Another Pyramid Con

trisontana

I thought something was happening after these two recent comments on the Bristol newspaper website :-

To all of you women that are worried at the moment, do not fear. We have sorted everything out and just make sure you meet your group again right now. It's payout time!!!!!!!

and

...... a full refund for those that wish to withdraw from the gifting scheme. It is that simple.

BFG_2

from the Daily Mirror today...

Three women were arrested yesterday in Bristol and the nearby village of East Harptree as part of an Office of Fair Trading investigation into a suspected unlawful pyramid scheme.
Around £18million is thought to have changed hands, in which recruits paid £3,000 to join and were expected to enlist two more members.

trisontana

Glad to see things are moving on that front. I think that makes eight people who have been arrested in the Bristol area since January. Full story here:-

http://www.google.com/hostednews/ukpress/article/ALeqM5haLcaTLdwWTy4Fya0lQnPXw2NRQw

MothballsWallet

trisontana wrote: »

Tonight's Watchdog featured Lindi Mngaza from the Apprentice seemingly running a pyramid scheme, as can be seen here:-

http://www.bbc.co.uk/blogs/watchdog/2008/11/pyramid_gifting.html

Lindi came into the studio for an interview and she came out with the old arguments that she wasn't doing anything illegal, she had checked with a solicitor that the scheme was pukka, and that everyone would not only get their money back but everyone would make a profit. Stupid deluded woman.

Btw, the first comment on that link (by BlindFish) was by yours truly, MSE's very own MothballsWallet...

bigswizz

I too am aware of a women only pyramid scheme operating in the brislington area of bristol. Luckily I did not get involved but know people that have lost money. Surprisingly one of the organisers Becky Tugwell and her immediate family did well out of it but everyone else seems to be out of pocket. Is there any legal action my friends can take. This is tatamount to theft and I can't beleive these people have the gall to swindle people out of their money!!!

BFG_2

Certainly there is action you can take...

Report to Trading Standards

Report to the police...it's illegal

Issue proceedings in the courts - piece of cake, do it online and goes to Small Claims [cheaper, no expensive solicitors, etc] if less than £5k.

Get stuck in and don't let the b17ch get away with it.

MothballsWallet

sexki11en wrote: »

One of my clients contacted me at work TWICE to try and drag me into this. I no longer take calls from them. Said client was very convincing, and it's easy to see how impressionable or desperate people could get sucked in.

I've half a mind to report said client.

SK x

Report them! They are breaking the law, although Plod may do very little about it, even though what this client was trying to do is illegal...

dealer_wins

bigswizz wrote: »

Luckily I did not get involved but know people that have lost money.

Glad you are more sensible than those you knew that lost money.

I dont think they have much chance of getting their money back, so it will no doubt be an expensive life lesson.

Years ago whilst I was working as an adviser for Lloyds bank a customer came in for a loan to join the "women impowering women" scheme. I explained how it was illeagal and she would properly lose her money but she didnt want to know, and insisted it was "guaranteed"

I even drew the "pyramid" on a piece of A4 and showed how by level 7 the entire UK population would have to join in and that the last level which was 52 million people, would all lose out.

She was having none of it, but I declined the loan even though "computer says yes", and she left fuming.

She came back to me 4 months later with a bunch of flowers and said she was so grateful, and that 2 of her friends lost their £3000 and one of them got their parents involved and they also lost £3000 and have cut her out of their life.

So I guess whenever possible, protect our friends and family members from this scam, and the other 100 million different scams that target them every day.

Greed is powerful and dangerous emotion, and can cause absolute misery, and fraudsters know it only too well, and use it to separate people from their money.

trisontana

The case has now gone to court :- Daily Mirror

trisontana

Here are pictures of the five defendants. I wonder if a certain solicitor will be representing them in court?