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Hot Topic Hawke’s Bay
General Business
3 mins to read
1

Pyramid schemes becoming ‘increasingly sophisticated’

The ComCom warning follows prosecution of a local promoter of ‘Lion’s Share’, a scheme that has caused $17m in losses worldwide.

Pyramid schemes are becoming increasingly sophisticated, the regulator says.

Maria Slade Tue, 23 Apr 2024

The conviction of a woman who promoted one of the biggest pyramid schemes New Zealand has ever seen has prompted the Commerce Commission to warn that such scams are becoming increasingly sophisticated.

Shelly Cullen was prosecuted for her role in ‘Lion’s Share’, a pyramid scheme

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Maria Slade Tue, 23 Apr 2024
Contact the Writer: maria@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Tags
Commerce Commission Validus pyramid scheme Lion's Share
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