Why are people still falling for Pyramid Schemes?

Ethyl

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Soneone I know tried to get me involved in the latest Pyramid Scheme called My Shopping Genie. I warned him that this was not only illegal but explained that it was non-sustainable and that he wouldn't recoup much, if any of his investment ($100) from this. This gimmick is a supposed advertising for eBay but I wonder if they're even affiliated with it at all. I thought people were smarter than to fall for something like this today. I thought wrong.

I'm wondering if I should contact the SEC about this. I'd hate for anyone else to get duped like my ex co-worker did. Any suggestions?
 

Northland

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The majority of people are by nature, greedy. With this in mind, scammers and schemers are well aware that there is a huge audience and a lucrative business-for them! Legal or not, sadly thousands upon thousands will plunk down their dollars and ducats and other forms of currency each and every day, with the hope that they will somehow make a fortune. Witness the shell games found on streets in most cities. Even if the government steps in, there is usually no way to recoup the entire amount which has been paid out by the hopefuls.

With all this in mind, I would still encourage you to report it. It doesn't hurt to bring a scam down as soon as possible.
 

Rikter8

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I also was invited to start up my own Pyramidal money scheme.

It involved all the current P&G products, cable TV...utilities...cell phones...etc etc.

I couldn't bring myself to bugging 10 closest friends to give me $400 to start up, and then have them try to run around and collect $400 from 10 of their people.

Want to know what's REALLY sad?
I had a guy that called me and aksed me to interview for his company to run his website, and as an administrative IT guy.
I gave him my resume and agreed to meet.
We met, and he suddenly said, well I dont care about your resume...let me show you what I want you to do. (Pyramid scheme).
He's telling me he lives in some fancy local subdivision bla bla bla.

HOw totally fucked up is that?
Id love to turn him into the police, but it's legal to do that crap here apparently
 

transformer_99

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When the economy starts to tank. The late night infomercials even start to become more prevalent. When people are desperate, these people show up. The last bunch were the Carlton Sheets property flippers.
 

midlifebear

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Mecurialbliss: Quite honestly, Ewetaw has a much bigger population than anyone can keep track of. In addition, the majority of sweet spirits who reside there view "going forth and populating the Earth" as THE pyramid scheme. Therefore, it takes much longer for pyramid schemes to run their short course in that part of the world. True. It's the pyramid scheme capital of the USA. Maybe that helps answer part of your question.

Now, if you'll just read the following list
1. Send me one dollar.
2. Scratch my name and address of the top of the list.
3.Add your own to the bottom of the list.
4. Make 10 copies.
5. Send 1 copy to ten friends . . . . etc., etc., etc., . . .

. . . and if you don't, God will kill all the fuzzy bunnies, kittens and puppies in your city. . . .

Edit: By the way, what country still uses ducats and does it have a sunny, warm beach?
 

SpeedoGuy

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I couldn't bring myself to bugging 10 closest friends to give me $400 to start up, and then have them try to run around and collect $400 from 10 of their people.

About once a year or so one or another relative calls me up gushing about some great new plan to make money fast. I just cringe every time this happens.

We met, and he suddenly said, well I dont care about your resume...let me show you what I want you to do. (Pyramid scheme).

Something similar happened to me a few years ago when an old "friend" called wanting to meet me for lunch. I had just gotten out of the hospital from serious surgery and was still on crutches. I thought he was going to buy me lunch and wish me a speedy recovery but instead the guy has the brass balls to try to push me an Amway membership on me. Jesus, how tacky.
 

Principessa

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When the economy starts to tank. The late night infomercials even start to become more prevalent. When people are desperate, these people show up. The last bunch were the Carlton Sheets property flippers.
You took the words right out of my mouth! The economy sucks, I don't care what that drunk cheerleader says. :12:

I vaguely recall hearing about the Carlton Property scams years ago. What's the deal with Primerica Financial are they another Ponzi scheme? They just always seemed fishy to me.



Ponzi scheme: A Ponzi scheme is a type of securities fraud where the promoter makes some sort of false or misleading statement about an investment (often including a guaranteed high rate of return) and pays off older investors with newer investor's monies. Eventually, when the promoter can't find any new investors, the scheme collapses. Ponzi schemes are named for Charles Ponzi who, in the early part of last century, took investors for millions by guaranteeing big returns from arbitrage profits from purported investment called an "International Postal Reply Coupon."