Jump to content


Pyramid Scheme Organizers Brought To Justice


DBC
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 3476 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

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.

Link to post
Share on other sites

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

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Link to post
Share on other sites

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.

Link to post
Share on other sites

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.

Link to post
Share on other sites

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"

Link to post
Share on other sites

 

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 !!!!!!

Link to post
Share on other sites

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.

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...