Another Pyramid Con

dealer_wins

trisontana wrote: »

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

That is simply scary!! That there are actually tens of thousands of exceedingly stupid, greedy people in the UK alone.

I just cannot comprehend how someone can hand over £3000 in cash to something like this. Absolutely amazing!!!

tomstickland

http://www.thisisbristol.co.uk/homepage/Bristol-pyramid-scheme-exploits-loophole/article-762025-detail/article.html

The full story features on Inside Out West tonight at 7.30pm on BBC1.

trisontana

I am particularly struck by this quote from the scheme's solicitor :-

"We don't accept that later down the road people are going to lose out because there are essential differences between this scheme and other typical pyramid schemes."

So it would be interesting to see him explain where all the "new" money will have to come from. He sounds a right idiot.

myrnahaz

The solicitor has probably already donated £3k to the scheme and is hoping to convince a other fools to 'invest' so he can get his own cash out.

His name isn't Madoff, is it?

Soubrette

trisontana wrote: »

I am particularly struck by this quote from the scheme's solicitor :-

"We don't accept that later down the road people are going to lose out because there are essential differences between this scheme and other typical pyramid schemes."

So it would be interesting to see him explain where all the "new" money will have to come from. He sounds a right idiot.

Yep, more expenses if the scam...sorry I meant scheme has to pay out for things like solicitors.

Sou

trisontana

After reading how dozens of solicitors have illegally made millions from the miner's compensation schemes, I am not surprised in the least about this particular solicitor's behaviour. Where in the old days this seemed to be an honourable profession, it doesn't seem so any more.

trisontana

I see from the comments attached to the newspaper article referred to above that the usual crop of fools are on there defending the scheme , saying "it's only a gamble" and those of us who dare to criticise it should keep our noses out of it. There are either very stupid or they are the organises of the scam.

trisontana

I have just seen the BBC West programme and I think that solicitor was starting to have doubts about the legitimacy of the scheme. Lets hope he advises his clients to close the whole thing down before they all get arrested.

DavidT

trisontana wrote: »

I see from the comments attached to the newspaper article referred to above that the usual crop of fools are on there defending the scheme , saying "it's only a gamble" and those of us who dare to criticise it should keep our noses out of it. There are either very stupid or they are the organises of the scam.

I've been following the comments on the Bristol site. I'm not sure if its amusing or scary just how rabidly fanatical some of the scheme defenders are. Not one of them actually answers any of the direct questions put to them such as "where is the money coming from? what are these essential differences? How is it different to a pyramid scheme?"

Instead there seems to be increasing vitriol aimed at the doubters,

I guess that these comments are either coming from those running the scheme or from those who have recently joined and are worried they won't get a payout. Obviously lots of them won't and perhaps they are just realising that, or worried that they have been found out before they can collect on it.

It's funny that those defending such a scheme that's claimed to be totally legal and not a con cannot provide even one point to substantiate that, and instead resort to insults.

trisontana

There has been a bit of a breakthrough on the Bristol site. One of the proponents of this scam has now acknowledged that the only way that the scheme can keep going is with a constant inflow of new members. Even then she doesn't see the basic flaw in the scheme that eventually there will be no more people to recruit.

Looking at the answers from the person called "Gee" brings to mind GiveandTake from this forum. I wonder if she is the same person. She certainly has the same misguided ideas about this scam.