Another Pyramid Con

paddyrg

The problem with waking up an old thread is that it reminds everybody of it, and finds a new audience...

http://en.wikipedia.org/wiki/Streisand_effect

In fact it's a pretty good way to stir up trouble for those you are trying to defend.

DavidT

Convictions at last http://www.bbc.co.uk/news/uk-29250910

Coopdivi

giveandtake wrote: »

Morning,

I think we have more or less covered everything now! All I can really say is that the people I know that are involved (about 30) are happily doing it and its all moving nicely (some quicker than others). I really really dont want to see anyone lose their money or be hurt so you can all rest assured that if it all starts going wrong then I will be strainght back on here warning people off. Afterall, that was the point of my first post........ i will be 100% truthful even if it means that I have to have a slice of humble pie!!

I expect giveandtake is busy right now. She'll probably let us know in nine months time.

trisontana

Who would have thought that when I started this thread back in 2007 that it would take all this time for it to reach a conclusion? The figure involved of between £18m and £21m is truly staggering.

This news report gives more details of how this con operated:-

http://news.uk.msn.com/uk/women-guilty-over-pyramid-scheme

What is interesting is the way they tried to circumvent the law by staging those mock quizzes. They even managed to convince a tame lawyer that all this was above board.

I wonder if the courts will evoke the proceeds of crime act and try to claim some of the money back? If so, who will get the money, the government or the victims?

DavidT

Yes, I was also wondering about the money and where it is and whether it can be recovered. Having just watched the news reports I don't think any of them looked at all sorry.

trisontana

I have just been watching the BBC local news from the Bristol area. They are reporting that a judge, a couple of barristers and several police officers believed the lies spouted by these con artists and invested their money (and presumably lost the lot).

DavidT

Greed has no boundaries I suppose but you would have thought they would have been a bit brighter.

robatwork

giveandtake wrote: »

Hi, Im back.....
Obviously I cannot speak for the other 500 or so charts but ours has been a pleasure to be involved in........no fallings out or catfights, just a handful of people trying to scrape through life with babies on the way and Christmas to pay for, we are NOT scam artists...

http://www.telegraph.co.uk/news/uknews/11104494/Brides-of-Bristol-jailed-for-21m-fraud-running-champagne-pamper-parties.html

No extra comment necessary. It's always a scam.

trisontana

This press release by the Competitions and Market Authority answers my question about trying to get the money back from these con merchants:-

https://www.gov.uk/government/news/nine-convicted-of-multi-million-pound-pyramid-promotional-scheme

The CMA is also continuing with action to confiscate defendants’ criminal assets under the Proceeds of Crime Act 2002.

Sasahara

It's shocking how poor at Maths people are.


Even the posters that know this was a pyramid scam failed on basic counting, quoting 7 people loosing money for every pay-out, when in reality it's 8 people that loose out per winner. It took almost 200 posts before someone go this right. :P


(Currently burning time while waiting for the Scottish referendum results)