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A get-rich-quick scheme is a plan to obtain high rates of return for a small investment. Most schemes create an impression that participants can obtain this high rate of return with little risk, skill, effort, or time. The term "get rich quick" has been used to describe shady investments since at least the early 20th century. [1] [2]
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure hunts, and charms and talismans.
An ad for a work-at-home scheme posted on a pole. A work-at-home scheme is a get-rich-quick scam in which a victim is lured by an offer to be employed at home, very often doing some simple task in a minimal amount of time with a large amount of income that far exceeds the market rate for the type of work.
A sucker list is a list of people who have previously fallen for a scam such as a telemarketing fraud, lottery scam, high-yield investment program, get-rich-quick scheme, or work-at-home schemes, or, as used by charities, someone who made a donation. The lists are usually sold to scammers or charities. [1] [2] [3]
The get-rich-quick schemes the group offered to clients added up to what was essentially one big Ponzi scheme. [3] The club enticed the sons of wealthy families from the Harvard School for Boys (now Harvard-Westlake School; not affiliated with Harvard University) in the Los Angeles area with get-rich-quick schemes.
Paul Michael "Mike" Larson was born to Ruth Larson [5] on May 10, 1949 [6] in Lebanon, Ohio. [1] One of four brothers, [4] he graduated from Lebanon High School in 1967. [7] [5] By 1983, he was twice divorced and living at the home of his girlfriend, Teresa Dinwitty; she would later say of her "boyfriend and common-law husband, 'He always thought he was smarter than everybody else,' and that ...
Many “get-rich-quick” schemes are pyramid schemes, which rely on investors recruiting new participants to drive money, instead of actually generating wealth through a product or service. 7 ...
Bernard Cornfeld was born in Istanbul, in Turkey.His father was a Romanian-Jewish actor; his mother was from a Russian-Jewish family. They moved to the United States when Bernard was four years old; his father died two years later.