· September, 2008

Stories about Colombia from September, 2008

Colombia: people falling prey to pyramid schemes

On blogs, through videos and on facebook, Colombian Diego Alejandro is exposing the deceit and scams behind pyramid schemes that masquerade as investment options. In a country where it doesn't make sense to have a savings account because the handling fees are higher than the interest gained from the savings, these get rich quick plans where citizens can pay to participate and then invite 7 other friends to enroll before they can enjoy sky high interest (between 40 and 70%) on their savings seem like a great deal.

10 September 2008