Money Circle? hope you guys can help

holbrook99 · 21 August 2008 at 4:18PM

my auntie has had a text message from a close friend of hers who is convinced and very enthusiastic about a new "scheme" that she has enrolled in and is trying to get my auntie along for the ride, it sounds dodgy to me what ive heard about it so far, i have very limited details but below i have printed a copy of the text she was sent, can anybody shed any light on this based solely on the text whilst i try and get some more info, i really dont want my auntie to be conned.

would like to invite you to vickys 2 listen to the money circle(NO OBLIGATION)but very worthwhile. u can get all those free holidays u ever wanted if u got friends willing 2 listen. come if only for a nite out

Look forward to a response and will also update this thread with any further info i find out, i do know that it involves spending £300 some how??

Thanks in advance
Paul

woohoo_postingid · 21 August 2008 at 4:20PM

The only person who will earn anything is the one charging £300

Stay well clear

holbrook99 · 21 August 2008 at 4:28PM

do you have any actual info on this though, ive already said stay away to her, but id like to go back and say "stay away because this is........."

does anybody know exactly what this money circle is???

a bit of an update, she just said to me we can share the £300 entry fee among friends but we also share the payout?? sounds more and more dodgy to me, but im no expert..

thanks
paul

billsavings · 21 August 2008 at 4:38PM

Sounds like a variation of the old gifting circle scam.

http://www.rd.com/your-america-inspiring-people-and-stories/scam-artists-praying-on-women/article28547.html

woohoo_postingid · 21 August 2008 at 4:43PM

If your auntie is keen to invest, tell her she can send me £300. If she says that's ridiculous, tell her it's no more ridiculous than giving money to someone else she doesn't know.

I don't know if her friend has been taken in by this but they need to be warned as well.

linfield · 21 August 2008 at 4:46PM

It comes round every few years. The first few people make some money and the rest lose out. Can lead to a lot of unhappy friends and relatives.
Avoid!!!

cybermum · 21 August 2008 at 5:25PM

Oh gosh,tell her to avoid like the plague!!
I have seen lots of these and lots of unhappy people too :eek:

Boggled · 21 August 2008 at 8:56PM

AVOID ! This is a form of Pyramid gifting. The only people who make money out of this are the one's who start up the operation.

You will have to recruit others to put money in and if it's not yourself who losses the money your friends or family will. You will be suduced by going to a "party" having nibbles and wine etc and seeing large sums of money changing hands, Unless you know a large number of people that you are potentially willing to stitch up steer clear !

holbrook99 · 22 August 2008 at 9:39AM

ok guys i think i get it, im going to point my auntie in the direction of this thread so please keep posting your views so she can have a broad spectrum of opinions, Thanks very much