In recent months, more than JD500 million ($714 million) has evaporated into thin air as Jordan found itself plagued by a series of pyramid schemes. “I have lost all my savings,” said Brahim, a taxi driver in Amman and one of the many victims of financial tsunamis that have washed over the Hashemite Kingdom. Pyramid schemes are known as unsustainable business models, which are built on enrolling as many people as possible into the scheme, with the promise of high monthly interests without the delivery of any product or service. Youssef Mansour, CEO of Envision Consulting Group (EN Consult), who last month pegged the loss at about 500 million dinars, has now revised the estimate for this month to more than JD1 billion ($1.4 billion). “We are still in a blur, as we are missing accurate estimates and waiting for the release of official figures,” he said. The economist underlined
