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642:, after the collapse of several pyramid schemes. Thousands of victims had invested their money in pyramids that promised them extraordinary interest rates. The lack of regulatory laws allowed those pyramids to grow excessively for several years. Finally, after the riots, the Colombian government was forced to declare the country in a state of economic emergency to seize and stop those schemes. Several of the pyramid's managers were arrested, and are being prosecuted for the crime of "illegal massive money reception."
78:
301:, where each person in the pyramid is tasked with bringing in their own subordinates and in turn profiting from their sales or recruitments. This fails because it essentially requires an infinite number of people to join the company. In a Ponzi scheme, however, participants are promised returns on "investments", supposedly into stocks or goods, but which are actually paid for by new investors, while a central leading figure takes a portion as profit.
709:, a legitimate savings club model where the number of people paying into the pot is fixed and each person gets a payout on regular basis. This is distinct from the pyramid scheme variation making use of the hierarchical flower model, where new members are continually recruited into the group by people at the edges of the flower. This re-imagining of the old Airplane/8-ball model is making a resurgence on social media platforms such as
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biggest terms in this geometric sequence are at the end, most people will be in the lower levels of the pyramid; accordingly, the bottom layer of the pyramid contains the most people. The people working for pyramid schemes try to promote the actual company instead of the product they are selling. Eventually, all of the people at the lower levels of the pyramid do not make any money; only the people at the top turn a profit.
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176:" and the four tiers labelled as "captain", "co-pilot", "crew", and "passenger" to denote a person's level. Another instance was called the "Original Dinner Party" which labeled the tiers as "dessert", "main course", "side salad", and "appetizer". A person on the "dessert" course is the one at the top of the tree. Another variant, "Treasure Traders", variously used
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item and leave the queue. Each joiner is required to buy an expensive but potentially worthless item, such as an e-book, for their position in the queue. The scheme organizer profits because the income from joiners far exceeds the cost of sending out the item to the person at the front. Organizers can further profit by starting a scheme with a queue with
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and thus will not have any opportunity to profit from the scheme; still, they will have already paid to join. Therefore, a pyramid scheme is characterized by a few people (including the creators of the scheme) making large amounts of money, while subsequent members lose money. For this reason, they are considered
619:, to skirt Irish tax laws concerning gifts. Spin-off schemes called "Speedball" and "People in Profit" prompted a number of violent incidents and calls were made by politicians to tighten existing legislation. Ireland has launched a website to better educate consumers to pyramid schemes and other scams.
237:" in the name. Each participant needs to recruit two people without providing them with any service or product. The scam often resurfaces online across the globe, under different aliases such as "loom circle" or "fractal mandala". The Blessing Loom scheme has been ruled as illegal in multiple US cities.
81:
The unsustainable exponential progression of a classic pyramid scheme in which every member is required to recruit six new people. To sustain the scheme, the 2.2 billion people in the 12th layer would be required to recruit 13.1 billion more people for the 13th layer, even though there are not nearly
204:
If a person is using this model as a scam, the confidence trickster would take the majority of the money. They would do this by filling in the first three tiers (with one, two, and four people) with phony names, ensuring they get the first seven payouts, at eight times the buy-in sum, without paying
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terms such as "polishers", "stone cutters", etc. One version called the
Abundance Fractal uses the four elements as the names of tiers: "Fire", "Air", "Earth", and "Water". A more recent variation known as the Living Workshop takes the names of plants, calling the tiers "seed", "sapling", "blossom",
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In the United
Kingdom in 2008 and 2009, a £21 million pyramid scheme named 'Give and Take' involved at least 10,000 victims in the south-west of England and South Wales. Leaders of the scheme were prosecuted and served time in jail before being ordered to pay £500,000 in compensation and costs
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Matrix schemes use the same fraudulent, unsustainable system as a pyramid; here, the participants pay to join a waiting list for a desirable product, which only a fraction of them can ever receive. Since matrix schemes follow the same laws of geometric progression as pyramids, they are subsequently
200:
The eight passengers must each pay (or "gift") a sum (e.g., $ 5,000) to join the scheme. This sum (e.g., $ 40,000) goes to the captain, who leaves, with everyone remaining moving up one tier. There are now two new captains so the group splits in two with each group requiring eight new passengers. A
188:
Whichever euphemism is used, there are 15 total people in four tiers (1 + 2 + 4 + 8) in the scheme—with the
Airplane Game as the example, the person at the top of this tree is the "captain", the two below are "co-pilots", the four below are "crew", and the bottom eight joiners are the "passengers".
