Politicians call for tighter laws on pyramid schemes

LEGISLATION governing pyramid schemes must be updated to protect vulnerable consumers, it was claimed yesterday.

Fine Gael Justice spokesman Jim O’Keefe said a scam sweeping his constituency of Cork South West was conning locals into thinking they could make tens of thousands of euro in profits.

“Details of the scheme are spread by word of mouth and people are then invited to a hotel for a Powerpoint presentation,” he said.