It says that it was proven on Oprah and Dateline. You have to remove the first name from the list and add your own. You then send the modified letter to 200 plus people. It even quotes some lottery section of the law to prove it is legal. It promises that a small percentage will send a dollar back to you, but as they send out their 200 letters with your name on it, you'll be in the money.
2007-12-06 07:31:34 · 7 answers · asked by nikki 1 in Business & Finance ➔ Other - Business & Finance
It's a variation of a chain letter, and odds are you'll just end up losing money and annoying everyone you know.
2007-12-06 07:34:41 · answer #1 · answered by Stacia Z 3 · 0⤊ 0⤋
Scams always say they are legal. They figure you'll either believe it or try to find the non-existent section of the code. The last one of these I saw had an elaborate set of instructions telling you to wrap the money in several blank sheets of paper before mailing it--saying that the USPS employees might steal it otherwise. Modern ones probably say, be sure to set up a Paypal account first.
What you are describing is an old fashioned chain letter. These are Ponzi schemes and are illegal across the ENTIRE UNITED STATES.
Back before the web, the cost of postage usually stopped too many of these from getting started; now they proliferate easily, though your ISP could ban you for participating. Paypal will also freeze your account.
2007-12-06 07:38:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's another scam. It's like sending out 1000 requests for a dollar and if 100 people send u a dollar then u just made $100 bucks easy. But it's stupid and a waste of time. Stupid pyramid scam.
2007-12-06 07:35:10 · answer #3 · answered by jmiller 5 · 0⤊ 0⤋
Sorry but that's called a PYRAMID SCHEME and it's totally ILLEGAL.
I guarantee that Dateline and Oprah are aware of this and would not be promoting it.
Wikipedia
http://en.wikipedia.org/wiki/Pyramid_scheme
Federal Government - U.S. Securities and Exchange Commission
http://www.sec.gov/answers/pyramid.htm
Why they don't work:
http://www.zyra.org.uk/pyraschm.htm
2007-12-06 07:36:04 · answer #4 · answered by $Sun King$ 7 · 0⤊ 0⤋
Yeah,I have seen that letter and thought about trying it but didn't. Sounds too good to be true. I don't think there is such a thing as free money.
2007-12-06 07:35:55 · answer #5 · answered by warmkatladycat 3 · 0⤊ 0⤋
That's total rubbish. No such scheme can possibly make you any money. It's mathematically impossible, trust me. Save your money and your postage. Good night!
2007-12-06 07:40:30 · answer #6 · answered by anonymous 7 · 0⤊ 0⤋
No I have not. I live in the UK and was unaware that the USA had such a letter scheme.
2007-12-06 07:34:38 · answer #7 · answered by Anonymous · 0⤊ 0⤋