Another Pyramid Con

tomstickland

http://www.guardian.co.uk/world/2008/nov/13/colombia-riot-pyramid-scam

trisontana

It was on Watchdog again tonight. This time the schemes that are currently operating in Wales and the West Country were mentioned. Some idiots emailed the programme and said there was nothing wrong with the schemes because they pay some money to charity! Just like our dear-departed Giveandtake.

myrnahaz

Has Watchdog presented the tape to the authorities?
That Apprentice-failure woman they interviewed was so smug that it would be lovely to know that she got her comeuppance in court.
Maybe she will get lucky and end up in that fairytale court in Bath where Giveandtake got her invisible documents from.

sp1derm0nkey

It looks like the charities are not to happy about raising money in this way!

http://news.bbc.co.uk/1/hi/wales/7738577.stm

trisontana

I think not only the police and Trading Standards might be interested in closing down this scheme, but also the Charity Commissioners. The letter shown on that report is headed "G+T Charity Group" which, to my mind, gives the mistaken impression that this scam is a registered charity.

Dan29

More about the story featured on BBC ONE Wales last night.

EDIT: More discussion here.

nomoneyleft

theres only one way to stop this rip off, shop the people who are knowingly robbing people :-

details below from this link http://www.aboutmyarea.co.uk/site/content.asp?area=NP26&story=116654

"Why are they a problem?"

There is currently in Gwent and the wider region activity in many communities concerning Chain Gift/Pyramid selling, whilst involvements in the activity may seem attractive e.g. invest £3,000 to expect a return on £24,000 only 1 in 7 of investors will enjoy a profit. Many people lose their total investment.
Information has been received by Gwent Police that persons are discussing the merit of the schemes including reducing the initial investment to make them affordable. There is a concern they may get drawn into such schemes.

"Is it illegal?"

Yes - you commit an offence if you invite another person to join or invest in Chain Gift/Pyramid Scheme or you participate in the promotion, administration and management of such a scheme.
What should you do?


1. Do not invest in any Pyramid Selling opportunity, however attractive the outcomes look.
2. Pyramid Selling comes in many guises, ensure any material received or contact made is treated with suspicion.
3. If in any doubt, contact Consumer Direct on 08454 04 05 06 or Monmouthshire Trading Standards:
Monmouthshire County Council Trading Standards,
Environment Directorate,
County Hall,
Cwmbran. NP44 2XH
Telephone: 01633 644102
Fax: 01633 644457
EMail: [EMAIL="TradingStandards@monmouthshire.gov.uk"]TradingStandards@monmouthshire.gov.uk[/EMAIL]

dealer_wins

As terrible as it is losing £3000 in this scam, think of the poor people who lost out in this $50BILLION scheme collapse!!!!

http://news.bbc.co.uk/1/hi/business/7781086.stm :eek:

trisontana

I'm reviving this thread because today's Independent On Sunday is reporting that three people in the Bristol area have been arrested for operating a pyramid scheme. If you cast your mind back to the lively discussion we were having with GiveandTake you will recall that she lived in that area. I wonder if she is now helping the police with their enquiries?

The same article also mention that tens of thousands of people in this country are still losing money to these scams.

Edit,

I have now found an OFT press-release about this matter here:-

http://pr-canada.net/index.php?option=com_content&task=view&id=80590&Itemid=61

maninthestreet

....and that press-release says the people arrested were all women.