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Pyramid Schemes: Quick Way To Make Lots Of Money? - Crime - Nairaland

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Pyramid Schemes: Quick Way To Make Lots Of Money? by sbucareer(f): 10:23am On Jan 07, 2006
What Do You Think About Pyramid Game -- Shortway To May Lots Of Money

This is what I think about it.  Although some have reported success on it but that is all the scam about it.  I remember when I was at school back in Nigeria; we had these pyramids quick way of becoming rich.  Then it was called favour and I played it with =N=1 then, I wonder what has become of it now and my investment.

These are my findings:

1.  [url=http://members.impulse.net/~thebob/Pyramid.html]Pyramid scam[/url]
2. Rice Boy

Warning from paypal

3. Paypal

British Consumers Affairs Commission

DTI
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by otokx(m): 11:26am On Jan 07, 2006
there are few if any shortcuts to getting rich quickly
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by Seun(m): 1:36pm On Jan 07, 2006
A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, usually without any product or service being delivered. Pyramid schemes have existed for at least a century. In addition, other methods of conducting business known as multi-level marketing (MLM) and as "matrix schemes" often closely resemble pyramid schemes (although unlike pyramid schemes, which are almost always frauds, MLM and matrix schemes are in many cases regarded — at least legally — as legitimate business methods).

Most pyramid schemes are attempts to confuse potential consumers into complicated but convincingly fool-proof money making scams.

http://en.wikipedia.org/wiki/Pyramid_scheme
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by joftech(m): 3:05pm On Jan 07, 2006
sbucareer thanks for starting this thread. I wanted to start a thread like this today until i saw this.

The old-fashioned Pyramid schemes has given way to MLMs in Nigeria.

The most prominent of them are Tiens Tianshi and GNLD (although they sell products too).

There have been claims of villa, cars, yatch and plane rewards for participants. I will be glad if anyone will be able to share expereinces with these companies.
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by layi(m): 3:33pm On Jan 07, 2006

The most prominent of them are Tiens Tianshi and GNLD (although they sell products too).


A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, usually without any product or service being delivered

Where do we draw the line btw Referal programs and Pyramid schemes? I know lots of referral programs offer something close to a pyramid scheme but they are genuine.
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by Seun(m): 4:34pm On Jan 07, 2006
If the product is genuine such that people will buy it whether or not there is an incentive to promoting it, then it's probably legitimate. I's ok to pay someone for referring your product but in a situation where there is no one buying the product for a genuine need but all those who are buying it are buying it so they can get rich by convincing others to sell it, then there's a problem.
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by Loads: 11:12pm On Feb 10, 2007
Referral programs are not pyramid they are network marketing. Network marketing is a very effective way of reducing advertising cost and making people work for themselves. Network marketing is very big here in UK there are companies that have built multimillion and billion pound businesses through this advertising methog e.g herballife, Kleeneze, Telco Global communication, and many many many more and anyone can work for them.
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by sbucareer(f): 4:08pm On Feb 11, 2007

@above

You should read this and research about 12dailypro.com and other pyramid scams like that.

After they would say Nigerians are serious scammers.
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by olugbon01(m): 9:34pm On Sep 22, 2009
scammers
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by incomeboostng: 2:25pm On Mar 02, 2017
Pyramid schemes are illegal and very risky 'get-rich-quick' schemes that can end up costing you a lot of money.

Reason:
A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. ~ Wikipedia

Pyramid scheme fraud involves an unsustainable business which rewards people for enrolling others into a business that offers a non-existent or worthless product. ~ ActionFraud


So, beware!


However, if you really want to make money legitimately and build sustainable businesses and have peace of mind, then you should see www.incomeboostng.com .You would discover mistakes you should avoid, how to get started and a lot more.
Re: Pyramid Schemes: Quick Way To Make Lots Of Money? by incomeboostng: 3:13pm On Mar 02, 2017
Seun:
A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, usually without any product or service being delivered.

Most pyramid schemes are attempts to confuse potential consumers into complicated but convincingly fool-proof money making scams.

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

Exactly!

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