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A pyramid scheme is a ... totaling 12,265 to 12,267 years to 22 people convicted over the scheme, which conned about 120,000 people out of more than 20 billion baht ...
This organization, established in 1972, once had a million members. It was a cause of the enactment of Japan's law prohibiting pyramid schemes. In 1986, the Dai-ichi Sōgo Keizai Kenkyūsho declared bankruptcy, leaving debts amounting to 189,600,000,000 yen. [32] It has been called "the biggest pyramid scheme in history." [33]
NXIVM founder Keith Raniere. Before founding NXIVM, Raniere created Consumers Buyline, a business venture that the New York Attorney General accused of having been a pyramid scheme; Raniere signed a consent order in 1996 in which he denied any wrongdoing but agreed to pay a $40,000 fine and to be permanently banned from "promoting, offering or granting participation in a chain distribution ...
The "Captain" (blue) is paid when 8 "passengers" have arrived at the bottom of the pyramid. (Below the Captain are two "Co-Pilots", below them four "Crew".) The airplane game , also known as the plane game , is a style of pyramid scheme first recorded in the 1980s in North America and later Western Europe.
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14 years in U.S. federal prison Reed Eliot Slatkin (January 22, 1949 – June 23, 2015) was an initial investor and co-founder of EarthLink [ 2 ] [ 3 ] and the perpetrator of one of the largest Ponzi schemes in the history of the United States .
International Heritage Inc. (IHI) was an American pyramid scheme and MLM company. The company was founded in 1995 by Stanley H. Van Etten, Larry G. Smith and Claude William Savage, and started with marketing and sales of luxury items such as jewelry and golf equipment. In reality, the products were almost exclusively traded by the company's own ...
He was brought back to California, and in 2006 was convicted and sentenced to 30 years in prison by a federal judge. [8] Lewis was 60 years old. U.S. District Judge Cormac Carney also ordered him to pay $156 million in restitution. In imposing the statutory maximum of 30 years, Judge Carney described the scheme as a "crime against humanity ...