Edit: For the interested, the distinction between a pyramid scheme and a Ponzi scheme is that a pyramid scheme is relatively more upfront about how it generates returns, and relies on the investors themselves to recruit new investors, not the fund manager.
Edit: For the interested, the distinction between a pyramid scheme and a Ponzi scheme is that a pyramid scheme is relatively more upfront about how it generates returns, and relies on the investors themselves to recruit new investors, not the fund manager.