Tuesday, September 30, 2008

The Return Of The Pyramid Scheme

A new pyramid scheme chain letter is now circulating that promises to make persons $250,000 to $800,000 in a few weeks. Unfortunately, because it involves persons to send $3 each to seven persons on a list with the request of "Please add me to your mailing list", this latest scam may actually be legal for now and outside the reach of law enforcement.

The problem like all pyramid schemes is that some persons at the top of the list will make some money and persons at the bottom are simply left out. Pyramid schemes are supposed to be illegal, but the request to be put on some mailing list may legally constitute some purchase, which might allow the organizers of this scam to evade prosecution for now.

As the economy sours, many persons including those unemployed or stay at home housewives might be tempted to try some letter such as this. But in most cases they will only end losing money to some scammer who is running the letter scam.

Like most other pyramid schemes, there are most likely faked testimonials on how some down and person suddenly raked in some major money by becoming part of the scheme. The reality is that this most likely never happened. It's all a complete lie. It's also claimed that the pyramid letter was a part of both 20/20 and Oprah Winfrey, however it is not mentioned that this is most likely as an investigation into pyramid scams.

A company that sells mailing lists of names is mentioned in the letter where you can purchase 200 names to mail the pyramid letters for $45. I've contacted this company to ask whether they are a part of this pyramid chain letter or not and awaiting their response.


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