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People in the upper layers of the pyramid typically profit, while those in the lower layers typically lose money. Since most of the members in the scheme are at the bottom, most participants will not make any money. In particular, when the scheme collapses, most members will be in the bottom layers
106:
to an end consumer, mainly earns money by recruiting new members with the promise of payments (or services). As the number of members multiplies, recruiting quickly becomes increasingly difficult until it is impossible, and therefore most of the newer recruits do not make a profit. As such, pyramid
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The difference between a pyramid scheme and a lawful MLM program is that there is no real product that is sold in a pyramid scheme. Participants attempt to make money solely by recruiting new participants into the program. The hallmark of these schemes is the promise of sky-high returns in a short
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founded in 2004 and based in New York City. By 2006 the company reported 30,000 members using the site to sell music through its network. In 2007, the
Federal Trade Commission sued the company for being an illegal pyramid scheme. The company lost the suit in 2012, and lost appeal in June 2014. In
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Such schemes operate as a queue, where the person at head of the queue receives an item such as a television, games console, digital camcorder, etc. when a certain number of new people join the end of the queue. For example, ten joiners may be required for the person at the front to receive their
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Such organizations seldom involve sales of products or services with value. Without creating any goods or services, the only revenue streams for the scheme are recruiting more members or soliciting more money from current members. The behavior of pyramid schemes follows the mathematics concerning
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In March 2017, Ufun Store registered as an online business for its members as a direct-sales company was declared operating a pyramid scheme in
Thailand. The Criminal Court handed down prison terms totaling 12,265 to 12,267 years to 22 people convicted over the scheme, which conned about 120,000
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such as internet mail, and that the company offered "significant commissions" to consumers who purchased and resold the package. The FTC alleged that the company's program was instead and in reality a pyramid scheme that did not disclose that most consumers' money would be kept, and that it gave
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Many pyramids are more sophisticated than the simple model. These recognize that recruiting a large number of others into a scheme can be difficult, so a seemingly simpler model is used. In this model each person must recruit two others, but the ease of achieving this is offset because the depth
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Some commentators contend that MLMs in general are nothing more than legalized pyramid schemes. There are different laws in every state, and they take different actions toward pyramid schemes, but multi-level-marketing is legal. Multi-level marketing lobbying groups have pressured US government
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quite closely. Each level of the pyramid is much larger than the one before it. For a pyramid scheme to make money for everyone who enrolls in it, it would have to expand indefinitely. When the scheme inevitably runs out of new recruits, lacking other sources of revenue, it collapses. Since the
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In a pyramid scheme, an organization compels individuals who wish to join to make a payment. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also
324:
Not all multi-level marketing plans are legitimate. If the money you make is based on your sales to the public, it may be a legitimate multilevel marketing plan. If the money you make is based on the number of people you recruit and your sales to them, it's probably not. It could be a pyramid
256:
Pyramid schemes—also referred to as franchise fraud or chain referral schemes—are marketing and investment frauds in which an individual is offered a distributorship or franchise to market a particular product. The real profit is earned, not by the sale of the product, but by the sale of new
184:
Such schemes may try to downplay their pyramid nature by referring to themselves as "gifting circles" with money being "gifted". Others focus on sharing circles or educational themes around "abundance" to divert attention away from the unsustainable structure. Popular schemes such as "Women
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Multi-Level
Marketing firm, accused of operating an illegal pyramid scheme. In December 2016, Vemma agreed to a $ 238 million settlement with the FTC, which banned the company from "pyramid scheme practices" including recruitment-focused business ventures, deceptive income claims, and
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Although the "captain" is the person at the top of the tree, having received the payment from the eight paying passengers, once they leave the scheme they are able to re-enter the pyramid as a "passenger" and hopefully recruit enough to reach captain again, thereby earning a second payout.
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reported on 26 November 2008 that
American citizen Robert Fletcher (Robert T. Fletcher III; aka "Rob") was arrested by the SBU (Ukraine State Police) after being accused by Ukrainian investors of running a Ponzi scheme and associated pyramid scam netting US$ 20 million. (The
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The U.S. Federal Trade
Commission warns against becoming involved "in plans where the money you make is based primarily on the number of distributors you recruit and your sales to them, rather than on your sales to people outside the plan who intend to use the products."
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In contrast, pyramid schemes "may purport to sell a product", but often "simply use the product to hide their pyramid structure". While some people call MLMs in general "pyramid selling", others use the term to denote an illegal pyramid scheme masquerading as an MLM.
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person who joins the scheme as a passenger will not see a return until they advance through the crew and co-pilot tiers and exit the scheme as a captain. Therefore, the participants in the bottom three tiers of the pyramid lose their money if the scheme collapses.
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receive a share of these payments. For the directors, the scheme is potentially lucrative—whether or not they do any work, the organization's membership has a strong incentive to continue recruiting and funneling money to the top of the pyramid.
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Schemes may not reveal, or may attempt to exaggerate, a prospective joiner's queue position, a condition that essentially means the scheme is a lottery. Some countries have ruled that matrix schemes are illegal on that basis.
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There are multi-level marketing plans – and then there are pyramid schemes. Before signing on the dotted line, study the company's track record, ask lots of questions, and seek out independent opinions about the
585:(FTC) disclosed what it called an Internet-based "pyramid scam." Its complaint states that customers would pay a registration fee to join a program that called itself an "internet mall" and purchase a package of
1959:
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tricks potential investors by claiming to turn $ 100 into $ 800. This scheme has a circular structure, as increases in new recruits pushes individuals closer to the center of the circle, hence the "
1990:
675:. TVI Express, operated by Tarun Trikha from India, has apparently recruited hundreds of thousands of "investors", very few of whom, it is reported, have recouped any of their investment.
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The
Airplane Game scheme resurfaced in 2020 as a savings club by the name of the Blessing Loom, Blessing Circle, Sending Flower, Gifting Flower, and so on. It is also misrepresented as a
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209:. They would continue to buy in underneath the real investors, and promote and prolong the scheme for as long as possible to allow them to skim even more from it before it collapses.
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distributorships. Emphasis on selling franchises rather than the product eventually leads to a point where the supply of potential investors is exhausted and the pyramid collapses.
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1864:"IRB – Immigration and Refugee Board of Canada: The company Goldmine International; treatment of people affiliated with the company by Iranian authorities"
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legitimate MLM businesses are distinguished from pyramid schemes by participants making money primarily from product sales, rather than recruitment:
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names that must be cleared out before genuine people get to the front. The scheme collapses when no more people are willing to join the queue.
611:. Participants were asked to contribute €20,000 each to a "Liberty" scheme which followed the classic eight-ball model. Payments were made in
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required to recoup any money also increases. The scheme requires a person to recruit two others, who must each recruit two others, and so on.
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313:(MLM) companies operate as pyramid schemes and consumers often confuse legitimate multi-level marketing with pyramid schemes.
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schemes are unsustainable. The unsustainable nature of pyramid schemes has led to most countries outlawing them as a form of
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The "Blessing Loom" is identical to the classic "Airplane Game", with a circular diagram obscuring the pyramid structure.
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A number of authorities around the world declared TVI Express to be a pyramid scheme in 2010 and 2011, including the
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2014:
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The
Commissioner of Law revision, Malaysia Under the Authority of the Revision of Laws Act 1968 (1 March 2013).
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anything themselves. So if the buy-in were $ 5,000, they would receive $ 40,000, paid for by the first eight
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was a scheme run by Finnish criminals that involved about €100 million. The scheme started in 2005.
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578:; however, they were widely referred to as pyramid schemes due to their prevalence in Albanian society.
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1336:
The Skeptic's Dictionary: A Collection of Strange Beliefs, Amusing Deceptions, and Dangerous Delusions
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period of time for doing nothing other than handing over your money and getting others to do the same.
