Money Making?

Question

What it true a few years ago there was a money making scheme called the pyramid how does it work

Answer 1

I went to a pyramid scheme seminar once, they are intesting to go to just to see how the people run then. The people who run them are really good sales people. They will tell you this is a once in a life time chance, don't be a loser and miss out. Its really the hard sell. They don't want you to leave the room without signing up.

I just kept repeating i was not interested until they got bored in the end. But people lost thousands including the person who introduced me.

Answer 2

There have been pyramid schemes (or Ponzi schemes) for a loooong time. What you may be talking about is PiPs, which many believe was a pyramid scheme.

Basically, the idea is I tell you to give me $10 and I'll give you $20 back or some high interest rate on your money. Sounds like a good idea to you, so you tell your friends about it. I use their money to pay back other people, and so it goes. The "pyramid" part is how it starts with one or a few people and builds from there. Eventually, you run out of "investors" and the whole thing crumbles -- and a lot of people are screwed out of their money, since they're the "base" of the pyramid.

Answer 3

Pyramid schemes have been around for over 100 years.

I think you are asking about a specific pyramid scheme from 2003. "In 2003, an internet-based "pyramid scam" was uncovered by the United States Federal Trade Commission (FTC), where customers would pay a registration fee to join a program and purchase a package which included Internet mall and related goods and services. The FTC's complaint states that the company assured consumers who purchased the package would allow them to earn significant commissions for every WebSuite sold."

For more information about pyramid schemes in general and the 2003 scheme in particular, see

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

Answer 4

Yes that's true. As far I know it worked in the way that you invested some money in some kind of scheme and then you had to sell that to other people. But if you failed to sell enough "stocks" your investment was lost. And even if you did the criminals behind these "pyramid games" found way to not pay you.
Obviously it was illegal and fraudulent - and as far I know these things don't exist anymore. But stay away from such things!

Answer 5

It doesn't work, only for the crims who set it up - everyone else loses. It is illegal in the UK, and should be so everywhere

Answer 6

sure and the people involved usually get arrested and go to jail because it's illegal