Does anyone know if this is a pyramid scam?

firefocus

jimmybell wrote: »

Hi,
I was involved in Planline and am in touch with some members who have generated a very substantial income. Can I ask how did you make it work for you and are you aware that Planline seems to have disappeared off of the internet now. Planline is under investigation due to one of the members running the business according to his own rules?
have you tried getting in contact as I have lost £1000 and do not see any hope of getting it out!

Regards,

Jo

I too joined Planline on the advice of a trusted friend, bad decision and no longer a friend !!!!, I tried to get my money out by getting those higher up the chain to buy back my units, they bought some and then everything went quiet, like you I've been trying to locate the website and of course it no longer exists.....if you do come across a contact, I'd really appreciate you sharing the details, I'm also down a substantial amount of money

EllaJane009

I too put money into planline so would be very interested to know whats happened to them!!

Dancing_Mandy

Me too, also we joined when there were 12,000 members, the first members joined were mainly from the north of England, around Cumbria. This explains the money circulation for Jimmybell. This was 3 years ago. I believe that the business has grown considerably to..... erm.... 12,000 members. ahem!

Dancing_Mandy

We personally didn't invest much. However, we got our friends to invest and one such friend invested £1200. They have made nothing out of Planline and they trusted us. We paid them back ourselves, with an apology.

chocolatechipcookies

If it looks like a scam and walks like a scam, it's a scam.


Trust your gut.

reality_check_3

Dancing_Mandy wrote: »

We personally didn't invest much. However, we got our friends to invest and one such friend invested £1200. They have made nothing out of Planline and they trusted us. We paid them back ourselves, with an apology.

reality_check wrote: »

Dancing in Sussex. I invested £2500 in planline august/oct 2003 and was told in july 2008 that the company had been under investigation due to some shady dude investing very very large sums of money that he should'nt have been. According to my source, planline itself was cleared of any wrong doing, the shady investor I believe is facing jail. However, my source also informed me that planline had been ordered to repay all monies, which they said is not possible due to the way the scheme works ie. they only pay out what comes in ,therefore there was know money to repay anyone, as it had all been paid to existing investors. I would think that any monies planline did have would have been swollowed up by legal costs during the investigations. I do not know how accurate this information is, it was given to me by the person that introduced me to planline. I am sorry it's not better news, I will certainly never trust any money men again!

henrietta1

LincsLad wrote: »

Planline IS a pyramid selling scam:

http://www.guardian.co.uk/guardian_jobs_and_money/story/0,3605,1095325,00.html

I was under the impression that true pyramid schemes are illegal in the UK. However, this may not apply to an "off-shore" set-up

marleyboy

wrote: »

Of course its a scam like they said why go there to buy fine art, if its network marketing you want e-mail me and I can give you info on a fantastic oppurtunity and cash rich worldwide company I am involved with. no risk and no outlay!!

PLease avoid falling for yet another scam, as is trying to be offered here!

mmdmmd

Sorry to bump up an old thread.
Confirmed as Scam

In BBC news now(09-March-2010)
news.bbc.co.uk/1/hi/england/kent/8558453.stm

Coopdivi

And here is mmdmmd's link. Thank you for that.

http://news.bbc.co.uk/1/hi/england/kent/8558453.stm