Liberty Ball

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Liberty Ball is a type of pyramid scheme which originated in County Kerry, Ireland in late 2005. The scheme has since spread to west County Cork, and recently to Cork City.

[edit] How it works

Investors are required to travel to Munich, Germany to purchase a virtual "ball" on a chart for between €5000 and €10000. By attracting additional investors beneath them on the chart, they become eligible for a future payment of up to €80000. Large meetings are held in hotels on a regular basis with the express purpose of attracting new members.

[edit] Criticisms

The Liberty Ball scheme may be illegal under the Pyramid Selling Act in the Republic of Ireland, and as with any other pyramid scheme, the whole system will collapse when no new investors can be attracted, causing the people on the bottom rungs to lose their money.