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1 : a group of holding companies superimposed on one another to give those in control of the top holding company control over all of the companies with a small investment
2 : the series of operations involved in pyramiding on an exchange
3 : a pyramid scheme
vi : to speculate (as on a security or commodity exchange) by using paper profits as a margin for additional transactions
1 : to use (as profits) in speculative pyramiding
2 : to increase the impact of (as a tax assessed at the production level) on the ultimate consumer by treating as a cost subject to markup
adj : of, relating to, or being an illegal scheme in which participants give money or other valuables in exchange for the opportunity to receive payment for recruiting others to participate in the scheme
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.