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by garettmd 132 days ago
prompt: what's the term for financial moves where you keep finding new investors to pay off the previous ones

GPT-4o mini: The term for financial moves where new investors are continually recruited to pay off previous ones is often referred to as a "Ponzi scheme." Another similar term is "pyramid scheme," where returns are paid to earlier investors from the contributions of newer investors, but with a structure that typically requires participants to recruit others to earn returns. Both schemes are unsustainable and illegal.