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Pyramid schemes have existed since at least the mid-to-late 19th century in different guises. Some
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June 2015, the FTC began returning $ 1.9 million to people who had lost money in the scheme.
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2186:, ข้อมูลเพิ่มเติมในระบบธุรกิจขายตรงและธุรกิจพีระมิด by Thai Direct Selling Association (in Thai)
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ACCC obtains restraining orders against operators of alleged pyramid selling scheme TVI Express
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1743:"Door to Door Selling – Pyramid Selling – Multilevel Marketing". November 1999. p. 130.
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1052:"Multilevel marketing and pyramid schemes in the United States: An historical analysis"
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Franchising & licensing: two powerful ways to grow your business in any economy
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in 2015. The cost of bringing the prosecution was in excess of £1.4 million.
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Rada at first reading passes bill on banning financial pyramid schemes in Ukraine
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The invisible customer: strategies for successive customer service down the wire
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1777:"Act C of 2012 on the Criminal Code – Section 412: Organising a pyramid scheme"
743:
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555:
95:
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2167:– Tillkännagivande (2008:487) med anledning av marknadsföringslagen (2008:486)
2062:
1521:"Competition and Consumer Act 2010 – Schedule 2, Division 3 – Pyramid schemes"
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1991:"Sentence by the High Council of the Netherlands regarding a pyramid scheme"
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The "eight-ball" model contains a total of fifteen members. Note that in an
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1 + 2 + 3 + 4 + 5 = 15. The pyramid scheme in the picture in contrast is a
2728:) by Eamon Dillon, published September 2008 by Merlin Publishing, Ireland.
2063:"First penalty imposed for soliciting into so-called pyramid-type schemes"
1764:
1707:[The Consumer Protection Law of Estonia] (in Estonian). §12(8) #14
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3116:
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3026:
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2813:
2411:"Caught! American arrested in Kyiv on suspicion of fraud – Nov. 26, 2008"
2153:
Pyramid Schemes Illegal Under Section 83c of the Banking Act of Sri Lanka
2140:
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2881:
2573:"Vemma Agrees to Ban on Pyramid Scheme Practices to Settle FTC Charges"
728:
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also reports that some estimates are as high as US$ 150 million.)
367:
2323:"SS: Some WinCapita Ponzi scheme victims to soon receive compensation"
631:
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2435:"Prosecuting members of a £21m pyramid scheme cost taxpayers £1.4m"
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491:
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383:
346:
Pyramid schemes are illegal in many countries or regions including
206:
177:
2808:
2139:
Multi-Level Marketing and Pyramid Selling (Prohibition) Act (
2065:. Office of Competition and Consumer Protection. 22 January 2021.
1730:"Rahankeräyslaki 255/2006 – Ajantasainen lainsäädäntö – FINLEX ®"
985:
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551:
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419:
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347:
2052:, "Investors in Philippine Pyramid Scheme Lose over $ 2 Billion"
1674:"Proyecto De Ley Que Prohíbe La Venta Bajo El Esquema Piramidal"
1498:. Australian Competition and Consumer Commission. Archived from
909:
Commission, Australian Competition and Consumer (May 14, 2015).
152:
3407:
3267:
2739:
2646:"BE AWARE: 'Blessing Loom' scam is resurfacing on social media"
1862:
IRB – Immigration and Refugee Board of Canada (24 March 2010).
627:
612:
608:
547:
535:
527:
503:
499:
487:
471:
455:
403:
375:
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689:
In August 2015, the United States FTC filed a lawsuit against
622:
On 12 November 2008, riots broke out in the municipalities of
2803:
690:
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At ten levels deep, the "airplane game" has an 87% loss rate.
141:
108:
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773:
748:
479:
475:
431:
234:
953:
Okwe Mathias, Abuja; Merlyn Mathews, Lagos (21 May 2019).
293:
While often confused with each other, pyramid schemes and
1953:"Direct Sales and Anti-Pyramid Scheme Act 1993 (Act 500)"
338:
regulators to maintain the legal status of such schemes.
1391:
2695:"'Blessing looms' pyramid scheme sweeps across Houston"
930:"Pyramid selling scam that preys on women to be banned"
734:
Claims of Social Security in the US as a pyramid scheme
1763:
Pyramid Schemes Prohibition Ordinance (Cap. 617)
590:
affiliates material that allowed them to scam others.
304:
1027:
Ponzi's scheme – the true story of a financial legend
172:
Prior instances of this scheme have been called the "
603:
was hit by a wave of schemes with major activity in
1098:
1096:
1094:
147:
2487:
2466:
1400:Encyclopedia of White-Collar & Corporate Crime
2622:"Ufun fraudsters sentenced to thousands of years"
2598:"Vemma reaches $ 238 million settlement with FTC"
2347:Gardaí hold firearm after pyramid scheme incident
2170:
1542:"Piramideverkoop - Geschillen en klachten - Home"
3561:
2718:The Fraudsters: How Con Artists Steal Your Money
2301:
1896:. Competition and Consumer Protection Commission
1474:"The Rise and Fall of Albania's Pyramid Schemes"
1369:Expert Fraud Investigation: A Step-by-Step Guide
1325:
1286:. Cengage Learning Business Press. p. 278.
1091:
834:. Office of the Attorney General of South Dakota
665:Australian Competition & Consumer Commission
2780:
2445:
1786:. Ministry of Justice of Hungary. p. 138.
1358:
1261:. Cengage Learning Business Press. p. 36.
118:plans have been classified as pyramid schemes.
98:which, rather than earning money (or providing
2462:Australian Competition and Consumer Commission
1868:European Country of Origin Information Network
1838:"Skema Piramida Dilarang, Nasabah Terlindungi"
1624:"Regulation on Prohibition of Pyramid Selling"
1448:"How lobbying dollars prop up pyramid schemes"
1050:Keep, William W; Vander Nat, Peter J. (2014).
1049:
915:Australian Competition and Consumer Commission
825:
702:people out of more than 20 billion baht.
2766:
2508:
1402:. Vol. 2. Sage Publishing. p. 880.
