Get rich quick schemes & scams

[diy_fun_uk]

Have you ever tried a legitimate (on the surface at least!) get rich quick scheme? If yes what was it and did it bear any fruit? Or similarly, have you tried your hand at something thinking it was legit that was later exposed as a scam?

Years ago (I'm going back almost 30 years) pre Internet etc, I saw an ad to get involved in promoting writing and publishing. Basically, you paid the company £x and they sent you loads of promo material that you were in turn to post out to 'approved/interested' people, provided to you on a mailing list. You were responsible for buying your own stationery and stamps. You could also place ads in local papers etc to increase your revenue.

Needless to say it didn't work. I don't think I made any profit. After this life learning lesson I realised the only people making the £££ were the ones I'd paid!

More on the outright scam / pyramid side of things, I seem to remember something that was doing the rounds years back, again pre Internet or social media. I can't remember the specifics, however it was something to do with £1. You gave x people a £1 each month and x people gave you a £1. You were supposed to make thousands within weeks (cause of 2 giving to 4 giving to 8 giving to 16 etc) however folk began to realise a) you ran out of people to give a £1 to and b) you were shelling out as many £1's as you were taking in, lol!

I think these days some of the make-up things being promoted online are being exposed as modern day get rich quick scams that only (financially) benefit the people running them, plus maybe 1-2% that seem to make the thing work.

 

[HERTS P&D]

Get rich quick - woman gets married!

Scammed - man's married woman!



Andy

 

[Brigade77]

I bought a pair of X-Ray Specs from a comic when I was 6. Life lesson learnt.

 

[fillyboy]

Life lesson learnt.

You saw right through it then.

 

[motorbiking]

The nutrition and diet business is full of scams. Lots of fat housewives working their t**s off selling magic powders to their mates for £50 a month.

the only winner is the scammers making the powder. They get away with claims it cures cancer because it’s the dumb housewife whose doing the bullsh*t

 

[mattylad]

I once participated in a water filter scheme, introduced into it by my dad.
turned out to be a pyramid scheme I think.
On my one and only sale the filter exploded and soaked the guys kitchen - passed it onto the people above me and ditched the whole thing.

 

[Harry Bloomfield]

Working for myself, having a bit of spare time/ not fully employed - I replied to an ad. in the paper to sell a certain marvellous cleaning product. To be fair, it worked reasonably, but was expensive. I had to attend a meeting/course on the product with several others. Idea was, you bought in bulk, then set up other sales people, to sell your stock, who did the same as you. Basically a pyramid selling operation, before it even had a name. Before the meeting had even ended, I had worked out that it simply would not work and quickly walked out.

 

[ETAF]

I was involved in a Multi-level Marketing (MLM) or network marketing scheme , which is legal , where a product was actually sold and changed hands and then a % paid out, not a lot different to commision, and commision proportional to sales, and your level in the organisation.
Unlike a pyramid scheme which is illegal where often no product exists.
Pyramid = Get Money , and people to give money
MLM = product flowing through, money based on product value & quantity
At first look they can look the same, I know a couple of people who made a lot of money and still do via a MLM , i tried but was not successful , and gave up around the mid 90's actually due to contracting meningitis, but before that was doing OK each month.

Avon $5.5B for example are a MLM company - 2/3 largest in world - but can look like a pyramid scheme. Amway is the biggest MLM $8.8B turnover
Not a get rich quick scheme though

 

[Doug99]

A few years ago an elderly relative died after many years of independent living. During the house clearance it was shocking to find cupboards full of health/vitamin products and magazines which he had obviously 'signed up to'. I redirected his mail to my address and for the next 3 months I received a mountain of mail from companies looking to sell further products to their 'loyal and valued customer'.
I hate to think how much it must have cost the poor man over the years.

 

[conny]

Many years ago I used to be a collector for Vernons pools and some customers also did Spot the Ball. I used to bump into a rival from Littlewoods and basically he admitted he only submitted a small number of STB coupons and pocketed the money. His reason was it was virtually impossible to win it and there was a clause saying something about "No Claims admissible/investigated." Or something along those lines so people didn't know their forms hadn't been submitted. He was making more money this way than what he got paid for collecting. I mentioned it to my Agent who mentioned it to his mate, who was a Vernons agent. Ultimately he was caught when they followed him and called at each house after he had been to collect. They simply asked the client if they played STB and how much they staked. After he had handed his takings and coupons to his Agent the Agent checked against the list he had. Didn't say anything to the guy but on the way out he turned and said to the collector, "Oh by the way, these gentlemn would like to speak to you." Two policemen stepped forward. Caught bang to rights, lost that job, ended up in court with a large fine, had to pay a substantial amount in compo to the victims and lost his full time day job as well.

 

[Harry Bloomfield]

I never gamble although I did once get persuaded to join a group at work, doing the pools as a group. One week we had a joint win, but the collector claimed he hadn't managed to get the coupon off that week, sorry - here is your stake money back.

 

[transam]

There was a report on the telly a good while back if I recall it was the
That’s life series

Some one advertised an insect or pest control system that used no chemicals
100% reliable and could distinguish between say a honey bee that u would not want to kill and say a blow fly that u would ?
Cost was about £25

people sent off for it and got there package

which consisted of a set of instructions and 2 blocks of wood marked A and B

catch insect place it on block A and hit it with block B

mind u all his claims were true

 

[big-all]

if it offers a return greater than around 6% a year it too big a risk for me so on £1000 a year that £1 a week

 

[Trazor]

I never gamble although I did once get persuaded to join a group at work, doing the pools as a group. One week we had a joint win, but the collector claimed he hadn't managed to get the coupon off that week, sorry - here is your stake money back.

Were you all acquitted ?

 

[Harry Bloomfield]

Be aware of https://quizmode.co - there is a link on Ebay to the site, which offers some great prizes if you win. You always win, they then ask you for your delivery address and want a small payment for delivery of the prize. Fill in any answers and they will be correct and you will win. Payment involves you entering your VISA card details. Almost certainly, you will receive nothing and I suspect they may increase the small charge for delivery, once they have your details.