Ponzi Schemes and Pyramid Schmes are illegal, folks!

[szh]

Folks,

I have been asked why I deleted a thread about a Ponzi Scheme. Here are some references to let people know why.

They are illegal and they do not really work! The math is very simple to follow ... often, they require the entire population of Earth to be able to collect what the scheme promises, since the number of "participants" go up exponentially every level!

http://members.impulse.net/~thebob/Pyra ... ramid.html

Z

[The Mic]

So was nismochicks intent a good faith mistake?

[AZhitman]

Yep.

Some folks just aren't aware...

[Badfish]

Eh, I told her to send me the 10 bucks instead. Its a better investment.

Cmon, my car needs an alignment....

[szh]

So was nismochicks intent a good faith mistake?

Yes.

Z

[gabossie]

They get so many people with this crap. It's frightening how good the salespeople are for these schemes too.

[Mr1der]

I like making money the old fashion way.

selling overpriced lemonade.

Mike's Hard Lemonade isn't really Mike's

[PoorManQ45]

So was nismochicks intent a good faith mistake?

Nah, I say BAN her

Seriously though, she seemed to have just got sucked into it

[Nismochick240]

Nah, I say BAN her

Seriously though, she seemed to have just got sucked into it

wtf?

i like to see how i get called out on the entire forum thanks guys....

[nchopp]

Eh, don't worry about it. I've had a good five or six friends work on getting me into various pyramid schemes. I usually end up just telling them I'm too lazy to mess with it, as opposed to convincing them they don't work.

[thekage]

Dont worry nismochick... I got suckered into one of those when I was 18 by a good friend of mine.I was going to sell long distance telephone service for some company and then everyone I signed up afterwards to sell it.. I would make some of thier profit. Classic pyramid scheme. But I learned a valuable lesson... cost me 400 bucks though.

[szh]

i like to see how i get called out on the entire forum thanks guys....

Don't take it personally - a lot of people get taken in by these schemes unfortunately. I started this thread because I was asked why I deleted the other thread, and thought it would be better to be informative and prevent people from getting caught in the same trap.

Z

[szh]

Dont worry nismochick... I got suckered into one of those when I was 18 by a good friend of mine.I was going to sell long distance telephone service for some company and then everyone I signed up afterwards to sell it.. I would make some of thier profit. Classic pyramid scheme. But I learned a valuable lesson... cost me 400 bucks though.

What you got into is called a "Multi-Level Marketing" scheme or MLM for short.

These are not technically illegal, per se (although some people do consider it borderline fraud), since they are selling a valid service, but they also have their own problems: the early participants win and the later participants lose. Some states have laws against MLM schemes, but not as strongly and consistently as laws against true Pyramid or Ponzi schemes - which are illegal in Federal and all State laws, including many other countries, where Ponzi schemes are rife.

Z

[AZhitman]

wtf?

i like to see how i get called out on the entire forum thanks guys....

Nah, just by an adolescent doofus named Brien.

Kick him in the groin, it'll make you feel better (and we'll all get a good laugh).

[nchopp]

What you got into is called a "Multi-Level Marketing" scheme or MLM for short.

These are not technically illegal, per se (although some people do consider it borderline fraud), since they are selling a valid service, but they also have their own problems: the early participants win and the later participants lose. Some states have laws against MLM schemes, but not as strongly and consistently as laws against true Pyramid or Ponzi schemes - which are illegal in Federal and all State laws, including many other countries, where Ponzi schemes are rife.

Z

It gets particularly sketchy when the elderly are involved.

[Jesda]

Speaking of pyramid schemes, Scientologists.

[What! They're fair game!]

[thekage]

I thought pyramids were more aligned with Masons....

Hey Jesda lets start a MLM company. We can bottle and sell your... Weaksause!

[bobotech]

Don't feel bad, Nismochick.

I'm glad that the mod posted this thread, at least hopefully this thread will prevent or at least make aware of other pymird type scams to others.

I know a few people who got sucked into those type of schemes and got sucked into "gifting" schemes as well.

Bad stuff and ignore the little kid who "called you out".

[Jesda]

I'm calling you out!!!

[Graphfixz]

I have a friend who is a web developer that all he does is MLM Applications. He can charge up the wazoo because of all the money these guys have! These guys are not afraid to drop 10k on an application that will make their people give them money faster and easier!

[PoorManQ45]

wtf?

i like to see how i get called out on the entire forum thanks guys....

I'm sorry, I was just joking.

Nah, just by an adolescent doofus named Brien.

Kick him in the groin, it'll make you feel better (and we'll all get a good laugh).

Heheh, you said poo.

Oh wait, no you didn't anyways. poo is a funny word isn't it

[Nismochick240]

lol serious posts always turn into stupid comments... lol... you guys are crazy

[DriftingJesus]

Nah, just by an adolescent doofus named Brien.

Kick him in the groin, it'll make you feel better (and we'll all get a good laugh).

Nah he might like the kick in the groin....just go for the arse

[thekage]

Nah he might like the kick in the groin....just go for the arse

And what makes you think he won't like it in da but?

[Badfish]

Speaking of pyramid schemes, Scientologists.

[What! They're fair game!]

[PoorManQ45]

Nah he might like the kick in the groin....just go for the arse

LOL

That 70's Show: red, "Watch out for my foot getting stuck in your *** on the way out"

[Jesda]

Well thats the last time I'll ever stroke to "The Gift"

[Nismochick240]

poor man i saw that episode lol "i'd hate to be RED's foot"

[jdm_master_X]

Dont worry nismochick... I got suckered into one of those when I was 18 by a good friend of mine.I was going to sell long distance telephone service for some company and then everyone I signed up afterwards to sell it.. I would make some of thier profit. Classic pyramid scheme. But I learned a valuable lesson... cost me 400 bucks though.

same here...same age...same scenario...quite possibly the same company too! i dare not bring up the name since they have a "great legal team"...

group hugs.