Hi Mr Tan,
I came across a few website that claims that a person can earn thousands of dollars in a few month by just working from home. Somehow I managed to find a website that is Singapore based that claimed to do that. The website shows a lot of success stories, comments by Singaporeans and also proof of payment etc. Out of curiosity, I went to try out the offer. The website offer a few packages ranging from Free account to SGD$250 a year. I signed up for the SGD$100 2 years package as it seems to be the popular package for starters.
Basically how this thing works is that when you sign up under a specific person, the person will earn commission. The higher the package the referral signed up with, the higher commission they will earn. After which, the person start sending email on tips to get more people sign up i.e. through advertising, words of mouth etc. I tried online advertising and somehow manage to get quite a number of users sign up under me. Most of them sign up the free package (which I suppose will take a lot of years to earn and also I won't earn any commission for that) and also somehow I got 3 person who sign up paid package under me.
During that period of time, users under this program need to reach SGD$100 in order to cash out. Once, I reach SGD$100+, I requested for cash out as I'm afraid that this might not last long. It took quite long for the cash out to process but they did pay me. Although my package still left with 1 more + year. I have stop participate in this program though my account still active. The reason is because I just wanted to know more about how this things work and also I have already got back my money (though I earn a few dollars). Most importantly, I'm afraid that this program might cause some people like students who are not working and fork out their savings. They might lose their money if they cannot find people to sign up under them or they may even pester their friend to sign up under them resulting in lose friendship (see the link below on Push MLM and lose a friend). Moreover, I don't think this kind of program will last long and the person who earn the most is the creator of this program.
I am just wondering what kind of scheme is this called and is this legal? I do have friends who are in MLM who sell health products that also requires to fork out money for products and additional money for training. When they approach me to attend a talk, I will try to avoid. Friendship starts to become drift apart because of this. I frequent read newspaper also found out there are advertisement on "Earn millions dollar a month/year" by attending their seminar to learn more. I never attend such seminar before so I wonder is this similar to one of the above-mentioned story?
It would be glad if you could share your views on the above-mentioned story, Ponzi Scheme, MLM, newspaper ads and related stuff.
Best Regards
Ray
Links
The package that I signed up under (she is the one I keep contact with and I believe she has a lot of people sign up under her)
Push MLM and lose a friend
6 comments:
There is no product or useful service provide, this is another Ponzi/scam in the making... I now understand that a bussiness must have a positive tangible results for society and the person, Beside just earning money... Will not touch this.... Good that your reader have brought this up.. for other readers to be aware...
Why does our goverment allow this sort of worthless bussiness to continue?
In a month time or so, there's going to be a similar scheme launching, call Weath Paragon.
Min package cost $1000/yr. Was told one can even earn $10 per new recruit even if you are not the referral. You earn $400 per new recruit if you are the referral.
The only thing I saw from the presentor's face is "GREED"
To the writer of this article:
You got your money back because you helped the crooks to cheat on more people. You should be ashamed of yourself.
All I can say is that whoever participate in such a scheme is driven by greed and made themselves part of the problem.
Years ago, when my friend lose her job as an accountant, she joined an MLM firm peddling health products. When she approached me to join, she was kind enough to pay for my membership fee & gave me a product for free to try. Out of courtesy, I did bought 1 product from her to try. The product does not have any significant results and so I stopped contacting her altogether after that. At that point of time, I had no idea what is MLM. Only after reading some newspaper report, I realised this is pyramid selling. I count myself lucky that I did not really get cheated and my so-called friend had never contacted me again.
I am a victim! I lost my money $ 100 Singapore dollars, really do not know shame fraud group, to stop movement! To stop this event!
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