It is now illegal to participate in Ponzi and pyramid-type schemes in this country.
The penalty for someone found operating one is a fine of $10 million or ten years in prison after recent amendments to the Securities Act Chapter 83:02.
According to the T&T Securities and Exchange Commission, Section 165A has been inserted after the existing Section 165 of the Act to provide for the criminalizing of any ‘prohibited schemes’, namely Ponzi and pyramid-type schemes.
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