Coop 50-50 scheme scam

Enigmaman

A friend s convinced the Coop 50-050 scheme is genuine but it looks like the most obvious scam to me. A Pozi scheme.

Am I right?

eskbanker

Enigmaman said:

A friend s convinced the Cop 50-050 scheme is genuine but it looks like the most obvious scam to me. A Pozi scheme.

Am I right?

What "Cop 50-050 scheme"?

jamei305

Yes, it took me six words into their "how it works" page to conclude that. (https:// coop5050 dot com/how-it-works)

GeordieGeorge

Enigmaman said:

A friend s convinced the Cop 50-050 scheme is genuine but it looks like the most obvious scam to me. A Pozi scheme.

Am I right?

It’s nothing to do with the co-op, and yes, it’s a Ponzi scheme.

Enigmaman

eskbanker said:

Enigmaman said:

A friend s convinced the Cop 50-050 scheme is genuine but it looks like the most obvious scam to me. A Pozi scheme.

Am I right?

What "Cop 50-050 scheme"?

Typo, now edited.

{Text removed by Forum Team}

agent69

That’s $287,100 annually with minimal effort

That's gotta be tempting

Albermarle

agent69 said:

That’s $287,100 annually with minimal effort

That's gotta be tempting

It is just a figure picked out of thin air .

Normally a very blatant Ponzi scheme like this, with no actual product involved , would get shut down . 
Usually they at least have some kind of product involved ( cleaning products for example ) and call them selves multi level marketing schemes so they are operating in a more grey area.

Eyeful

If it looks like a duck
Walks like a duck
Quacks like a duck 
I call it a duck. Even if it comes to me via "crowdfunding".

kuratowski

But... how can you doubt One-Of-A-Kind Mobius Loop Super Technology!?

dj1471

That was a fun read, thanks for the link.

They claim to be based in Barbados but surprisingly no such company exists on the Barbados companies register.

HappyHarry

Enigmaman said:

A friend s convinced the Coop 50-050 scheme is genuine but it looks like the most obvious scam to me. A Pozi scheme.

Am I right?

It is a pyramid scheme. Not a Ponzi scheme, but that is splitting hairs. Either way, most people will lose their money.