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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 distributorships.
Multi-level marketing (MLM) is a controversial business model that involves selling products or services through a network of distributors who earn commissions based on their own and their recruits' sales. MLM is also known as network marketing, direct selling, referral marketing, or pyramid selling. This article explains the history, legality, criticism, and types of MLM, as well as some ...
1860s. Jacob Young, William Abrams, and Nancy Clem ran what author Wendy Gamber argues, in her book The Notorious Mrs. Clem: Murder and Money in the Gilded Age, was the first-ever Ponzi scheme. [ 1][ 2] In Munich, Germany, Adele Spitzeder founded the "Spitzedersche Privatbank" in 1869, promising an interest rate of 10 percent per month.
Thousands of people were tricked into joining an illegal pyramid scheme in Texas that targeted African-Americans and lost more than $10 million, according to federal authorities.. LaShonda Moore ...
The firm, say critics, allegedly operated a fraudulent pyramid scheme. Nonetheless, Albright earned a whopping $10 million between 2008 and 2014 from the company.
Many pyramid schemes and MLM schemes emphasize the importance of recruiting new participants. Programs that emphasize recruiting participants, and paying a fee, to join the program are likely ...
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)
The Amazon series 'LuLaRich' chronicles the rise and fall of multilevel marketing company LuLaRoe and brings new attention to the multilevel marketing business model.