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653:, 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."
312:, 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.
720:, 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
89:
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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.
164:
187:" 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
36:
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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
630:, 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.
248:" 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.
92:
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
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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
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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
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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
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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
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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
267:
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
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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
596:(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
1970:
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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 "
2001:
686:. 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
1484:
220:. 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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1875:"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.
622:. 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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324:(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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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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589:; however, they were widely referred to as pyramid schemes due to their prevalence in Albanian society.
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1347:
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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2197:, 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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1754:"Door to Door Selling – Pyramid Selling – Multilevel Marketing". November 1999. p. 130.
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1063:"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.
2249:
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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1788:"Act C of 2012 on the Criminal Code – Section 412: Organising a pyramid scheme"
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2178:– Tillkännagivande (2008:487) med anledning av marknadsföringslagen (2008:486)
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1532:"Competition and Consumer Act 2010 – Schedule 2, Division 3 – Pyramid schemes"
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689:
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17:
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2002:"Sentence by the High Council of the Netherlands regarding a pyramid scheme"
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438:
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The "eight-ball" model contains a total of fifteen members. Note that in an
2187:
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1 + 2 + 3 + 4 + 5 = 15. The pyramid scheme in the picture in contrast is a
163:
2750:
2739:) by Eamon Dillon, published September 2008 by Merlin Publishing, Ireland.
2074:"First penalty imposed for soliciting into so-called pyramid-type schemes"
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1718:[The Consumer Protection Law of Estonia] (in Estonian). §12(8) #14
3313:
3283:
3112:
2977:
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2422:"Caught! American arrested in Kyiv on suspicion of fraud – Nov. 26, 2008"
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2164:
Pyramid Schemes Illegal Under Section 83c of the Banking Act of Sri Lanka
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502:
462:
458:
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217:
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2584:"Vemma Agrees to Ban on Pyramid Scheme Practices to Settle FTC Charges"
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also reports that some estimates are as high as US$ 150 million.)
627:
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2334:"SS: Some WinCapita Ponzi scheme victims to soon receive compensation"
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2446:"Prosecuting members of a £21m pyramid scheme cost taxpayers £1.4m"
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Pyramid schemes are illegal in many countries or regions including
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289:
231:
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2150:
Multi-Level Marketing and Pyramid Selling (Prohibition) Act (
2076:. Office of Competition and Consumer Protection. 22 January 2021.
1741:"Rahankeräyslaki 255/2006 – Ajantasainen lainsäädäntö – FINLEX ®"
2804:
2063:, "Investors in Philippine Pyramid Scheme Lose over $ 2 Billion"
1685:"Proyecto De Ley Que Prohíbe La Venta Bajo El Esquema Piramidal"
1509:. Australian Competition and Consumer Commission. Archived from
920:
Commission, Australian Competition and Consumer (May 14, 2015).
784:
759:
490:
486:
442:
245:
2765:
2657:"BE AWARE: 'Blessing Loom' scam is resurfacing on social media"
1873:
IRB – Immigration and Refugee Board of Canada (24 March 2010).
700:
In August 2015, the United States FTC filed a lawsuit against
633:
On 12 November 2008, riots broke out in the municipalities of
29:
207:
At ten levels deep, the "airplane game" has an 87% loss rate.
2175:
964:
Okwe Mathias, Abuja; Merlyn Mathews, Lagos (21 May 2019).
304:
While often confused with each other, pyramid schemes and
1964:"Direct Sales and Anti-Pyramid Scheme Act 1993 (Act 500)"
349:
regulators to maintain the legal status of such schemes.
2706:"'Blessing looms' pyramid scheme sweeps across Houston"
941:"Pyramid selling scam that preys on women to be banned"
745:
Claims of Social Security in the US as a pyramid scheme
53:
1774:
Pyramid Schemes Prohibition Ordinance (Cap. 617)
601:
affiliates material that allowed them to scam others.