927:
252:as a pyramid scheme. The FBI website states:
2155:Department of Government Printing, Sri Lanka
297:are different. Pyramid schemes are based on
288:
2308:FTC Charges Internet Mall Is a Pyramid Scam
2197:"Government outlaws ponzi, pyramid schemes"
1975:: CS1 maint: numeric names: authors list (
1147:
1059:Journal of Historical Research in Marketing
1029:. New York: Random House Trade Paperbacks.
855:
853:
574:was partially motivated by the collapse of
121:
3524:Criminal enterprises, gangs and syndicates
2773:
2759:
2524:
2408:
2098:"Zakon o trgovini | Republika SRBIJA"
1805:
1310:. Federal Trade Commission. 4 January 2018
1256:
1206:
1107:. Federal Trade Commission. Archived from
955:"SEC declares 'Loom Money' illegal outfit"
908:
828:"Multi-Level Marketing vs Pyramid Schemes"
2547:"9th Circuit Affirms BurnLounge Judgment"
2531:Consumer Watchdog Botswana on TVI Express
2515:South African Sunday Times on TVI Express
1748:
1102:
65:Learn how and when to remove this message
2090:
1484:– via International Monetary Fund.
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1231:
1043:
978:
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220:
191:
151:
76:
2218:"Saadet zinciri operasyonu: 60 gözaltı"
1993:. Zoeken.rechtspraak.nl. Archived from
1331:
1300:
1236:. Gower Publishing Company. p. 4.
1161:
1128:
1024:
1018:
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1471:
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1234:Purchasing scams and how to avoid them
864:. Baker Publishing Group. p. 45.
2754:
2141:Cap. 190, 2000 Rev. Ed.
1793:from the original on 13 December 2021
1181:
1025:Zuckoff, Mitchell (10 January 2006).
981:"Police warn of 'blessing loom' scam"
859:
229:Similar to the eight ball model, the
3423:High-yield investment program (HYIP)
2544:
18:
16:Type of unsustainable business model
3413:Foundation for New Era Philanthropy
1813:"RBI warns against pyramid schemes"
1598:antifraudcentre-centreantifraude.ca
1398:Salinger, Lawrence M., ed. (2005).
1207:Higgs, Philip; Smith, Jane (2007).
681:, Inc. was a multi-level marketing
305:Connection to multi-level marketing
185:Empowering Women" do exactly this.
13:
2671:"Blessing Loom Ponzi Scam: Beware"
2494:BoL warns public about TVI Express
2473:BoN warns public about TVI Express
2369:"National Consumer Agency Ireland"
2018:Commerce Commission of New Zealand
1649:"Colombia scam: 'I lost my money'"
1472:Jarvis, Christopher (March 2000).
1284:Sales & Key Account Management
240:
14:
3596:
2732:
2720:, Chapter 9, "Pyramids of Sand" (
2391:Colombians riot over pyramid scam
2289:Finance and Development | F&D
1103:Valentine, Debra (May 13, 1998).
261:
2738:
1965:from the original on 2022-07-15.
1600:. March 11, 2015. Archived from
993:from the original on 2021-11-04.
565:
248:is defined by the United States
216:
23:
3478:Saradha Group financial scandal
2687:
2663:
2638:
2614:
2590:
2565:
2538:
2427:
2409:Rachkevych, Mark (2008-11-26).
2402:
2382:
2361:
2340:
2315:
2277:
2247:
2231:
2210:
2189:
2158:
2146:
2133:
2114:
2069:
2055:
2043:
2022:
2008:
1944:
1925:
1907:
1886:
1855:
1830:
1769:
1757:
1736:
1718:
1697:
1666:
1641:
1586:
1559:
1534:
1513:
1488:
1465:
1440:
1416:
1275:
1250:
1225:
1200:
1175:
1122:
890:Federal Bureau of Investigation
698:unsubstantiated health claims.
250:Federal Bureau of Investigation
997:
972:
946:
921:
902:
878:
819:
802:
1:
2832:1992 Indian stock market scam
2199:. tt.loopnews.com. 2022-11-16
1784:National Legislation Database
1567:"Govt bans pyramid marketing"
1332:Carroll, Robert Todd (2003).
1211:. Juta Academic. p. 30.
795:
3107:Strip search phone call scam
2922:Extraterrestrial real estate
1679:(in Spanish). Archived from
1626:. fdi.gov.cn. Archived from
1005:"FBI — Common Fraud Schemes"
928:Tracy McVeigh (2001-08-05).
7:
2982:Intellectual property scams
2972:Indian coal allocation scam
2781:Scams and confidence tricks
2519:Sunday Times (South Africa)
1257:Mendelsohn, Martin (2004).
1186:. Kogan Page. p. 112.
716:
581:In 2003, the United States
341:
10:
3601:
3468:Pyramid schemes in Albania
3428:Investors Overseas Service
3360:Website reputation ratings
2534:Consumer Watchdog Botswana
572:1997 Albanian civil unrest
265:
3570:Pyramid and Ponzi schemes
3506:
3498:Welsh Thrasher faith scam
3443:Madoff investment scandal
3368:
3170:
2937:Foreclosure rescue scheme
2822:
2786:
2745:Pyramid and Ponzi schemes
2545:Hull, Tim (2 June 2014).
2285:"Finance and Development"
2220:. Cnnturk.com. 2010-05-14
1232:Kitching, Trevor (2001).
1071:10.1108/JHRM-01-2014-0002
860:Smith, Rodney K. (1984).
289:Relation to Ponzi schemes
3493:Stanford Financial Group
3298:Russian Business Network
3087:Slavery reparations scam
2311:Federal Trade Commission
1725:Rahankeräyslaki 255/2006
1259:The guide to franchising
1133:. Tarcher. p. 356.
583:Federal Trade Commission
318:Federal Trade Commission
122:Concept and basic models
102:) by sale of legitimate
37:may need to be rewritten
3463:Petters Group Worldwide
2552:Courthouse News Service
2086:Ziarul Ziua, 12.07.2006
1478:Finance and Development
979:ABC News (2020-04-20).
830:. Consumer Protection.
