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In a pyramid scheme, an organization compels individuals who wish to join to make a payment. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also receive a share of these payments.
Multi-level marketing (MLM), also called network marketing [1] or pyramid selling, [2] [3] [4] is a controversial [4] and sometimes illegal marketing strategy for the sale of products or services in which the revenue of the MLM company is derived from a non-salaried workforce selling the company's products or services, while the earnings of the participants are derived from a pyramid-shaped or ...
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)
primerica.com. Footnotes / references. [1][2][3] Primerica's headquarters building. Primerica, Inc. is a multi-level marketing [4][5][6][7] company that provides insurance, investment and financial services to middle-income families in the United States and Canada. [8][9][10] Primerica is the parent company of National Benefit Life Insurance ...
Glenn Wesley Turner (1934–2020) [1] was a salesman best known for his Orlando, Florida based multi-level marketing cosmetic company Koscot Interplanetary, Inc. Turner and Koscot became entangled in numerous legal difficulties and Koscot went out of business in the 1970s. [2] In 1987 Turner was convicted on charges of conspiracy, fraud and ...
Holiday Magic was a multi-level marketing organization, founded in 1964, by William Penn Patrick (1930–1973) in the United States. Originally the organization distributed goods such as home-care products and cosmetics. Company distributors were encouraged to recruit other distributors in a multilevel marketing structure, which was later ...
Betting on Zero. Betting on Zero is a 2016 American documentary directed by Ted Braun. It investigates the allegation that Herbalife is a pyramid scheme, and follows Bill Ackman 's short investment in Herbalife, which is ostensibly a billion-dollar bet that the company will soon collapse.
International Heritage Inc. International Heritage Inc. (IHI) was an American pyramid scheme and MLM company. The company was founded in 1995 by Stanley H. Van Etten, Larry G. Smith and Claude William Savage, and started with marketing and sales of luxury items such as jewelry and golf equipment. In reality, the products were almost exclusively ...