Meaning of "Loan Pyramid Scheme"
This is a fraudulent loan scheme in which victims are lured into taking out loans from secondary financial institutions, and the loan funds are then passed on to other borrowers to expand the scheme.
"It is reported that the company operated a loan pyramid scheme by luring people in under the guise of a sign-up fee, resulting in the number of victims snowballing."
Related slang words
HoardingThe act of seeking profit or rewards through abnormal purchasing practices, such as buying large quantities of specific items beyond what is necessary to build up inventoryPromotionThis refers to the process of progressively advancing through ranks or job levels—such as Silver, Gold, and Diamond—by meeting specific performance criteria, such as sales targets or recruitment goals.ClosingThis is the final stage, just before negotiations conclude, in which psychological pressure is applied to make it difficult for the other party to refuse, thereby prompting them to take the final step, such as signing the contract or making a payment or deposit.Cryptocurrency pyramid schemeThis is a modern-day pyramid scheme in which operators pose as legitimate, publicly traded virtual assets, lure investors by promising high returns, and use funds from new investors to pay existing ones, thereby sustaining the scheme.Compiling a listThe act of compiling a list of acquaintances' names and contact information immediately after signing up, and then using that list to approach or attempt to connect with specific individualsAgentAn entity or system that performs a specific role with the aim of handling a particular task on behalf of anotherExit 10 at Seolleung StationThis term refers to "Exit 10" at Seolleung Station, a specific subway station. It is known as a former gathering place where multi-level marketing and fraudulent sales organizations used to lure new recruits, and has since come to be used metaphorically to describe similar fraudulent or solicitation schemes.Royalty incomeThis is a form of commission-based income generated by receiving a certain percentage of the profits derived from the sales (revenue) of subordinate team members, even without engaging in direct labor or sales activities; it is typically received in the form of a pension or regular payments.