826:Website admin. (2024).
814:Encyclopædia Britannica
769:Nouveau Riche (college)
691:Vemma Nutrition Company
673:Central Bank of Lesotho
273:as doomed to collapse.
3157:White van speaker scam
3122:Technical support scam
3097:SSA impersonation scam
3052:Redemption/A4V schemes
2977:IRS impersonation scam
2942:Foreign exchange fraud
2675:OnlineThreatAlerts.com
2602:TruthInAdvertising.org
2255:"Pyramid scheme fraud"
2121:Whitecollarcrime.co.za
1365:Coenen, Tracy (2009).
1308:"Multilevel Marketing"
1169:"Multilevel Marketing"
1129:Edwards, Paul (1997).
636:Santander de Quilichao
327:
316:According to the U.S.
259:
226:
197:
165:
158:arithmetic progression
148:The "eight ball" model
100:returns on investments
87:
2957:Get-rich-quick scheme
2947:Fortune telling fraud
2265:City of London Police
1705:"Tarbijakaitseseadus"
1182:Clegg, Brian (2000).
322:
311:multi-level marketing
254:
224:
195:
162:geometric progression
155:
116:multi-level marketing
80:
3433:Kapa investment scam
3253:Internet vigilantism
3243:Email authentication
3218:Cryptocurrency scams
3112:Swampland in Florida
2747:at Wikimedia Commons
2441:. 14 September 2015.
2371:. Consumerconnect.ie
2076:Explozia piramidelor
1604:on November 13, 2018
1282:Blythe, Jim (2004).
1209:Rethinking Our World
862:Multilevel Marketing
3537:Film and television
3258:Lenny anti-scam bot
3162:Work-at-home scheme
3127:Telemarketing fraud
2987:Kansas City Shuffle
2912:Embarrassing cheque
2329:. 22 September 2016
1655:. November 18, 2008
764:Non-fungible tokens
693:, an Arizona-based
544:Trinidad and Tobago
164:1 + 2 + 4 + 8 = 15.
84:people in the world
3585:Types of marketing
3488:Scott W. Rothstein
3383:Aman Futures Group
2902:Coin rolling scams
2897:Coin-matching game
2579:. 15 December 2016
2499:2011-10-03 at the
2478:2011-10-04 at the
2457:2011-06-02 at the
2352:2008-03-23 at the
2244:(20 November 2013)
2182:2009-02-20 at the
2126:2008-12-01 at the
2081:2016-05-06 at the
1937:2009-06-27 at the
1844:. 15 February 2014
1817:The Times of India
784:Success University
724:Aman Futures Group
695:dietary supplement
683:online music store
587:goods and services
392:Dominican Republic
227:
198:
166:
133:exponential growth
88:
3580:Confidence tricks
3557:
3556:
3519:Confidence tricks
3238:Domain name scams
3137:Thai zig zag scam
3002:Miracle cars scam
2825:confidence tricks
2823:Notable scams and
2743:Media related to
2726:978-1-903582-82-4
2701:. 8 December 2016
2699:Click2Houston.com
2130:, Pyramid Schemes
1894:"Pyramid Schemes"
1496:"Pyramid schemes"
1424:"Pyramid Schemes"
1384:978-0-470-38796-2
1373:. Wiley. p.
1340:. Wiley. p.
1218:978-0-7021-7255-7
1155:"Pyramid Schemes"
1105:"Pyramid Schemes"
911:"Pyramid schemes"
886:"Pyramid Schemes"
299:network marketing
75:
74:
67:
47:lead layout guide
3592:
3388:Bernard Cornfeld
3350:Stock Generation
3278:Referer spoofing
3142:Three-card monte
3132:Thai tailor scam
3092:Spanish Prisoner
3022:Overpayment scam
2962:Green goods scam
2862:Black money scam
2847:Art student scam
2842:Advance-fee scam
2837:2G spectrum case
2775:
2768:
2761:
2752:
2751:
2742:
2710:
2709:
2707:
2706:
2691:
2685:
2684:
2682:
2681:
2667:
2661:
2660:
2658:
2657:
2642:
2636:
2635:
2633:
2632:
2618:
2612:
2611:
2609:
2608:
2594:
2588:
2587:
2585:
2584:
2569:
2563:
2562:
2560:
2559:
2542:
2536:
2528:
2522:
2512:
2506:
2491:
2485:
2470:
2464:
2449:
2443:
2442:
2431:
2425:
2424:
2422:
2421:
2406:
2400:
2399:
2386:
2380:
2379:
2377:
2376:
2365:
2359:
2344:
2338:
2337:
2335:
2334:
2319:
2313:
2305:
2299:
2298:
2296:
2295:
2281:
2275:
2274:
2272:
2271:
2251:
2245:
2242:Interfax-Ukraine
2235:
2229:
2228:
2226:
2225:
2214:
2208:
2207:
2205:
2204:
2193:
2187:
2174:
2168:
2162:
2156:
2150:
2144:
2137:
2131:
2118:
2112:
2111:
2109:
2108:
2094:
2088:
2073:
2067:
2066:
2059:
2053:
2047:
2041:
2040:
2038:
2037:
2026:
2020:
2012:
2006:
2005:
2003:
2002:
1987:
1981:
1980:
1974:
1966:
1964:
1957:
1948:
1942:
1929:
1923:
1922:
1911:
1905:
1904:
1902:
1901:
1890:
1884:
1883:
1881:
1879:
1874:on 24 March 2010
1870:. Archived from
1859:
1853:
1852:
1850:
1849:
1834:
1828:
1827:
1825:
1824:
1809:
1803:
1802:
1800:
1798:
1792:
1781:
1773:
1767:
1761:
1755:
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1740:
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1722:
1716:
1715:
1713:
1712:
1701:
1695:
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1664:
1663:
1661:
1660:
1645:
1639:
1638:
1636:
1635:
1620:
1614:
1613:
1611:
1609:
1590:
1584:
1583:
1581:
1580:
1563:
1557:
1556:
1554:
1553:
1544:. Archived from
1538:
1532:
1531:
1529:
1528:
1523:. Austlii.edu.au
1517:
1511:
1510:
1508:
1507:
1492:
1486:
1485:
1469:
1463:
1462:
1460:
1459:
1444:
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1420:
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1339:
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1298:
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1247:
1229:
1223:
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1204:
1198:
1197:
1179:
1173:
1172:
1165:
1159:
1158:
1151:
1145:
1144:
1126:
1120:
1119:
1117:
1116:
1100:
1089:
1088:
1086:
1085:
1079:
1073:. Archived from
1056:
1047:
1041:
1040:
1022:
1016:
1015:
1013:
1012:
1001:
995:
994:
976:
970:
969:
967:
965:
959:Guardian Nigeria
950:
944:
943:
941:
940:
925:
919:
918:
906:
900:
899:
897:
896:
882:
876:
875:
857:
848:
847:
841:
839:
823:
817:
806:
86:to achieve that.
