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In Australia, Lyoness was under prosecution by the Australian Competition & Consumer Commission (ACCC) for operating an illegal pyramid scheme. The trial has ended and the judgment was reserved. In Sweden, the responsible authority concluded that Lyoness is a pyramid scheme and reported Lyoness to the Stockholm police.
Telexfree.com. Telexfree (stylized as TelexFREE ), a trade name owned by Telexfree Inc., was a multibillion-dollar Ponzi scheme disguised as an internet phone service company. Prosecutors have described it as the largest fraud of all time in terms of the number of people affected - more than 1 million, with victims in various countries.
A Ponzi scheme ( / ˈpɒnzi /, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. [1] Named after Italian businessman Charles Ponzi, this type of scheme misleads investors by either falsely suggesting that profits are derived from legitimate business ...
The airplane game, also known as the plane game, is a style of pyramid scheme first recorded in the 1980s in North America and later Western Europe. The common version of the system involved joining an "airplane" by paying a "pilot" to become one of eight "passengers". [1] [2] Passengers who started at the fourth step paid to join.
Fortune Hi-Tech Marketing. Fortune Hi-Tech Marketing ( FHTM) was a Lexington, Kentucky based company which used multi-level marketing to sell consumer goods and services. The company was founded in January 2001. In January 2013, the Federal Trade Commission (FTC) and regulators for three states shut down FHTM for being a pyramid scheme.
A matrix scheme (also known as a matrix sale or site, and as a hellevator, excavator or ladder scheme) is a business model involving the exchange of money for a certain product with a side bonus of being added to a waiting list for a product of greater value than the amount given. [1] Matrix schemes are also sometimes considered similar to ...
Miracle cars scam. The miracle cars scam was an advance-fee scam run from 1997 to 2002 by Californians James R. Nichols and Robert Gomez. In its run of just over four years, over 4,000 people bought 7,000 cars that did not exist, netting over US$ 21 million from the victims.
Protandim is a herbal dietary supplement marketed with unsupported claims that it can treat a number of medical conditions. The product is a patented mix of five herbal ingredients and sold by LifeVantage Corporation (formerly LifeLine Therapeutics, Lifeline Nutraceuticals, and Yaak River Resources, Inc), a Utah-based multi-level marketing company.