1038:
Ponzi's scheme – the true story of a financial legend
183:
Prior instances of this scheme have been called the "
614:
was hit by a wave of schemes with major activity in
3517:
3379:
3181:
2833:
2797:
1109:
1107:
1105:
1411:Encyclopedia of White-Collar & Corporate Crime
2633:"Ufun fraudsters sentenced to thousands of years"
2609:"Vemma reaches $ 238 million settlement with FTC"
2358:Gardaí hold firearm after pyramid scheme incident
1553:"Piramideverkoop - Geschillen en klachten - Home"
2729:The Fraudsters: How Con Artists Steal Your Money
1907:. Competition and Consumer Protection Commission
1485:"The Rise and Fall of Albania's Pyramid Schemes"
1380:Expert Fraud Investigation: A Step-by-Step Guide
1297:. Cengage Learning Business Press. p. 278.
845:. Office of the Attorney General of South Dakota
676:Australian Competition & Consumer Commission
1797:. Ministry of Justice of Hungary. p. 138.
1272:. Cengage Learning Business Press. p. 36.
129:plans have been classified as pyramid schemes.
109:which, rather than earning money (or providing
2473:Australian Competition and Consumer Commission
1879:European Country of Origin Information Network
1849:"Skema Piramida Dilarang, Nasabah Terlindungi"
1635:"Regulation on Prohibition of Pyramid Selling"
1459:"How lobbying dollars prop up pyramid schemes"
1061:Keep, William W; Vander Nat, Peter J. (2014).
926:Australian Competition and Consumer Commission
713:people out of more than 20 billion baht.
2777:
1413:. Vol. 2. Sage Publishing. p. 880.
263:as a pyramid scheme. The FBI website states:
8:
2166:Department of Government Printing, Sri Lanka
308:are different. Pyramid schemes are based on
2319:FTC Charges Internet Mall Is a Pyramid Scam
2208:"Government outlaws ponzi, pyramid schemes"
1986:: CS1 maint: numeric names: authors list (
1070:Journal of Historical Research in Marketing
1040:. New York: Random House Trade Paperbacks.
866:
864:
585:was partially motivated by the collapse of
3535:Criminal enterprises, gangs and syndicates
2784:
2770:
2762:
2109:"Zakon o trgovini | Republika SRBIJA"
1321:. Federal Trade Commission. 4 January 2018
1118:. Federal Trade Commission. Archived from
966:"SEC declares 'Loom Money' illegal outfit"
839:"Multi-Level Marketing vs Pyramid Schemes"
2558:"9th Circuit Affirms BurnLounge Judgment"
2542:Consumer Watchdog Botswana on TVI Express
2526:South African Sunday Times on TVI Express
1759:
76:Learn how and when to remove this message
1495:– via International Monetary Fund.
2229:"Saadet zinciri operasyonu: 60 gözaltı"
2004:. Zoeken.rechtspraak.nl. Archived from
1247:. Gower Publishing Company. p. 4.
812:
1979:
1245:Purchasing scams and how to avoid them
875:. Baker Publishing Group. p. 45.
2152:Cap. 190, 2000 Rev. Ed.
1804:from the original on 13 December 2021
1036:Zuckoff, Mitchell (10 January 2006).
992:"Police warn of 'blessing loom' scam"
240:Similar to the eight ball model, the
7:
3434:High-yield investment program (HYIP)
27:Type of unsustainable business model
3424:Foundation for New Era Philanthropy
1824:"RBI warns against pyramid schemes"
1609:antifraudcentre-centreantifraude.ca
1409:Salinger, Lawrence M., ed. (2005).
1218:Higgs, Philip; Smith, Jane (2007).
692:, Inc. was a multi-level marketing
316:Connection to multi-level marketing
196:Empowering Women" do exactly this.
