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Nithin Kamath recalls falling for a pyramid scheme, warns retail investors against 'easy money' promises

Nithin Kamath, co-founder of Zerodha, recounted his experience with a pyramid scheme during his teens, highlighting the dangers of such schemes that promise quick wealth. He stressed that building wealth requires effort and caution, especially in the context of India's growing financial awareness. Kamath's warnings serve as a crucial reminder for retail investors to be wary of referral-based schemes that often turn out to be fraudulent, emphasizing the importance of due diligence in investment decisions.