stewgreenUK
Student
- Joined
- Apr 22, 2013
- Messages
- 45
Hi, Here in the island of Madeira about 15-20% of the population have neen taken in by a pyramid scam called Telexfree.
- One minute after someone showed me I said "look you can you see it's too good to be true, it seems to me it's just like the pyramid scam in Albania"
..but there is some strange psychology going on as if people are brainwashed and in a cult
1. They accept the first answer they get from the organisers e.g. "No it's not a pyramid it's MLM andthe products are our VOIP service and selling internet advertising"
but that does not bear any second questioning, people only buy the VOIP cos it's a requirement to get into the money making scheme, no one actually uses it..even in their own conferences Telexfree people just use Skype.
2. since internet advertising costs nothing it's obviosly just a fake job. But it does bring up an interesting distraction in that when you search in Portuguese all you get is propaganda cos of all the advert pages the participants have created ..However the Wikipedia page is legit ..and it clearly explains it's a scam.
3. The third interesting bit is that it is extremely slow burn, the people at the top aren't creaming off too much so they are able to keep it going.
- And that's the thing people can see their neighbours are making money. My friend told me I put in $15,000 now after 1 year I have $50,000.
- The people don't see themselves are losing. They put in then the rule is that they have to wait 3 months before they can make profits. So that first money is what the organisers use to pay the people further upthe pyramid. Then by keeping the hype going, by the time the 3 months are up enough new people have come into the scheme they are able to pay the people who joined 3 months ago. (of course when it stops that last 3 months batch of people won't get their money and will knock on the doors of their friends who introduced them and have profited)
- It was banned in Brazil more than 1 year ago
- It's run out of a PO box office in Massachutsetts and US MA, "Secretary of State William Galvin's office is investigating a Marlborough-based telephone marketing company that has already been banned in Brazil for running a pyramid scheme." ..and they linked the investigation to another scheme WCM777 they already closed down.
.. now the scheme is floundering and has drastically cut profits paid out and formally announced you can't profit unlçess you bring new members.
It won't be long it falls ..I think it's a fascinating story for journalists like Jon Ronson.
more on my web http://stewgreen.com/irrational_world/rational97telexfree_pyramid.htm
and here http://stewgreen.com/irrational_world/rational97telexfree_pyramidb.htm
- One minute after someone showed me I said "look you can you see it's too good to be true, it seems to me it's just like the pyramid scam in Albania"
..but there is some strange psychology going on as if people are brainwashed and in a cult
1. They accept the first answer they get from the organisers e.g. "No it's not a pyramid it's MLM andthe products are our VOIP service and selling internet advertising"
but that does not bear any second questioning, people only buy the VOIP cos it's a requirement to get into the money making scheme, no one actually uses it..even in their own conferences Telexfree people just use Skype.
2. since internet advertising costs nothing it's obviosly just a fake job. But it does bring up an interesting distraction in that when you search in Portuguese all you get is propaganda cos of all the advert pages the participants have created ..However the Wikipedia page is legit ..and it clearly explains it's a scam.
3. The third interesting bit is that it is extremely slow burn, the people at the top aren't creaming off too much so they are able to keep it going.
- And that's the thing people can see their neighbours are making money. My friend told me I put in $15,000 now after 1 year I have $50,000.
- The people don't see themselves are losing. They put in then the rule is that they have to wait 3 months before they can make profits. So that first money is what the organisers use to pay the people further upthe pyramid. Then by keeping the hype going, by the time the 3 months are up enough new people have come into the scheme they are able to pay the people who joined 3 months ago. (of course when it stops that last 3 months batch of people won't get their money and will knock on the doors of their friends who introduced them and have profited)
- It was banned in Brazil more than 1 year ago
- It's run out of a PO box office in Massachutsetts and US MA, "Secretary of State William Galvin's office is investigating a Marlborough-based telephone marketing company that has already been banned in Brazil for running a pyramid scheme." ..and they linked the investigation to another scheme WCM777 they already closed down.
.. now the scheme is floundering and has drastically cut profits paid out and formally announced you can't profit unlçess you bring new members.
It won't be long it falls ..I think it's a fascinating story for journalists like Jon Ronson.
more on my web http://stewgreen.com/irrational_world/rational97telexfree_pyramid.htm
and here http://stewgreen.com/irrational_world/rational97telexfree_pyramidb.htm
I remember something like this in the US when I was visiting.