2682:"Blessing Loom Ponzi Scam: Beware"
2505:BoL warns public about TVI Express
2484:BoN warns public about TVI Express
2380:"National Consumer Agency Ireland"
2029:Commerce Commission of New Zealand
1660:"Colombia scam: 'I lost my money'"
1483:Jarvis, Christopher (March 2000).
1295:Sales & Key Account Management
25:
2731:, Chapter 9, "Pyramids of Sand" (
2402:Colombians riot over pyramid scam
2300:Finance and Development | F&D
1114:Valentine, Debra (May 13, 1998).
2749:
1976:from the original on 2022-07-15.
1611:. March 11, 2015. Archived from
1004:from the original on 2021-11-04.
259:is defined by the United States
34:
3489:Saradha Group financial scandal
2420:Rachkevych, Mark (2008-11-26).
901:Federal Bureau of Investigation
709:unsubstantiated health claims.
261:Federal Bureau of Investigation
1:
2843:1992 Indian stock market scam
2210:. tt.loopnews.com. 2022-11-16
1795:National Legislation Database
1578:"Govt bans pyramid marketing"
1343:Carroll, Robert Todd (2003).
1222:. Juta Academic. p. 30.
3118:Strip search phone call scam
2933:Extraterrestrial real estate
1690:(in Spanish). Archived from
1637:. fdi.gov.cn. Archived from
1016:"FBI — Common Fraud Schemes"
939:Tracy McVeigh (2001-08-05).
2993:Intellectual property scams
2983:Indian coal allocation scam
2792:Scams and confidence tricks
2530:Sunday Times (South Africa)
1268:Mendelsohn, Martin (2004).
1197:. Kogan Page. p. 112.
592:In 2003, the United States
3612:
3479:Pyramid schemes in Albania
3439:Investors Overseas Service
3371:Website reputation ratings
2545:Consumer Watchdog Botswana
583:1997 Albanian civil unrest
276:
3581:Pyramid and Ponzi schemes
3509:Welsh Thrasher faith scam
3454:Madoff investment scandal
2948:Foreclosure rescue scheme
2756:Pyramid and Ponzi schemes
2556:Hull, Tim (2 June 2014).
2296:"Finance and Development"
2231:. Cnnturk.com. 2010-05-14
1243:Kitching, Trevor (2001).
1082:10.1108/JHRM-01-2014-0002
871:Smith, Rodney K. (1984).
300:Relation to Ponzi schemes
3504:Stanford Financial Group
3309:Russian Business Network
3098:Slavery reparations scam
2322:Federal Trade Commission
1736:Rahankeräyslaki 255/2006
1270:The guide to franchising
1144:. Tarcher. p. 356.
594:Federal Trade Commission
329:Federal Trade Commission
133:Concept and basic models
113:) by sale of legitimate
48:may need to be rewritten
3474:Petters Group Worldwide
2563:Courthouse News Service
2097:Ziarul Ziua, 12.07.2006
1489:Finance and Development
990:ABC News (2020-04-20).
841:. Consumer Protection.
837:Website admin. (2024).
825:Encyclopædia Britannica
780:Nouveau Riche (college)
702:Vemma Nutrition Company
684:Central Bank of Lesotho
284:as doomed to collapse.
3168:White van speaker scam
3133:Technical support scam
3108:SSA impersonation scam
3063:Redemption/A4V schemes
2988:IRS impersonation scam
2953:Foreign exchange fraud
2686:OnlineThreatAlerts.com
2613:TruthInAdvertising.org
2266:"Pyramid scheme fraud"
2132:Whitecollarcrime.co.za
1376:Coenen, Tracy (2009).
1319:"Multilevel Marketing"
1180:"Multilevel Marketing"
1140:Edwards, Paul (1997).
647:Santander de Quilichao
338:
327:According to the U.S.
270:
237:
208:
176:
169:arithmetic progression
159:The "eight ball" model
111:returns on investments
98:
2968:Get-rich-quick scheme
2958:Fortune telling fraud
2276:City of London Police
1716:"Tarbijakaitseseadus"
1193:Clegg, Brian (2000).
