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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 enough people in the world to achieve that.
On March 7, 2008, WinCapita Oy's Internet site was shut down due to investigation of the company. The company had collected about 100 million euros by this point. This, the so-called biggest pyramid-scheme in Finland, was put up by Hannu Kailajärvi and his partner Tiina Wartti. They marketed the company by saying that the company is a ...
Ng faces 105 criminal charges and is currently awaiting trial. [29] [30] Sunshine Empire Ponzi 2006-2007 James Phang Wah, (conspirators: Jackie Hoo Choon Cheat & Neo Kuon Huay) $190 million 20,000 MLM and ponzi scheme touted at multi-X% returns that marketed lifestyle packages through the incorporated company "Sunshine Empire". [31] [32]
One crypto observer called Basis a scheme to turn lead to gold, pointing out that Basis relied on “a first-in first-out basis—which is how payments are made in a pyramid scheme.” (Basis ...
2021-Authorities were first alerted to the money laundering scheme. [2]15 August 2023-The 10 accused in this case are arrested. Assets worth over 1 billion Singapore Dollars were either seized, frozen or issued prohibition of disposal orders, including vehicles, Bearbricks, properties, luxury items, grand pianos, liquor and wine.
BurnLounge (shut down as pyramid scheme by FTC in 2012) Equinox International (dissolved in 2001) European Grouping of Marketing Professionals/CEDIPAC SA (dissolved in 1995) European Home Retail (dissolved in 2007) Fortune Hi-Tech Marketing (dissolved in 2013) FundAmerica (bankrupt in 1990) [25] Holiday Magic (dissolved in 1974)
Affinity – a form of § investment fraud in which the fraudster preys upon members of identifiable groups, such as religious or ethnic communities, language minorities, the elderly, or professional groups, by gaining their § confidence and using unsuspecting community leaders to help further the scheme. [4] Asset diversion, see § Insurance
The lawsuit accused Target's board of directors of overlooking the risk of negative backlash and led the company to lose over $25 billion in market capitalization.