Real estate investor seeks aprentice...20k month

[kdhastedt]

Yeah, apparently all ya need is a squirrelly idea that you call "The Secret", some laced Kool-Aid, some hype, and a few blind followers...at almost $20K a pop, the money sounds great!

Keith

[NoMoneyDown]

I'm hooked!  Where do I sign?!?!?!

 

[TonyDiCorpo]

Nouveau Riche ..........Just talked to a longtime aquaintance who has joined this outfit and already paid them $16,000 to go to their seminars and classes and was assigned a 'mentor' (who is simply someone else who paid $16,000 just 2 wks ago. He knows zip about real estate and his profession is totally unrelated. He has been fed the hype that he will get rich with this group in a very short time, and he is gung-ho on it. He now has to get five more people to fork over the same amount and then supposedly he would have re-couped his $16k.  Yes, there are folks who will do this, more than you think/

this was popular back in the 80's and early 90's only thing different is that they called it pyramiding, now they call it Arbonne, Amway....insert any scheme.....

[kdhastedt]

It's a Ponzi scheme pure and simple:

Ponzi Scheme

A fraudulent investing scam that promises high rates of return at little risk to investors. The scheme generates return by acquiring new investors.

Investopedia Commentary

The Ponzi scam is named after Charles Ponzi, a clerk in Boston, who first orchestrated such a scheme in 1919.

Although a Ponzi scheme is similar to a pyramid scheme in that both are based on new investors' funds to pay the earlier backers, they differ in that the Ponzi mastermind signs up new investors, who are used to attract potential investors, rather than the hierarchical pyramid setup whereby all the investors do the recruiting. Eventually, there isn't enough returns to go around and the schemes unravel.

Keith

[TonyDiCorpo]

wasn't Ponzi on Happy Days?  :o  

[kdhastedt]

...must have been Charles' son -- the one with the motorcycle and the leather jacket.

Keith