The one involving an upside down pyramid where you put in upto £3,000 and stand to make £24,000.
You start at the top of the pyramid and keep moving down depending on how many people you get to join.
Once you are at the bottom you go into 'receivership' and you get the £24,000 from other people that have joined.
I heard about this scheme at work today. One colleaugue joined in December, she put in £2,250 and stands to make £18,000 in the next couple of weeks. Another colleaugue has made £12,000 so far.
I'm in two minds about it and was wandering if anyone had any good or bad experiences of this scheme that they could share with me.
2007-01-09 06:51:00 · 6 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
These are called pyramid schemes and No 1 they are illegal in the UK.
It works like this - you pay in and recruit others who pay in and you are reliant on them recruiting others to get your pay.
Simple maths means that very soon the pyramid collapses and only the top of the pyramid gets paid. At the top are the starters to the pyramid who take their money and move onto the next scam.
Beware also Gifting Clubs
2007-01-09 07:11:21 · answer #1 · answered by Biz Guru 5 · 1⤊ 0⤋
Do not under any circumstances into a pure network marketing scheme or MLM (Multi-Layer Marketing) scheme. It's a glorified pyramid selling scheme (which is illegal by the way) dressed up to be "legal". The only people who make any real money out of these schemes are the people at the top who are the ones going round the hotel suites doing the pitches to get lesser mortals involved. Your colleagues are likely to get back less than a Fare Pak customer.
2007-01-09 07:05:09 · answer #2 · answered by Del Piero 10 7 · 1⤊ 0⤋
AS you are talking £ sterling you are obviously in the UK, from what you say this scheme is illegal and will be shut down by the DTA. Yes people will make some money initially, that is until it reaches the ears of authority who will act very quickly.
I also note some of the other answers on network marketing or MLM, unfortunately those writers have no clear idea of how the industry works, they have either been taken in by scams or have listened to others who have been unsuccessful in the industry.
Networking is the fastest driver of growth in the world today and those who have decried it with their answers here are actually networking themselves by logging onto Yahoo answers.
2007-01-09 07:23:00 · answer #3 · answered by Eagle 2 · 1⤊ 0⤋
Not a chance I would put that much money in it. Any scheme like that builds on the human greed factor and if you fail to find enough people that are as greedy as you are, you will lose your ***
2007-01-09 06:55:51 · answer #4 · answered by ? 3 · 1⤊ 1⤋
Dont do it a work colleague got sucked into it and lost th eonly winners are those that set it up forget it and invest your money in a wise venture.
2007-01-09 07:48:29 · answer #5 · answered by Anonymous · 1⤊ 0⤋
dont be a mug punter....leave it well alone
2007-01-09 07:04:48 · answer #6 · answered by Anonymous · 0⤊ 0⤋