Ponzi Schemes Taking Over YouTube

In a pyramid scheme, scammers persuade potential participants to pay money into a program, promising them easy money for each person they, in turn, persuade to join. As more people are enlisted, the money is simply funneled to the top of the pyramid, enriching the scam artist and leaving the victims at the bottom of the pyramid broke and embarrassed.
The YouTube videos in question are often misleading and confusing; many make references to supposed IRS codes that make the "gifting clubs" legal, and some claim to benefit good causes or churches.
Just remember; if anyone tries to convince you to buy into a "gifting program," or a similar scheme that requires you to recruit more members, steer clear. Even if the person trying to sell you on it is your own flesh and blood. [From: Better Business Bureau, Via: SlashDot]
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Comments
2
Subscribe to commentsMadMikeApr 15th 2009 3:41PM
Or, you scam the scammers... Join the scam, but don't give money - gain the schemer's trust and game the system. It's very easy.
Haywood JabloughmiApr 15th 2009 7:29PM
If your own flesh and blood tries to get you into a scheme like that, you're in the wrong family...