Pyramid Schemes
In the classic “pyramid” scheme, participants attempt to make money solely by recruiting new participants, usually where: The promoter promises a high return in a short period of time; No…
Pyramid Schemes
The Direct Selling Association on Pyramid Schemes: Truth and Truthiness
Dr Vander Nat and Dr Keep set the record straight & discuss how recent DSA report mainly appeals to truthiness, takes novel stand on key diagnostic for a pyramid scheme…
Calif. city councilman and former mayor resigns amid GemCoin pyramid scheme investigation
Council member and former three-term mayor of Arcadia, Ca. John Wuo resigned Tuesday amidst state and federal investigations into a company accused of operating a “worldwide pyramid scheme” that he…
Cryptocurrency startup Gemcoin busted for alleged $32m Ponzi scheme
The US Securities and Exchange Commission (SEC) announced on Thursday that it’s broken up an alleged $32 million Ponzi scheme that promised to mine amber and pay out profits in…
Joe Mariano DSA President Explains Pyramid Schemes
In a letter to the New York Times, in response to a column by Joe Nocera titled The Pyramid Scheme Problem, US Direct Selling Association president Joseph Mariano has written…
BBB Gives Tips To Identify Pyramid Schemes
Cookware, makeup, lotions and potions, supplements, candles, essential oils, jewelry and the list goes on. All are products sold by companies whose business models include sales via word of mouth…
Are Gifting Clubs Really Pyramid Schemes
Better Business Bureaus are again detecting a rise in gifting clubs — groups that manage to convince newcomers that they will receive thousands of dollars if they make a “gift”…
Direct Selling Association (DSA) initial response to FTC vs Vemma
The DSA response to the FTC Vemma issue: Statement of Joseph N. Mariano on Recent Federal Trade Commission Action Read the rest of the story: http://www.dsa.org/news/press-releases/individual-press-release/statement-of-joseph-n.-mariano-on-today-s-federal-trade-commission-action
FTC Shuts Down Vemma
The FTC Shuts Down Vemma At the Federal Trade Commission’s request, a federal court has temporarily halted an alleged pyramid scheme, Vemma Nutrition Company, that lures college students and other…
Pyramid Schemes Spread Like Wildfire in China
For all too many victims of pyramid schemes, visiting a three-story building in a residential area outside Beijing’s North 4th Ring Road marks a turning point in their lives. It’s…