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Online Pyramid Schemes
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What is REC Golden Tree? Is REC Golden Tree investment legal in China?
“REC Golden Tree” was an online pyramid scheme that once operated within China. Its promotional materials claimed that investing in medical cannabis or the cryptocurrency REC would yield high returns—such as returns of more than 10 times the principal within two years. However, the project has been identified as an online pyramid scheme by China’s market regulatory authorities, and multiple cases involving substantial sums of money have been investigated and prosecuted. In China, such schemes—which operate under the banner of “low investment, high returns” and generate profits by recruiting downline members—are classified as illegal fundraising and pyramid schemes and are not protected by law.
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What is REC Golden Tree? Is REC Golden Tree investment legal in China?
“REC Golden Tree” was an online pyramid scheme that once operated within China. Its promotional materials claimed that investing in medical cannabis or the cryptocurrency REC would yield high returns—such as returns of more than 10 times the principal within two years. However, the project has been identified as an online pyramid scheme by China’s market regulatory authorities, and multiple cases involving substantial sums of money have been investigated and prosecuted. In China, such schemes—which operate under the banner of “low investment, high returns” and generate profits by recruiting downline members—are classified as illegal fundraising and pyramid schemes and are not protected by law.
Online Pyramid Schemes
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