70:
63:
59:
56:
50:
43:improve the lead
27:
26:
19:
3600:
3599:
3595:
3594:
3593:
3591:
3590:
3589:
3575:Business models
3560:
3559:
3558:
3553:
3502:
3448:Make Money Fast
3418:Franchise fraud
3373:
3364:
3345:Spoofing attack
3328:Scammer Payback
3176:countermeasures
3175:
3166:
2857:Bait-and-switch
2824:
2818:
2782:
2779:
2735:
2714:
2713:
2704:
2702:
2693:
2692:
2688:
2679:
2677:
2669:
2668:
2664:
2655:
2653:
2652:. 21 April 2020
2644:
2643:
2639:
2630:
2628:
2620:
2619:
2615:
2606:
2604:
2596:
2595:
2591:
2582:
2580:
2571:
2570:
2566:
2557:
2555:
2543:
2539:
2529:
2525:
2513:
2509:
2504:Bank of Lesotho
2501:Wayback Machine
2492:
2488:
2483:Bank of Namibia
2480:Wayback Machine
2471:
2467:
2459:Wayback Machine
2450:
2446:
2433:
2432:
2428:
2419:
2417:
2407:
2403:
2398:. Nov 13, 2008.
2388:
2387:
2383:
2374:
2372:
2367:
2366:
2362:
2354:Wayback Machine
2345:
2341:
2332:
2330:
2321:
2320:
2316:
2306:
2302:
2293:
2291:
2283:
2282:
2278:
2269:
2267:
2253:
2252:
2248:
2236:
2232:
2223:
2221:
2216:
2215:
2211:
2202:
2200:
2195:
2194:
2190:
2184:Wayback Machine
2175:
2171:
2163:
2159:
2151:
2147:
2138:
2134:
2128:Wayback Machine
2119:
2115:
2106:
2104:
2096:
2095:
2091:
2083:Wayback Machine
2074:
2070:
2061:
2060:
2056:
2048:
2044:
2035:
2033:
2028:
2027:
2023:
2015:Pyramid Schemes
2013:
2009:
2000:
1998:
1989:
1988:
1984:
1968:
1967:
1962:
1955:
1949:
1945:
1939:Wayback Machine
1930:
1926:
1913:
1912:
1908:
1899:
1897:
1892:
1891:
1887:
1877:
1875:
1860:
1856:
1847:
1845:
1842:Finansialku.com
1836:
1835:
1831:
1822:
1820:
1811:
1810:
1806:
1796:
1794:
1790:
1779:
1775:
1774:
1770:
1762:
1758:
1750:10.1.1.129.8742
1742:
1741:
1737:
1728:
1723:
1719:
1710:
1708:
1703:
1702:
1698:
1689:
1687:
1683:
1676:
1672:
1671:
1667:
1658:
1656:
1647:
1646:
1642:
1633:
1631:
1622:
1621:
1617:
1607:
1605:
1594:"Pyramid scams"
1592:
1591:
1587:
1578:
1576:
1565:
1564:
1560:
1551:
1549:
1540:
1539:
1535:
1526:
1524:
1519:
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1514:
1505:
1503:
1494:
1493:
1489:
1470:
1466:
1457:
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1445:
1441:
1432:
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1422:
1421:
1417:
1410:
1396:
1392:
1385:
1363:
1359:
1352:
1330:
1326:
1313:
1311:
1306:
1305:
1301:
1294:
1280:
1276:
1269:
1255:
1251:
1244:
1230:
1226:
1219:
1205:
1201:
1194:
1180:
1176:
1171:. 14 July 2016.
1167:
1166:
1162:
1157:. 18 July 2013.
