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Pyramid Scheme Organizers Brought To Justice


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A series of court cases has resulted in nine women in the Bristol area being convicted of conning about £20m from friends and family by running an illegal pyramid scheme:-

 

https://www.gov.uk/government/news/nine-convicted-of-multi-million-pound-pyramid-promotional-scheme

 

I started to take an interest in this story back in 2008 when it was reported in the Daily Mail. I feel sorry for all the people who have been conned out of their money.

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It seems to have taken a long time to bring these to trial !

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It actually was a series of trials. The first one took place in 2012 - but with a news blackout. I imagine the whole process was very complicated with thousands of victims, a mountain of paperwork and many people to interview. Also, because this seems to be the first case brought under the new ant-pyramid legislation, then I think that the prosecution team wanted to get it right.

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How was this sold to members without them realizing they will be trying to con new members out of their money.

 

Because ( to put it bluntly) people were greedy. Back in 2007 I started a thread on MSE all about this [problem]. Most posters were in agreement it was a [problem]. But a couple of people (probably members of the scheme) kept insisting that we didn't understand about it, we were jealous they were making money and even that we were running a rival scheme and wanted to discredit them. Even when the basic maths of a pyramid scheme was explained to them, and we asked the simple question of where the "new" money was coming from they still insisted that they were right and we were wrong.

 

The same goes about articles run by a couple of newspapers in the Bristol area. There was a hard core of people who via their comments insisted that the paper and Trading Standards were wrong, they were right and and everyone would be a winner and there would be no losers.

 

This is an example of the stupid posting on MSE from one of the schemes fans:-

 

ITS A RISK.................. maybe at some point down the line, maybe in 6 months or maybe in 3 years we will all run the risk of losing our money on our particular chart (as this is the only one that I can comment on!!) If this does happen then it will be 7 people who lose out and the chances are that they will be people who have gone back in anyway and already made a profit, 50% of our chart are "re-investors" at the moment........ it could even be me.. so be it...... Im a grown up!! No-one that I have come into contact with are under any illusions.

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Here are a couple of comments from the original newspaper article:-

 

http://www.southwalesargus.co.uk/news/11482628.Women_guilty_over__pyramid__scheme/?action=success#comments

 

Well i know people who are on the charts and had numerous payouts!! People are too quick to assume, facts are fact, and not from a third party, the fact is it is working, i have been to a payout and seen it, the people there didnt look very vunerable to me, all were there of there own accord nobody forced into it.

 

I am sick of hearing about this Pyramid [problem].... Wot we are doing is not a pyramid. The difference between the two is on the pyramid scheme the person at the top made money from everyone below them, this doesnt doesnt happen with ours, when you get to the top and you have had your money you come off the chart, the chart splits then the 2 people you have bought in go in for there payout... and so on .. No matter what anyone says this is all legal.. you have to win your money on the night and donate a certain amount to charity! Why complicate things by trying to work it out mathematical, you invest 3K and bring 2 people in behind as long as people keep investing and bringing the 2 people in it will keep going, if you dont bring 2 people in then you dont move up the chart!!! You know exactly where your 3K is going you give it to the person in payout on the night, if people dont want to do fine, but keep your opinions to yourself, alot of people commenting dont know the facts of what is going on and im sure if you did know you would be doing it like the rest of us!

 

 

The "winning the money on the night" actually consisted of answering a very simple question such a "name a piece of cutlery"

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Well i know people who are on the charts and had numerous payouts!! People are too quick to assume, facts are fact, and not from a third party, the fact is it is working, i have been to a payout and seen it, the people there didnt look very vunerable to me, all were there of there own accord nobody forced into it.

 

I am sick of hearing about this Pyramid [problem].... Wot we are doing is not a pyramid. The difference between the two is on the pyramid scheme the person at the top made money from everyone below them, this doesnt doesnt happen with ours, when you get to the top and you have had your money you come off the chart, the chart splits then the 2 people you have bought in go in for there payout... and so on .. No matter what anyone says this is all legal.. you have to win your money on the night and donate a certain amount to charity! Why complicate things by trying to work it out mathematical, you invest 3K and bring 2 people in behind as long as people keep investing and bringing the 2 people in it will keep going, if you dont bring 2 people in then you dont move up the chart!!! You know exactly where your 3K is going you give it to the person in payout on the night, if people dont want to do fine, but keep your opinions to yourself, alot of people commenting dont know the facts of what is going on and im sure if you did know you would be doing it like the rest of us"

 

Lemmings. ..... Lambs to the slaughter !!!!!!

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Today's Telegraph has a long article about the women behind this crime:-

http://www.telegraph.co.uk/news/uknews/crime/11110946/The-story-behind-the-respectable-pyramid-scheme-ladies.html

 

I like this bit:-

 

He described Fox as a “forceful” character, but her background had obviously reassured investors. Mr Bracken said: “There is no doubt that for some of the victims, seeing these ladies did add to the sense of trust and did make them more likely to invest.”

Not that Fox seems to have cared too much for her customers. Minutes from the meetings taken from her house show her to be something of a snob. She showed disdain for the “gum-chewing” attendees at one event and at another expressed “sheer indignation” that a “bride” had brought cava rather than champagne to celebrate her windfall.

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