We have recently witnessed some of the Ponzi schemes failing in India and cheating lacs of people. Before we move further let’s understand what a Ponzi scheme is. A Ponzi scheme is some kind of fake investing scam which promises high rates of return at low risk and in shorter time frame. People who are educated and lives in big cities are mostly aware about such schemes. But people who live in small towns and villages are easily duped with such schemes.
Unfortunately, India doesn’t have much legislation to control Ponzi scheme. Modi Government in power today, planning to introduce strong law to control such offers. Here are our reasons as why one should not invest in any Ponzi scheme.
- Only way to make money is through ethical ways through sheer hard work.
- There’s no method in the world to give you high returns overnight.
- Any scheme which is no legal should be avoided.