Frenchie and Oluwande scam the foppish aristocrats out of their money by claiming that Oluwande is an Egyptian prince and "selling" them shares of a pyramid he claims to own (with assistance from Abshir, who works for one of the aristocrats). This is obviously a joking reference to the idea of a "pyramid scheme," a fraudulent system of scamming money based on recruiting more and more "investors" in a project that either has no room for such a large number of investors or does not exist at all. Toward the end of the episode, Abshir mentions that they can revise the con so that he will claim to be a Nigerian prince instead--a reference to a different common confidence scam, variations of which have also been known as the advance-fee scam or the Spanish Prisoner.
Rhys Darby & Kristen Schaal were both on the show Flight of the Conchords (2007). Taika Waititi also directed four episodes of the series.
In Season 3, Kristen Schaal joined the main cast of Taika Waititi's show What We Do in the Shadows (2019) (of which Waititi directed a few episodes), which is a spin-off of his movie What We Do in the Shadows (2014), in which he starred and directed.