1153:
1152:
1148:
1141:
1127:
1123:
1114:
1112:
1101:
1092:
1083:
1081:
1077:
1054:
1048:
1044:
1037:
1023:
1019:
1010:
1008:
1003:
1002:
998:
977:
973:
963:
961:
951:
947:
938:
936:
926:
922:
907:
903:
894:
892:
884:
883:
879:
872:
858:
851:
837:
835:
832:consumer.sd.gov
824:
820:
807:
803:
798:
793:
789:The Cobra Group
759:Make Money Fast
719:
669:Bank of Namibia
599:In early 2006,
568:
344:
307:
291:
270:
264:
246:Franchise fraud
243:
241:Franchise fraud
219:
150:
124:
71:
60:
54:
51:
40:
28:
24:
17:
12:
11:
5:
3598:
3588:
3587:
3582:
3577:
3572:
3555:
3554:
3552:
3551:
3546:
3545:
3544:
3539:
3531:
3526:
3521:
3516:
3510:
3508:
3504:
3503:
3501:
3500:
3495:
3490:
3485:
3480:
3475:
3470:
3465:
3460:
3455:
3450:
3445:
3440:
3435:
3430:
3425:
3420:
3415:
3410:
3405:
3400:
3395:
3390:
3385:
3379:
3377:
3366:
3365:
3363:
3362:
3357:
3355:Voice phishing
3352:
3347:
3342:
3337:
3332:
3331:
3330:
3325:
3320:
3315:
3305:
3300:
3295:
3290:
3285:
3280:
3275:
3270:
3265:
3260:
3255:
3250:
3245:
3240:
3235:
3230:
3225:
3220:
3215:
3210:
3205:
3200:
3195:
3190:
3188:Pig Butchering
3185:
3179:
3177:
3172:Internet scams
3168:
3167:
3165:
3164:
3159:
3154:
3149:
3144:
3139:
3134:
3129:
3124:
3119:
3114:
3109:
3104:
3099:
3094:
3089:
3084:
3079:
3077:Sick baby hoax
3074:
3069:
3064:
3059:
3057:Reloading scam
3054:
3049:
3044:
3039:
3034:
3029:
3024:
3019:
3014:
3009:
3004:
2999:
2994:
2992:Locksmith scam
2989:
2984:
2979:
2974:
2969:
2964:
2959:
2954:
2949:
2944:
2939:
2934:
2929:
2924:
2919:
2914:
2909:
2904:
2899:
2894:
2889:
2884:
2879:
2874:
2869:
2864:
2859:
2854:
2849:
2844:
2839:
2834:
2828:
2826:
2820:
2819:
2817:
2816:
2811:
2806:
2801:
2796:
2790:
2788:
2784:
2783:
2778:
2777:
2770:
2763:
2755:
2749:
2748:
2734:
2733:External links
2731:
2730:
2729:
2712:
2711:
2686:
2662:
2637:
2613:
2589:
2564:
2537:
2523:
2507:
2486:
2465:
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2401:
2381:
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2357:Irish Examiner
2339:
2314:
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2113:
2089:
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2054:
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2007:
1982:
1943:
1932:無限連鎖講の防止に関する法律
1924:
1906:
1885:
1854:
1829:
1804:
1768:
1756:
1735:
1717:
1696:
1665:
1640:
1615:
1585:
1572:The Daily Star
1558:
1533:
1512:
1487:
1464:
1454:. 8 April 2014
1439:
1415:
1408:
1390:
1383:
1357:
1350:
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1274:
1267:
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1242:
1224:
1217:
1199:
1192:
1174:
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1146:
1139:
1121:
1090:
1065:(2): 188–210.
1042:
1035:
1017:
996:
971:
945:
920:
901:
877:
870:
849:
818:
809:pyramid scheme
800:
799:
797:
794:
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791:
786:
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776:
771:
766:
761:
756:
751:
746:
744:Elite Activity
741:
739:Cryptocurrency
736:
731:
726:
720:
718:
715:
567:
564:
556:United Kingdom
343:
340:
306:
303:
290:
287:
266:Main article:
263:
262:Matrix schemes
260:
242:
239:
218:
215:
149:
146:
123:
120:
96:business model
92:pyramid scheme
73:
72:
32:The article's
31:
29:
22:
15:
9:
6:
4:
3:
2:
3597:
3586:
3583:
3581:
3578:
3576:
3573:
3571:
3568:
3567:
3565:
3550:
3549:Ponzi schemes
3547:
3543:
3540:
3538:
3535:
3534:
3533:In the media
3532:
3530:
3527:
3525:
3522:
3520:
3517:
3515:
3512:
3511:
3509:
3505:
3499:
3496:
3494:
3491:
3489:
3486:
3484:
3483:Secret Sister
3481:
3479:
3476:
3474:
3471:
3469:
3466:
3464:
3461:
3459:
3456:
3454:
3453:Matrix scheme
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3375:Ponzi schemes
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3283:Ripoff Report
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3082:SIM swap scam
3080:
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3055:
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3047:Pump and dump
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3032:Pig in a poke
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2887:Charity fraud
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2867:Blessing scam
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1997:on 2013-06-19
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754:Holiday Magic
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576:Ponzi schemes
573:
566:Notable cases
563:
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560:United States
557:
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295:Ponzi schemes
286:
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274:
269:
268:Matrix scheme
258:
253:
251:
247:
238:
236:
232:
231:Blessing Loom
223:
217:Blessing Loom
214:
210:
208:
202:
194:
190:
186:
182:
181:and "lotus".
179:
175:
174:Airplane Game
170:
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119:
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101:
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69:
66:
58:
48:
45:and read the
44:
38:
35:
30:
21:
20:
3473:Reed Slatkin
3438:Kubus scheme
3369:
3318:Jim Browning
3313:419eater.com
3308:Scam baiting
3293:Romance scam
3263:Lottery scam
3208:Clickjacking
3152:Wash trading
3147:Trojan horse
3062:Return fraud
3012:Mock auction
2907:Drop swindle
2872:Bogus escrow
2717:
2703:. Retrieved
2698:
2689:
2678:. Retrieved
2674:
2665:
2654:. Retrieved
2649:
2640:
2629:. Retrieved
