There is still someone promoting the pyramid scheme?

United States
July 12, 2010 7:02pm CST
There is a guy I met in the Barnes and Nobles while I was browsing the books. He is a Korean - American, and while we were browsing the same section, we start to chat. Later he propose me a business. He tried to pitch me a work structure like this. He recruit me, and I have to recruit several people down the line, and each of them under my line, I have to taught them to recruit more people. I said "what", how does that work. The thing is I have to paid some up - front fee, and this company is selling some sort of health supplement product. If I remember well, it is more like a pyramid scheme to me. I told him, "no thanks! I am not interest." So pyramid scheme is certainly illegal, should I also report this individual to the authority too?
3 responses
o0jopak0o
@o0jopak0o (6390)
• Philippines
14 Jul 10
well their are pyramid schemes in our country fronting as a entrepreneurial company. Its a shame that only the hight up can get rich.
Andyvil
@Andyvil (793)
• Philippines
13 Jul 10
I think you should report him to the proper authority. I really hate people who try to scam other people of their hard earn money. Why won't those people get a real job instead of scamming other people. I was a victim of those kind of schemes and I really despise those people.
bloggeroo
@bloggeroo (2167)
• Philippines
13 Jul 10
It can also be a multi-level marketing (MLM) company. The pyramiding concept is now practically integrated in all MLM companies so they have plausible deniability in the court of law. Even in its purest form, the pyramid or Ponzi scheme can and do survive long enough to do damage. This is understandable because it is founded on two human frailties--fear and greed. Anyway, I don't think there are specific laws criminalizing the act or acts attributed to the "pyramid scheme". Promising somebody that he will make a lot of money by recruiting other people is not per se illegal. At best, if the schemer is sloppy, he is liable only for breach of contract.