Hundreds of people involved in controversial pyramid schemes gathered in the main hall of the Bermuda Industrial Union last night to hear legal advice, The Royal Gazette has learned.

Pyramid scheme participants were apparently told of the secretive meeting by word of mouth. It began in the late afternoon and lasted well into the night -- past 8 p.m., with various participants stepping up to the podium and giving what one person described as "testimonials''.

The Gazette was unable to find out who organised the meeting.

In a clear case of lending each other support, the hundreds who gathered listened and in most cases were seen to be in full agreement with each other.

The mood was described as one of determination and annoyance as many expressed their views on their rights to take risks with their own money.

One man at the podium explained the difficulties he has had with the local banks in trying to get ahead financially, sources said. He claimed that the banks have done nothing to aid him and felt strongly that pyramid schemes, which have swept the Island, are providing a beneficial service to locals.

Mixed with this view was a strong feeling that it was a form of racism that has made the schemes illegal. There was an overwhelming majority of blacks at last night's meeting, sources noted.

The Gazette was told lawyer Delroy Duncan was present giving legal advice earlier on. However, it was not clear what advice was given to the group, which clearly wants the schemes to continue.

Pyramid schemes are considered illegal in Bermuda because they contravene the Lotteries Act. Police last week launched an investigation into the schemes.