333:
322:multi-level marketing
265:
235:
206:
173:geometric progression
166:
127:multi-level marketing
91:
3444:Kapa investment scam
3264:Internet vigilantism
3254:Email authentication
3229:Cryptocurrency scams
3123:Swampland in Florida
2758:at Wikimedia Commons
2452:. 14 September 2015.
2382:. Consumerconnect.ie
2087:Explozia piramidelor
1615:on November 13, 2018
1293:Blythe, Jim (2004).
1220:Rethinking Our World
873:Multilevel Marketing
3548:Film and television
3269:Lenny anti-scam bot
3173:Work-at-home scheme
3138:Telemarketing fraud
2998:Kansas City Shuffle
2923:Embarrassing cheque
2340:. 22 September 2016
1666:. November 18, 2008
775:Non-fungible tokens
704:, an Arizona-based
555:Trinidad and Tobago
175:1 + 2 + 4 + 8 = 15.
95:people in the world
3596:Types of marketing
3499:Scott W. Rothstein
3394:Aman Futures Group
2913:Coin rolling scams
2908:Coin-matching game
2590:. 15 December 2016
2510:2011-10-03 at the
2489:2011-10-04 at the
2468:2011-06-02 at the
2363:2008-03-23 at the
2255:(20 November 2013)
2193:2009-02-20 at the
2137:2008-12-01 at the
2092:2016-05-06 at the
1948:2009-06-27 at the
1855:. 15 February 2014
1828:The Times of India
795:Success University
735:Aman Futures Group
706:dietary supplement
694:online music store
598:goods and services
403:Dominican Republic
238:
209:
177:
144:exponential growth
99:
3591:Confidence tricks
3568:
3567:
3530:Confidence tricks
3249:Domain name scams
3148:Thai zig zag scam
3013:Miracle cars scam
2836:confidence tricks
2834:Notable scams and
2754:Media related to
2737:978-1-903582-82-4
2712:. 8 December 2016
2710:Click2Houston.com
2141:, Pyramid Schemes
1905:"Pyramid Schemes"
1507:"Pyramid schemes"
1435:"Pyramid Schemes"
1395:978-0-470-38796-2
1384:. Wiley. p.
1351:. Wiley. p.
1229:978-0-7021-7255-7
1166:"Pyramid Schemes"
1116:"Pyramid Schemes"
922:"Pyramid schemes"
897:"Pyramid Schemes"
310:network marketing
86:
85:
78:
58:lead layout guide
16:(Redirected from
3603:
3399:Bernard Cornfeld
3361:Stock Generation
3289:Referer spoofing
3153:Three-card monte
3143:Thai tailor scam
3103:Spanish Prisoner
3033:Overpayment scam
2973:Green goods scam
2873:Black money scam
2858:Art student scam
2853:Advance-fee scam
2848:2G spectrum case
2786:
2779:
2772:
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1922:
1916:
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1913:
1912:
1901:
1895:
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1890:
1885:on 24 March 2010
1881:. Archived from
1870:
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1555:. Archived from
1549:
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1534:. Austlii.edu.au
1528:
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1084:. Archived from
1067:
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1033:
1027:
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1024:
1023:
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1005:
987:
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97:to achieve that.
81:
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54:improve the lead
38:
37:
30:
21:
3611:
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3605:
3604:
3602:
3601:
3600:
3586:Business models
3571:
3570:
3569:
3564:
3513:
3459:Make Money Fast
3429:Franchise fraud
3384:
3375:
3356:Spoofing attack
3339:Scammer Payback
3187:countermeasures
3186:
3177:
2868:Bait-and-switch
2835:
2829:
2793:
2790:
2746:
2725:
2724:
2715:
2713:
2704:
2703:
2699:
2690:
2688:
2680:
2679:
2675:
2666:
2664:
2663:. 21 April 2020
2655:
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2577:
2568:
2566:
2555:
2554:
2550:
2540:
2536:
2524:
2520:
2515:Bank of Lesotho
2512:Wayback Machine
2503:
2499:
2494:Bank of Namibia
2491:Wayback Machine
2482:
2478:
2470:Wayback Machine
2461:
2457:
2444:
2443:
2439:
2430:
2428:
2419:
2418:
2414:
2409:. Nov 13, 2008.
