Message Font: Serif | Sans-Serif
No. of Recommendations: 9
This is garbage. Some of the people who get in at the very beginning will get some money, but soon that will stop.

Some relevant articles:

Attorney General Warns of Women's 'Gifting' Scam
Albuquerque Journal, November 30, 2000
"A 'gifting circle' that claims to offer psychological, spiritual and financial support to women appears to be an illegal pyramid scheme that risks participants' money, the state Attorney General's Office says. ... 'It appears these gifting clubs are a pyramid scheme, and under New Mexico law that is illegal,' Thompson said. The schemes have various names including the Dinner Party, the Gifting Club, Women Empowering Women, Heart to Heart and the Circle of Friends. So far, the schemes have only been targeted at women, Thompson said."

New Wrappings for Old "Gift"
Pyramid Scheme Alert, 01/26/2001
"...Why is participating in this scheme illegal? Because the scheme requires that a certain group cannot recoup their money. It is designed to trick and defraud these people. The losses occur not because demand declines or markets have changed or because of competition or any other cause that is normal and legal in business. The Gifting Scheme is set up from the beginning so that, at a certain point, the people at the bottom won't be able to find new investors and will therefore lose their money. If you recruit someone into such a scheme, you are participating in a fraud upon those at the end, whoever they are."

Illegal Pyramid Scheme Hits Northeastern Indiana

'Gifting Club' Scheme Sweeping Canadian West Coast (scroll down)
"Common sense dictates these 'gifting clubs' are nothing more than money games that require an endless flow of new recruits in order to make money."
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.