an individual is offered a distributorship or franchise to market a particular product. The real profit is earned, not by the sale of the product, but by ...