2399:
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2365:Wayback Machine
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2139:Wayback Machine
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2094:Wayback Machine
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2081:
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2071:
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2034:
2026:Pyramid Schemes
2024:
2020:
2011:
2009:
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1995:
1978:
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1961:
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1956:
1950:Wayback Machine
1941:
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1853:Finansialku.com
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1605:"Pyramid scams"
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1192:
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1187:
1182:. 14 July 2016.
1178:
1177:
1173:
1168:. 18 July 2013.
1164:
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843:consumer.sd.gov
836:
835:
831:
818:
814:
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800:The Cobra Group
770:Make Money Fast
730:
680:Bank of Namibia
610:In early 2006,
579:
355:
318:
302:
281:
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257:Franchise fraud
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252:Franchise fraud
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3199:Pig Butchering
3196:
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3179:
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3085:
3080:
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3068:Reloading scam
3065:
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3015:
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2744:External links
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1943:無限連鎖講の防止に関する法律
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1583:The Daily Star
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1465:. 8 April 2014
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1076:(2): 188–210.
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820:pyramid scheme
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18:Pyramid Scheme
14:
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3560:Ponzi schemes
3558:
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3545:
3544:In the media
3543:
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3492:
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3464:Matrix scheme
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3386:Ponzi schemes
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3294:Ripoff Report
3292:
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3093:SIM swap scam
3091:
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3066:
3064:
3061:
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3058:Pump and dump
3056:
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3043:Pig in a poke
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2898:Charity fraud
2896:
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2879:
2878:Blessing scam
2876:
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2008:on 2013-06-19
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1697:on 2016-04-29
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1641:on 2019-01-23
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1279:1-84480-162-4
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1151:0-87477-898-0
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1122:on 2022-05-26
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1091:on 2016-04-12
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765:Holiday Magic
763:
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588:
587:Ponzi schemes
584:
577:Notable cases
576:
574:
572:
571:United States
568:
564:
560:
556:
552:
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544:
540:
536:
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315:
313:
311:
307:
306:Ponzi schemes
299:
297:
293:
291:
285:
280:
279:Matrix scheme
272:
269:
264:
262:
258:
251:
249:
247:
243:
242:Blessing Loom
234:
228:Blessing Loom
227:
225:
221:
219:
213:
205:
201:
197:
193:
192:and "lotus".
