CNA Investigates: What is the Nanning pyramid investment scheme?

A pyramid scheme centered in Nanning, China, has ensnared numerous Singaporeans through deceptive investment opportunities presented as legitimate business ventures. Recruitment typically begins during casual social interactions or through mutual acquaintances, eventually leading to trips where participants are pressured to pay significant membership fees ranging from S$30,000 to S$50,000. The program functions by incentivizing members to recruit others, effectively moving money from new participants to those higher up the chain. Many victims, including those who lost life savings, remain trapped or hesitant to report the fraud due to fear of retaliatory lawsuits and the perceived lack of jurisdiction by local authorities. While investigations are underway following police reports, the clandestine nature of the scheme and the difficulty in obtaining on-the-record testimonies continue to complicate efforts to dismantle the operation and provide justice for those affected.