Have you ever been part of a MLM pyramid scheme?

Everett Level X⁴

July 8, 2016, 6:46 pm

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I'm wondering if anyone here has been part of a MLM pyramid scheme? This question is derived from the "SmashFund - the next best social media and crowdfunding platform in one?" discussion. If you haven't viewed that discussion you should!

Pyramid Scheme:
a form of investment (illegal in the US and elsewhere) in which each paying participant recruits two further participants, with returns being given to early participants using money contributed by later ones.

I'm wondering if you have ever took part of one, and if it was actually successful for you. In some countries it is illegal to operate a pyramid scheme. A lot of the times owners of pyramid schemes are usually jailed for fraud.

I want to know your experience based on such schemes. If you have never took part, why?

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Webguy2024

Actually, I have never participated in MLM because it is fraught with scammers. I recently learned of a new MLM scam from a colleague which got involved in a particular MLM scheme and it is called https://www.worldgn.com/usa/

Their pitch is exciting ---> BUT!!!!!
Products do not work as promised along with many other issues of non delivery. My friend also reported that they are engaged in false advertising. I can't personally verify this but I trust his 20+ years of expertise in this field, plus he bailed on the company which, say a lot.
MLM TIPS: DON"T TAKE THE BAIT SO QUICKLY AND VERIFY EVERYTHING BEFORE YOU PART WITH YOUR MONEY.

Gentle Note: Work for yourself. If you guide your own life path you will be happy, wealth and wise. Enough said here. If an opportunity pops up and seem too good to be true then it is time to verify and read the details of the terms and conditions with a discerning business eye! If you still don't understand the goobly goop then move on. No One Gets Rich Quickly Online! It take hard work and perseverance. If anyone disagrees with this statement, then please give an example of a get rich scheme that actually works so, I too can make some fun money, Lol

10 years ago

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Lynne

Brilliant advice. My advice for all MLM... run, run for the hills. Run fast and run far.

10 years ago

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Everett

Or just click the little "X" symbol on the window tab ;)

10 years ago

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Lynne

Yes that works too. I always close as soon as I see MLM, no point in reading any further than that is there?

10 years ago

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Everett

There is no point at all. No need to waste your time, and be scammed.

10 years ago

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ajlancer

Hi Webguy2024 you explained really well. Here on BD lot of MLM company operating their business and specially near about 2000 some MLM companies operating their business very well and lot of customer was involve but after some years they scram. And they made huge amount of money by selling virtual product. Though as per as I know selling of virtual product violation of local consumer rules. And as my experience said over 90% MLM companies are selling virtual product and they false advertising about product. Or, and they has few product and very high price and has some investing plan but visionary and never reachable.

Regards by Ajlancer

10 years ago

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Lynne

My first introduction to MLM was when I was in my early twenties and a neighbor invited me for coffee.... and told me to bring a friend. It did seem a little odd at the time to "bring a friend or two" but she was so friendly and nice that I just ignored that and invited my best friend to come with.

When we arrived she gave us some biscuits and coffee then pulled out a whiteboard and started telling us about this amazing opportunity with Amway. I got sucked into the promises and so did my friend. We signed up and very soon it became very clear it had nothing to do with products, it was only about suckering the next person in.

I don't like MLM, I think it is deceptive and underhanded. If something is MLM that is all I need to know, I am NOT interested.

10 years ago

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Everett

It's devastating when you try and help someone, only then to find out that the service or business is actually a scam. Why do so many people scam? Seriously can't they create a REAL business, and earn REAL money and try that? I mean they apparently know how to market, so they should be able to run a REAL business.

It just irks me when there is so many people caught up in scams that can't get out because they keep being told to wait for the opportunity, or the opportunity will come to stay with the company.. bleh bleh is all i hear! LOL

10 years ago

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TommyCarey

I've been looking over smashfund ever since someone posted about it the other day in the community discussion. I made a profile over there and everything lol

I just haven't had any time to actually get deep into researching what they're all about.

Anyways, a long time ago (in a galaxy far far away) I was dumb and joined up an MLM system that I didn't realize was a scam. They didn't take any of my money because I sucked at marketing back then, but they could have cleaned me out if I stuck with them. There were a ton of people there, I wish I could remember what it was called. All the people did was get referrals and hope that their referrals referred people, it sucked.

I was actually on instagram not that long ago and someone kept pushing what was obviously an MLM scheme. The kept tagging people and posting about how they made $1,000 yesterday and are on track to make $1,200 today, which is not true at all. The guy even went as far as to rent a Bentley for $500 and take pictures in it. He was so dumb that he even told people that he was making so much money that he rented a Bentley for a day lmao

Hell, I can go rent a Bentley for $500 if I wanted to, but I'm not trying to push some crappy MLM scheme to get people to sign up and market my links

10 years ago

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Lynne

ROFL laughing, I posted about SmashFund Razzy, and oh it is bad.

Yeah I can also rent a Bentley for a day and post pictures of me in it.. but why one earth would I do that? I hate MLM and there is so much of it online, it makes me sick. People lose money and they lose friends.

Like you say they target friends and family, tagging people in posts. I really detest that sort of thing.

10 years ago

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Everett

Yes, not only is the person posting photo caught in the scam, the friends and family could also be caught in too. Scams can be somewhat of an addiction. The thrill of making easy money on the internet is probably the same as gambling, and thus probably the same psychological disorder? You always want to win. It's something that probably isn't taken into account via the medical industry which actually needs to be looked at, and peered reviewed by a panel of psychologist.

Just think, millions of people have probably been in a scam at some point in their life. Even I have, and that site was like 2dollarclick, and that was years ago.. I was stupid and just starting out earning money on the internet.

10 years ago

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Everett

Oh yes, I think that site is by far the biggest scam of 2016. I mean really? Paying $149 to signup and referring users to signup and you get like $50 from their signup, if they actually pay the $149. That site is absolute crap, and it'll probably go down as the scam of 2016. Lets hope I am wrong.

10 years ago

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ajlancer

Hi Everett thanks for your question. Yes in our country MLM (multi level marketing) or network marketing was very popular near about 2000-2010. And here several type of MLM company operate their business with different type of offer. And most of them business plan are same. I mean pyramid business plan. One guy is leading person and another guy is right person and another guy is left person and they will carry forward business with several commission. And I was involve a MLM company before starting work as outsource contractor. And I successfully did few months. But, then they scram after some months. Now I personally neglect all MLM companies and all are deceiver. They just play gambling with customer.

Regards by Ajlancer

10 years ago

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Everett

Yes, there is a lot of pyramid schemes everywhere, not just in your country. :/ It's very devastating that they offer the world, and basically you get nothing, but days, weeks, and even years taken off of your life for something that doesn't even works, and that will never work.

10 years ago

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Corzhens

Sometime in 1997, my boss joined an MLM. The products are legitimate particularly leather shoes and bags. However, there is a joining fee of 8,000 pesos which is roughly equivalent to $200. That joining fee is fine with me but what was wrong is the commission that my boss will earn from my sales. And she said that I can do the same when I get a recruit. That didn’t sit well with me so I evaded the and when she insisted, I told her point blank that it is against my policy to earn from the efforts of other people. That activity did not even reach a year because they ran out of recruits and they were not able to sell anymore. It was like throwing away that $200 joining fee.

9 years ago

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Seoclerks

Have you ever been part of a MLM pyramid scheme?

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