Secret of Pyramids?
Chris Gunn
Monday, March 18th, 1996
The Oregon Attorney General Theodore R. Kulongoski recently announced the
filing of suits against the Gift Club pyramid scheme and its three
organizers in Oregon. All of you on the Net are familiar with these
schemes. You send money to a list of people, and then you're added to a
list and you start receiving money.
Here's what the Oregon Attorney General was quoted as saying about such
schemes in his press release. "Pyramids are illegal because they are
inherently fraudulent. In order to keep a pyramid working so everyone
recruited gets the promised money, the number of investors would have to
quickly exceed the population of the United States. Just use a little
common sense and you'll know the pyramid can't work for a very long time
without collapsing, making money for a few at the expense of many."
In the case of the Gift Club scheme, the Oregon AG has asked everyone
involved to return all the money they received. The lawsuit filed by that
office "seeks to prohibit club members from participating further in the
scheme and transferring assets, return of all assets gained by club
participation and civil penalties of $25,000 for each wilful violation of
the Unlawful Trade Practices Act."
Remember, if there's a secret to a pyramid, it's that pyramid schemes are
illegal.
Log on the WebSite at http://www.fraud.org, or call 1-800-876-7060.
If you spot obviously illegal operations on the E-Ways, please
forward copies of the messages to NFIC at frau...@psinet.com.
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