Technology8 mins ago
Fools And Their Money, Etc.
http://
Amazing story from the BBC website. There have been many of these ridiculous pyramid schemes in Britain over the years, but people never seem to learn. Over 10 years ago, another fraudulent scheme sprung up in South Wales, called "Women empowering Women" and exactly the same thing happened.
When I worked for BT years ago, there was another fraud going the rounds, involving household cleaning products, called Golden Chemicals, and involving an American firm called "Amway"
When will people learn that when something appears to be too good to be true, it always is ? Perhaps the answer to my own question is sheer greed.
It certainly was for one of my sisters-in-law, who lost £16,000 !
Amazing story from the BBC website. There have been many of these ridiculous pyramid schemes in Britain over the years, but people never seem to learn. Over 10 years ago, another fraudulent scheme sprung up in South Wales, called "Women empowering Women" and exactly the same thing happened.
When I worked for BT years ago, there was another fraud going the rounds, involving household cleaning products, called Golden Chemicals, and involving an American firm called "Amway"
When will people learn that when something appears to be too good to be true, it always is ? Perhaps the answer to my own question is sheer greed.
It certainly was for one of my sisters-in-law, who lost £16,000 !
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Whenever I see details of scams of all sorts I do wonder how people are so gullible.
There was a news article the other day of how a number of women had lost thousands of pounds to con artists who they met on dating sites.
Men, who they have been chatting to but have never met, tell them they are trapped abroad and need money to get out the country (to pay a tax bill or something), and say when they get out the country they can bring cash / gold with them and pay the women back. Of course they never do.
Also saw a TV program the other day about people who are approaching retirement age where the man on the phones offers to take their pension, do something to it, and increase it by 20%.
Of course they take the money and are never seen again.
NEVER trust anyone who phones you up out the blue.
NEVER trust anyone who offers to make you loads of money if you give them your cash.
NEVER trust anyone who t on the internet and then says they need money for some weird reason or other.
They are all con artists.
There was a news article the other day of how a number of women had lost thousands of pounds to con artists who they met on dating sites.
Men, who they have been chatting to but have never met, tell them they are trapped abroad and need money to get out the country (to pay a tax bill or something), and say when they get out the country they can bring cash / gold with them and pay the women back. Of course they never do.
Also saw a TV program the other day about people who are approaching retirement age where the man on the phones offers to take their pension, do something to it, and increase it by 20%.
Of course they take the money and are never seen again.
NEVER trust anyone who phones you up out the blue.
NEVER trust anyone who offers to make you loads of money if you give them your cash.
NEVER trust anyone who t on the internet and then says they need money for some weird reason or other.
They are all con artists.
VHG...the voice of common sense, of course but if you and I can see it, why can't others ?
I pleaded with my sister-in-law not to get involved in the Daft Women empowering Daft Women scheme in the years ago, but to no avail. It was blindingly obvious to me that there was a fraud taking place. She isn't the brightest firework in the box, having left school at the age of 14 to have her first illegitimate child, but the wisdom of Solomon wasn't needed in her case...just simple common sense would have done.
I pleaded with my sister-in-law not to get involved in the Daft Women empowering Daft Women scheme in the years ago, but to no avail. It was blindingly obvious to me that there was a fraud taking place. She isn't the brightest firework in the box, having left school at the age of 14 to have her first illegitimate child, but the wisdom of Solomon wasn't needed in her case...just simple common sense would have done.
There's a saying. " There's no such thing as a free lunch". I'm rubbish at Maths but even I could have worked this one out. By the way the women who ran this scheme said it wasn't the same as a Pyramid scheme because you had to answer a General Knowledge question to join. For example "who lives at number 10 Downing Street" or "name a pice of cutlery" and if you need help with the answer you can ask. doooh!
That Women Empowering Women scheme was doing the rounds in the West Midlands in the late 1990s. Such schemes were to be banned in 2001.
http://
Amway is still going strong - don't ask me how. https:/
I have always said you can't con an honest man but I think I've been a bit harsh when I read about the confused elderly being conned by forceful salesmen. On the whole, though, I think there has to be an element of greed to get involved with pyramid selling.
http://
Amway is still going strong - don't ask me how. https:/
I have always said you can't con an honest man but I think I've been a bit harsh when I read about the confused elderly being conned by forceful salesmen. On the whole, though, I think there has to be an element of greed to get involved with pyramid selling.
Ah as Gordon Ghekko said, "a fool and his money were lucky to be together in the first place" - these schemes expliot the most common of human weaknesses, the desire to make money and do sod all for it!. These schemes pander to those desires. Brains go out of the window early on. It's why gambling is so popular, easy money for no work! right? people will never learn, they are still getting caught in the Nigerian 419 scam. A recent post on this site higlighted someone getting caught in the foriegn cheque scam.
If you read the article it says:
"Those running the scheme told its investors it had a quick, easy and legal way to make cash - by paying in £3,000 they would receive more than £20,000, as more members joined"
Do people really think that £3,000 is going to magically turn into £20,000.
Greed, Greed, Greed.
"Those running the scheme told its investors it had a quick, easy and legal way to make cash - by paying in £3,000 they would receive more than £20,000, as more members joined"
Do people really think that £3,000 is going to magically turn into £20,000.
Greed, Greed, Greed.
It is easy for those of us with the nous to see beyond the foolishness of both the scheme, and the people involved in losing their money - but we should be charitable.
Some people are desparate for money, and combined with a lack of the ability to look into the basics of a scheme which clearly does absolutely nothing to generate money, will fall in and pay up.
I am glad to be able to see things like this coming, but it does not stop me having sympathy for those who do not.
These people have lost four figures - our sympathy is free.
Some people are desparate for money, and combined with a lack of the ability to look into the basics of a scheme which clearly does absolutely nothing to generate money, will fall in and pay up.
I am glad to be able to see things like this coming, but it does not stop me having sympathy for those who do not.
These people have lost four figures - our sympathy is free.
Andy, I have no sympathy for anyone who thinks riches beyond believe is real.
People often push thousands into these schemes, I wold suggest therefore that most are not 'desparate' for money. Gambling is of course another story if that is what you are aiming at..
As Mickey says, if it appears to be too good .........
People often push thousands into these schemes, I wold suggest therefore that most are not 'desparate' for money. Gambling is of course another story if that is what you are aiming at..
As Mickey says, if it appears to be too good .........
The point that I would like to make again is this. These types of schemes can't possibly work and to realise that, you don't have to have a university degree. Just plain common sense. This isn't even a sophisticated fraud, such as we have on the internet these days. In my experience, they always attract the same people...the thick and the greedy.
To be honest though Mikey I hardly see these pyramid schemes as a fraud simply because they are so basic. I think if they had a disclaimer that went ' if your lucky you'll get 30k but if it collapses before you do you lose all your money I would be perfectly fine with that. It's only a form of gambling really, just one you have slightly more control over.
My view, for what its worth, is that anybody who gets sucked into anything that promises a quick buck, or people who get conned out of money with the promise of 'love' from a wealthy Nigerian (for a woman) or a Russian bride (for a bloke), frankly, deserve to lose their money.
I have no sympathy.
None.
The abdication of all common sense with these people just atonishes me.
I have no sympathy.
None.
The abdication of all common sense with these people just atonishes me.
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