There are of discussions on the Ponzi and pyramiding scams at the Pinoy Entrepreneurs blog (see “Scams and Schemes“). There’s a discussion of an actual case, the Panata Foundation case. The 2000 case of People vs. Menil, Jr. involves a strikingly similar scheme. It’s really amazing how this scam still works despite almost a hundred years of existence. Maybe people have this nagging doubt that such get-rich scheme is highly suspicious, but rational thinking is oftentimes defeated by the very same reason — the prospect of getting rich quickly.

Anyway, if you’re at the Pinoy Entrepreneurs blog, you might want to answer a poll on whether our country needs more entrepreneurs or more opportunities.