190:
186:
185:Airplane Game
181:
174:
170:
165:
158:
156:
154:
148:
145:
139:
132:
130:
128:
123:
121:
116:
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96:
90:
80:
77:
69:
59:
56:and read the
55:
49:
46:
41:
32:
31:
19:
3484:Reed Slatkin
3449:Kubus scheme
3380:
3329:Jim Browning
3324:419eater.com
3319:Scam baiting
3304:Romance scam
3274:Lottery scam
3219:Clickjacking
3163:Wash trading
3158:Trojan horse
3073:Return fraud
3023:Mock auction
2918:Drop swindle
2883:Bogus escrow
2728:
2714:. Retrieved
2709:
2700:
2689:. Retrieved
2685:
2676:
2665:. Retrieved
2660:
2651:
2640:. Retrieved
2637:Bangkok Post
2636:
2627:
2616:. Retrieved
2612:
2603:
2592:. Retrieved
2587:
2578:
2567:. Retrieved
2561:
2551:
2544:
2537:
2528:
2521:
2514:
2500:
2493:
2479:
2472:
2458:
2449:
2440:
2429:. Retrieved
2425:
2415:
2405:. Colombia:
2401:
2395:
2384:. Retrieved
2374:
2367:
2353:
2342:. Retrieved
2337:
2328:
2321:
2314:
2303:. Retrieved
2299:
2290:
2279:. Retrieved
2271:Action Fraud
2269:
2260:
2244:
2233:. Retrieved
2223:
2212:. Retrieved
2202:
2183:
2171:
2159:
2154:), section 3
2146:
2127:
2116:. Retrieved
2112:
2103:
2096:
2082:
2068:
2056:
2045:. Retrieved
2043:. Lovdata.no
2041:"Lovdata.no"
2035:
2028:
2021:
2010:. Retrieved
2006:the original
1996:
1957:
1938:
1929:
1926:"L 173/2005"
1920:
1909:. Retrieved
1899:
1887:. Retrieved
1883:the original
1878:
1868:
1857:. Retrieved
1852:
1843:
1832:. Retrieved
1830:. 2015-01-02
1827:
1818:
1806:. Retrieved
1794:
1782:
1770:
1749:
1731:
1720:. Retrieved
1710:
1699:. Retrieved
1692:the original
1679:
1668:. Retrieved
1663:
1654:
1643:. Retrieved
1639:the original
1629:
1617:. Retrieved
1613:the original
1608:
1599:
1588:. Retrieved
1586:. 2013-09-06
1581:
1572:
1561:. Retrieved
1557:the original
1547:
1536:. Retrieved
1526:
1515:. Retrieved
1511:the original
1501:
1492:
1488:
1478:
1467:. Retrieved
1462:
1453:
1442:. Retrieved
1438:
1429:
1410:
1404:
1379:
1371:
1346:
1338:
1329:
1323:. Retrieved
1313:
1294:
1288:
1269:
1263:
1244:
1238:
1219:
1213:
1194:
1188:
1174:
1160:
1141:
1135:
1124:. Retrieved
1120:the original
1093:. Retrieved
1086:the original
1073:
1069:
1056:
1037:
1031:
1020:. Retrieved
1010:
995:
985:
973:. Retrieved
969:
959:
948:. Retrieved
944:
934:
925:
915:
904:. Retrieved
900:
891:
872:
854:
849:February 18,
847:. Retrieved
842:
832:
823:
815:
790:Ponzi scheme
715:
711:
699:
688:
673:
669:
664:
657:
655:
632:
609:
603:
591:
580:
519:South Africa
356:
347:
343:
339:
334:
326:
319:
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294:
286:
282:
266:
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222:
214:
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198:
194:
182:
178:
149:
140:
136:
124:
102:
100:
72:
63:
52:Please help
47:
45:lead section
3525:Con artists
3409:Dona Branca
3351:Spoofed URL
3259:Email fraud
3239:CyberThrill
3214:Click fraud
3128:Tarmac scam
3053:Pork barrel
3048:Pigeon drop
3038:Patent safe
3028:Moving scam
2938:Fiddle game
2888:Boiler room
2863:Badger game
2825:Sucker list
2798:Terminology
2338:Yle Uutiset
2061:NYtimes.com
1808:13 February
1619:November 2,
543:Switzerland
495:Philippines
479:New Zealand
475:Netherlands
3575:Categories
3553:Literature
3414:Earl Jones
3346:ShadowCrew
3299:Rock Phish
3244:DarkMarket
3234:Cybercrime
3209:Catfishing
3083:Shell game
3018:Mismarking
2943:Fine print
2903:Clip joint
2893:Bride scam
2716:2020-07-07
2691:2020-07-07
2667:2020-08-08
2642:2020-08-08
2618:2016-12-22
2594:2016-12-22
2569:2014-06-19
2431:2018-07-04
2386:2013-04-02
2344:2018-07-04
2305:2018-07-04
2281:2016-07-05
2235:2013-04-02
2214:2023-10-03
2118:2020-12-20
2047:2013-04-02
2012:2013-04-02
1911:2015-06-12
1859:2019-10-28
1834:2020-12-20
1722:2010-10-11
1701:2011-02-23
1670:2010-04-12
1645:2019-01-23
1590:2020-06-14
1563:2014-10-09
1538:2013-04-02
1517:2012-04-08
1469:2019-08-20
1444:2019-03-29
1325:2018-06-20
1126:2016-03-25
1095:2016-03-26
1022:2013-04-02
950:2013-04-02
906:2019-04-18
807:References
740:BurnLounge
724:and Zoom.
