The problem with pyramid schemes as well as the Cash App Money Wheel game is that it tends to get too big. Regardless, the concept is very simple, use money paid by other members to reward earlier members or investors. Worth noting as well with this particular scheme is that the promoters have gone through great lengths to make it seem legit. Fraudsters have taken to social media, more-so Twitter and YouTube, to promote this particular scheme using tags like #CashAppFridays. The more the number of investors or members, the easier it is for initial promoters to support the scheme by providing a great number of profits to its early investors thus the reason why they encourage investors to recruit.įrom this brief, you can easily tell that the Cash App Money Wheel game is definitely a pyramid.
They recruited investors or members go on to recruit other investors or members and this keeps going on and on. The first batch of people that recruit members or investors to any given pyramid scheme is usually initial promoters. Pyramid schemes heavily rely on the process of recruiting other people in order to have a pool of people who are willing and ready to contribute money as indicated. These schemes are usually not designed to last long but there are some that actually go all the way depending on the number of participants. Pyramid schemes are basically fraudulent systems designed by fraudsters to benefit a few at the expense of others.
