08.03.2022 - By J. David Stein
Why it is challenging to distinguish a legitimate multi-level marketing company from a pyramid scheme as hedge fund billionaire Bill Ackman found out in his losing campaign against Herbalife. How Forsage has taken pyramid and Ponzi schemes to a whole new level, and why the regulators can't shut it down.
Topics covered include:What are multi-level marketing companies and how most MLM distributors are unsuccessfulWhat is the difference between a pyramid scheme and a Ponzi scheme and what are some examplesHow hedge fund Pershing Square Capital Management took on Herbalife and despite FTC and SEC actions, Herbalife continues to thrive.Why Forsage, a pyramid and Ponzi scheme on the blockchain, continues, despite SEC regulatory actionsWhy Bitcoin isn't a Ponzi scheme
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Show Notes
Herbalife Settlement With F.T.C. Ends Billionaires’ Battle by Matthew Goldstein and Alexandra Stevenson—The New York Times
Multi-Level Marketing Businesses and Pyramid Schemes—Federal Trade Commission
Herbalife International Settlement Complaint
Herbalife Settles With S.E.C., but Too Late for Hedge Fund Investor by Matthew Goldstein—The New York Times
Consistency is Key! Make Money Podcasting by Elsie Escobar—Libsyn
November Stats From Rob Walch—Podcast Business Journal
Federal Trade Commission Returns More Than $149 Million To Consumers Harmed by AdvoCare Pyramid Scheme—Federal Trade Commission
Federal Trade Commission Returns More Than $23 Million To Consumers Deceived by Online Business Coaching Scheme MOBE—Federal Trade Commission
FTC Shuts Down Credit Repair Pyramid Scheme Financial Education Services, Which Bilked More Than $213 Million from Consumers—Federal Trade Commission
Investor Alert: Ponzi Schemes Using Virtual Currencies—U.S. Securities and Exchange Commission
What is Forsage?—Forsage Support
Related Episodes
248: How to Avoid Investment Fraud
253: Are IPOs the New Ponzi Scheme?
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