690:BurnLounge
682:, and the
569:, and the
379:Bangladesh
3540:Impostors
3194:Avalanche
3008:Long firm
2928:Exit scam
2450:bbc.co.uk
2426:Kyiv Post
1756:CiteSeerX
1331:business.
1018:. Fbi.gov
722:Instagram
665:Kyiv Post
659:Kyiv Post
605:WinCapita
535:Sri Lanka
523:Singapore
439:Indonesia
423:Hong Kong
363:Australia
218:investors
66:July 2024
3314:SaferNet
3284:Phishing
3224:Cramming
3113:SSC Scam
2978:Hustling
2963:Gem scam
2661:cbs19.tv
2508:Archived
2487:Archived
2466:Archived
2407:BBC News
2361:Archived
2191:Archived
2188:TDSA.gov
2176:lagen.nu
2135:Archived
2113:Paragraf
2090:Archived
1982:cite web
1971:Archived
1946:Archived
1799:Archived
1776:§ 5
1664:BBC News
1463:TheVerge
1002:Archived
945:Guardian
728:See also
651:Colombia
551:Thailand
531:Ethiopia
503:Portugal
463:Maldives
459:Malaysia
395:Colombia
353:Legality
189:gemology
115:products
3404:Caritas
3381:Pyramid
3334:Kitboga
3204:Carding
3078:Salting
2820:Shyster
2588:FTC.gov
1439:Findlaw
997:YouTube
822:at the
718:Sou-Sou
643:Popayán
628:Germany
612:Ireland
563:Ukraine
507:Romania
447:Ireland
431:Iceland
427:Hungary
419:Germany
411:Finland
407:Estonia
399:Denmark
375:Bahrain
371:Belgium
367:Austria
359:Albania
336:scheme.
93:enough
3419:Ezubao
3279:PayPai
2735:
1758:
1417:
1392:
1359:
1301:
1276:
1251:
1226:
1201:
1148:
1044:
879:
678:, the
639:Tumaco
624:Munich
620:Galway
565:, the
559:Turkey
547:Taiwan
539:Sweden
515:Serbia
511:Russia
499:Poland
493:, the
483:Norway
473:, the
467:Mexico
461:, the
415:France
401:, the
387:Canada
383:Brazil
3518:Lists
2815:Shill
1974:(PDF)
1967:(PDF)
1889:3 May
1802:(PDF)
1791:(PDF)
1695:(PDF)
1688:(PDF)
1089:(PDF)
1066:(PDF)
975:3 May
635:Pasto
527:Spain
471:Nepal
455:Japan
451:Italy
435:India
391:China
320:Some
290:shill
153:scams
120:fraud
105:is a
2805:Scam
2733:ISBN
1988:link
1891:2022
1810:2022
1621:2018
1415:ISBN
1390:ISBN
1357:ISBN
1299:ISBN
1274:ISBN
1249:ISBN
1224:ISBN
1199:ISBN
1146:ISBN
1042:ISBN
977:2022
877:ISBN
851:2024
785:Qnet
760:Gift
656:The
645:and
618:and
616:Cork
581:The
491:Peru
487:Oman
443:Iran
246:Loom
3469:MMM
3383:and
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