2626:Bangkok Post
2625:
2616:
2605:. Retrieved
2601:
2592:
2581:. Retrieved
2576:
2567:
2556:. Retrieved
2550:
2540:
2533:
2526:
2517:
2510:
2503:
2489:
2482:
2468:
2461:
2447:
2438:
2429:
2418:. Retrieved
2414:
2404:
2394:. Colombia:
2390:
2384:
2373:. Retrieved
2363:
2356:
2342:
2331:. Retrieved
2326:
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2310:
2303:
2292:. Retrieved
2288:
2279:
2268:. Retrieved
2260:Action Fraud
2258:
2249:
2233:
2222:. Retrieved
2212:
2201:. Retrieved
2191:
2172:
2160:
2148:
2143:), section 3
2135:
2116:
2105:. Retrieved
2101:
2092:
2085:
2071:
2057:
2045:
2034:. Retrieved
2032:. Lovdata.no
2030:"Lovdata.no"
2024:
2017:
2010:
1999:. Retrieved
1995:the original
1985:
1946:
1927:
1918:
1915:"L 173/2005"
1909:
1898:. Retrieved
1888:
1876:. Retrieved
1872:the original
1867:
1857:
1846:. Retrieved
1841:
1832:
1821:. Retrieved
1819:. 2015-01-02
1816:
1807:
1795:. Retrieved
1783:
1771:
1759:
1738:
1720:
1709:. Retrieved
1699:
1688:. Retrieved
1681:the original
1668:
1657:. Retrieved
1652:
1643:
1632:. Retrieved
1628:the original
1618:
1606:. Retrieved
1602:the original
1597:
1588:
1577:. Retrieved
1575:. 2013-09-06
1570:
1561:
1550:. Retrieved
1546:the original
1536:
1525:. Retrieved
1515:
1504:. Retrieved
1500:the original
1490:
1481:
1477:
1467:
1456:. Retrieved
1451:
1442:
1431:. Retrieved
1427:
1418:
1399:
1393:
1368:
1360:
1335:
1327:
1318:
1312:. Retrieved
1302:
1283:
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1258:
1252:
1233:
1227:
1208:
1202:
1183:
1177:
1163:
1149:
1130:
1124:
1113:. Retrieved
1109:the original
1082:. Retrieved
1075:the original
1062:
1058:
1045:
1026:
1020:
1009:. Retrieved
999:
984:
974:
962:. Retrieved
958:
948:
937:. Retrieved
933:
923:
914:
904:
893:. Retrieved
889:
880:
861:
843:
838:February 18,
836:. Retrieved
831:
821:
812:
804:
779:Ponzi scheme
704:
700:
688:
677:
662:
658:
653:
646:
644:
621:
598:
592:
580:
569:
508:South Africa
345:
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125:
113:
91:
89:
61:
52:
41:Please help
36:
34:lead section
3514:Con artists
3398:Dona Branca
3340:Spoofed URL
3248:Email fraud
3228:CyberThrill
3203:Click fraud
3117:Tarmac scam
3042:Pork barrel
3037:Pigeon drop
3027:Patent safe
3017:Moving scam
2927:Fiddle game
2877:Boiler room
2852:Badger game
2814:Sucker list
2787:Terminology
2327:Yle Uutiset
2050:NYtimes.com
1797:13 February
1608:November 2,
532:Switzerland
484:Philippines
468:New Zealand
464:Netherlands
3564:Categories
3542:Literature
3403:Earl Jones
3335:ShadowCrew
3288:Rock Phish
3233:DarkMarket
3223:Cybercrime
3198:Catfishing
3072:Shell game
3007:Mismarking
2932:Fine print
2892:Clip joint
2882:Bride scam
2705:2020-07-07
2680:2020-07-07
2656:2020-08-08
2631:2020-08-08
2607:2016-12-22
2583:2016-12-22
2558:2014-06-19
2420:2018-07-04
2375:2013-04-02
2333:2018-07-04
2294:2018-07-04
2270:2016-07-05
2224:2013-04-02
2203:2023-10-03
2107:2020-12-20
2036:2013-04-02
2001:2013-04-02
1900:2015-06-12
1848:2019-10-28
1823:2020-12-20
1711:2010-10-11
1690:2011-02-23
1659:2010-04-12
1634:2019-01-23
1579:2020-06-14
1552:2014-10-09
1527:2013-04-02
1506:2012-04-08
1458:2019-08-20
1433:2019-03-29
1314:2018-06-20
1115:2016-03-25
1084:2016-03-26
1011:2013-04-02
939:2013-04-02
895:2019-04-18
796:References
729:BurnLounge
713:and Zoom.
679:BurnLounge
671:, and the
558:, and the
368:Bangladesh
3529:Impostors
3183:Avalanche
2997:Long firm
2917:Exit scam
2439:bbc.co.uk
2415:Kyiv Post
1745:CiteSeerX
1320:business.
1007:. Fbi.gov
711:Instagram
654:Kyiv Post
648:Kyiv Post
594:WinCapita
524:Sri Lanka
512:Singapore
428:Indonesia
412:Hong Kong
352:Australia
207:investors
55:July 2024
3303:SaferNet
3273:Phishing
3213:Cramming
3102:SSC Scam
2967:Hustling
2952:Gem scam
2650:cbs19.tv
2497:Archived
2476:Archived
2455:Archived
2396:BBC News
2350:Archived
2180:Archived
2177:TDSA.gov
2165:lagen.nu
2124:Archived
2102:Paragraf
2079:Archived
1971:cite web
1960:Archived
1935:Archived
1788:Archived
1765:§ 5
1653:BBC News
1452:TheVerge
991:Archived
934:Guardian
717:See also
640:Colombia
540:Thailand
520:Ethiopia
492:Portugal
452:Maldives
448:Malaysia
384:Colombia
342:Legality
178:gemology
104:products
3393:Caritas
3370:Pyramid
3323:Kitboga
3193:Carding
3067:Salting
2809:Shyster
2577:FTC.gov
1428:Findlaw
986:YouTube
811:at the
707:Sou-Sou
632:Popayán
617:Germany
601:Ireland
552:Ukraine
496:Romania
436:Ireland
420:Iceland
416:Hungary
408:Germany
400:Finland
396:Estonia
388:Denmark
364:Bahrain
360:Belgium
356:Austria
348:Albania
325:scheme.
82:enough
3408:Ezubao
3268:PayPai
2724:
1747:
1406:
1381:
1348:
1290:
1265:
1240:
1215:
1190:
1137:
1033:
868:
667:, the
628:Tumaco
613:Munich
609:Galway
554:, the
548:Turkey
536:Taiwan
528:Sweden
504:Serbia
500:Russia
488:Poland
482:, the
472:Norway
462:, the
456:Mexico
450:, the
404:France
390:, the
376:Canada
372:Brazil
3507:Lists
2804:Shill
1963:(PDF)
1956:(PDF)
1878:3 May
1791:(PDF)
1780:(PDF)
1684:(PDF)
1677:(PDF)
1078:(PDF)
1055:(PDF)
964:3 May
624:Pasto
516:Spain
460:Nepal
444:Japan
440:Italy
424:India
380:China
309:Some
279:shill
142:scams
109:fraud
94:is a
2794:Scam
2722:ISBN
1977:link
1880:2022
1799:2022
1610:2018
1404:ISBN
1379:ISBN
1346:ISBN
1288:ISBN
1263:ISBN
1238:ISBN
1213:ISBN
1188:ISBN
1135:ISBN
1031:ISBN
966:2022
866:ISBN
840:2024
774:Qnet
749:Gift
645:The
634:and
607:and
605:Cork
570:The
480:Peru
476:Oman
432:Iran
235:Loom
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
