I'm submitting this as a warning to all my frats and sorors out there. Protect yourselves and your money.
There has recently been a targerted effort in Black communities to involve our people in a "Pyramid Scheme." For those who don't know, a pyramid scheme is an illegal form of an investment network. Individuals are solicited to "invest" a starter sum of money, in this instance $500 -- $2000. Once they have made their initial investment, they are at the bottom of the pyramid. One moves up the pyramid by recruiting others to invest.
Those you recruit then have to recruit others; and so on. "Investors" are promised a 400% return on their investment once they reach the top of the pyramid. The problem is, by the time you reach the top of the pyramid, those to whom you gave your money are long gone along with your money and your "dividend", that's why this scheme is illegal in most states.
There have already been arrests in Georgia, and the Ohio Attorney General is investigating the scheme here. The scam has used several names two of which are: FRIENDS HELPING FRIENDS and THE POSITIVE PEOPLES' NETWORK.
STAY AWAY FROM THESE SCHEMES!!!! YOU WILL LOSE YOUR MONEY, AND POSSIBLY END UP IN JAIL.
In it's present incarnation this scheme is run by Black folks and is centered in the Black community. They're soliciting at churches, organizations, civic associations and clubs. Protect yourself with knowledge.
Marc Booker
Email: SigMarc@aol.com
