If you knew about a pyramid scheme would you report it?

[OS]

There's this pyramid scheme floating around at my school, and I think a fair amount of people are getting sucked in. Their website is here
linky


They operate with the front that they are an internet biz, but they are really a pyramid scheme underneath. Basically, each member has to recruit two people, each of which foots like 500 bucks to the guy on top and a certain percentage of the money they get from the additional people below them when they come in. This one guy tried to suck me in but of course I'm like no. But now I gotta wonder if I can just sit idly by and watch fellow students get jacked. What do you think?

 

[GL]

The cops know about this. A similar pyramid scheme floated around my school with certain people falling for it. Of course, I was the stupid one for not joining despite the fact I'm the only one who didn't lose money. I checked out the RCMP website and they had already discovered the scheme. It was based out of Italy (all transactions occured on the Italy side somehow) and there was nothing the RCMP could do because it was technically legal although people were almost certain to lose money.

So basically, don't sweat it. I'm sure the American authorities are well aware of this already.

-GL

 

[The Stigenator]

yeah I know its a pirmaid scheme. I went to their "meeting" with a cute girl, all because I wanted to be with her. But I didnt join in. I ran a investigation of what they do and found their so called ISP and hosting is bogus.... not body hosts with them. The racks are all empty.

I told the girl I didnt want to join (all knowing the day I went to the meeting that it was a priamid scheme). Anyway the person on the stage goes "This is NOT a priamid scheme". Yeah right.. it sure looks like one.

Sure I have seen people with cars saying "2by2.net" painted all over them running around, but the fact of the matter is that I would never fall for it.

One of my co-workers did join them, but it was too late since she already joined..
You can make money if you can sucker other people into the game. The amound you can make with ecommerce (an email account and a refer page that they sell you) is hardly anything because they pay you only 2% or 1% of the total earned. All the money comes from brining in new people.


Now as for letting authorities know, where do I sign up.. I want to let the authorities know.. Do I tell my local PD?

 

[mundania]

Still... couldn't hurt to report it.

 

[OS]

Normally I'm like whatever I don't care, but it does not sit well with me to stand idly by and watch people I know get burnt by this sort of thing.

I think I'll probably just warn them about it for now.

 

[bleuiko]

Yeah... beware of 2by2.net, it is starting up around here @ UCSD too... MLM = BAD

 

[Maetryx]

Maetryx here,

I believe that pyramid (aka Ponzii) schemes could be reported to the Federal Trade Commission (FTC), the FBI, the U.S. Post Office, and the Better Business Bureau (BBB). If you pick the wrong one, you may be able to talk to someone that *does* know the right one.

 

[ChrisIsBored]

Geesh I was tricked into going to one of those meetings a few weeks ago. I thought I was being called for an actual job, the lady wouldn't tell me much about it on the phone, and wanted to come in for a meetings in the evening.. well.. like an idiot I sat through it. I was just laughing to myself about all these people actually falling for it.

Got me kinda mad that I actually sat there wasting my time...