Another Pyramid Con

tomstickland

This time it's called WISE (Women's Investment Syndicate) but has al the hallmarks of the notorious "Women Empowering Women" scam .

I remember when this big in the Gloucester/Forest of Dean area a few years back. It's a simple pyramid scheme and why those taking part couldn't see the con I don't know.

trisontana

I think people get brainwashed into thinking they can make a fortune with theses schemes by some very slick sales people. I have heard some really stupid reasons why these schemes can make money for every recruit. One was over only recruiting women. This was because "men don't understand the concept of the scheme and only women can make it work"

As usual with many scams it is the people who are struggling financially who get suckered into handing over money and lose out, while the fat cats at the top take all the profits.

scamreporter_2

They get brainwashed in a simple Darren Brown style. A friend asked me to look at it, I said scam. This was ridiculed by other women. After all I am a man so what would I know. Apparently only women would understand how to make the scheme work.

I have passed on lots of info to trading standards to investigate. they asked me to inform the police. The attitude from the local police was shocking.

a) they didn't realize they will be illegal section 43 of the Gambling act 2005 from September
b) said they would just let them run its course ( protect the public I said, lots of people are being ripped off )
c) said WISE wasn't all bad because you can make money ( Actually I worked out less than in other schemes because people re-invest this means really they get multiple payouts )
d) indicated several members of staff at the police station were in the scheme....who knows if thsi is true or not

I was shocked and saddened, they didn't even except that people will lose money, even when I showed them a 2,4,8, etc pyramid howm many people will lose they couldn't see it...

Anyhow, I have also passed on the information and documentation I managed to get hold of to the press hopfeully I can get the scheme collapsed sooner rather than later.

the sooner the fewer people will lose out.

scamreporter_2

Starting to hit the press now.

maninthestreet

scamreporter wrote: »

They get brainwashed in a simple Darren Brown style. My wife was invited with her sister and she nearly put cash in even with me showing her why they fail. After all I am a man so what would I know.

I have passed on lots of info to trading standards to investigate. they asked me to inform the police. The attitude from the local police was shocking.

a) they didn't realize they were now illegal section 43 of the Gambling act 2005
b) said they would just let them run its course ( protect the public I said, lots of people are being ripped off )
c) said WISE wasn't all bad because you can make money
d) indicated several members of staff at the police station were in the scam....

I was shocked and saddened, they didn't even except that people will lose money, even when I showed them a 2,4,8, etc pyramid howm many people will lose they couldn't see it...

Anyhow, I have also passed on the information and documentation I managed to get hold of to the press hopfeully I can get the scheme collapsed sooner rather than later.

the sooner the fewer people will lose out.

This is really shocking - I would have logged a formal complaint with the police - they are duty bound to investigate a complaint of an alleged criminal
offence. Is it too much to ask that the police are not ignorant of the law themselves? Other excuses such as 'not a priority' or 'not enough resources' are also not acceptable. The police need to learn that 'selective policing' is not only unacceptable, but is also not lawful.

scamreporter_2

I think this scams had it it was front page news in t he local rag this morning and now TV are all over it, and the BBC have got hold of it its under the SW area bit....

Apparenty the law is not active until September

rdwarr

The "maths" is easy if you look at it this way.
If the investment is £100 and the promised payout is £1000 then 90% of investors get nothing!

scamreporter_2

Have a look at

http://www.westerndailypress.co.uk/displayNode.jsp?nodeId=145786&command=displayContent&sourceNode=231644&home=yes&more_nodeId1=145795&contentPK=17144886

may be worth Mrs Box and Vicky actually being informed.....

Actually from the sound of it the DTI may be interested in Mrs Box

Jennifer_Jane

Apart from Mrs Box, and Vicky, who are beyond the pale, and the well-publicised maths of pyramid schemes, it is totally immoral to go into something which you know for absolute fact will cause hardship to people. This is the most disgusting greed and the women who do get a payout, even if they are not organisers, are also immoral. How sad this all is, and women still falling for it.

love
Jen x

scamreporter_2

http://www.bbc.co.uk/pointswest/latest_stories/index.shtml

Possible con story