Monday, 25 July 2011

Pyramid scheme alert: "OneX"

An email arrives out of the blue saying:
The Easiest Money on Earth! WATCH the VIDEO
-- LAUNCHING WORLDWIDE in over 200 countries --
NO One is Left BEHIND
This is yet another “Get Rich Quick” scheme and like all of them it’s nonsense. The web site for this scheme, which calls itself “OneX” suggests that “You only pay $5.00 one-time out of pocket.
You can receive up to $99,460...”

As a wiser man than me once said, “Extraordinary claims require extraordinary evidence”.

Their web site fails magnificently to explain how it will really work. They have an online video that explains that by giving $5 you enter a network of people who will, miraculously and with no obvious reason, start giving you money. Lots of it. However at no point does it explain exactly why they would be insane enough to do this, or how you ‘ll actually be paid this fictional cash.

Also, they’re ever so slightly deceptive when they claim that “You only pay $5.00”. In fact you pay $5, then another $5, then $10, $20, $40, $80, $160, $320, all out of the thousands they suggest you’ll earn.

This is no more than a pyramid scheme. Actually they do say they’re not a pyramid scheme because they sell a product, What might that be? Educational material on how to run pyramid schemes. Ironic, don’t you think?

Steer well clear of all Get Rich schemes because the only person who will get rich is the crook behind it. Certainly not you.


Don Allen, M.A. Ed./MAT (Candidate Superintendent Licensure) said...

How do you know this is a ponzi scheme?

Richard Harriman said...

I didn't say it was a Ponzi scheme. I said it was a pyramid scheme.