04-15-2014, 05:51 PM
Have you heard of this American company called TELEXFREE?
It's a Madoff-esque scheme (they call it 'multi-layered marketing' to make it sound more sophisticated than it really is) in which you basically have to find new customers who pay to enter the business and these then have to find new customers and so on and so on.
There are also packets of prepaid phone calls and internet ads involved but that's obviously just a decoy.
This has become hugely popular where I live in, a big percentage of the population has invested A LOT of money and I was actually approached 4 times by different people to invest some money. Needless to say, I said no.
Well, suprise, surprise, it seems that yesterday the company has filed for bankruptcy in America and lots of people are going to lose A LOT of money.
What I find disgusting is the collective immorality of the whole business: everyone involved is either stupid OR dishonest because they know that in the near future the bubble is going to burst and many people are going to suffer BUT THEY JUST DON'T CARE!
It's a Madoff-esque scheme (they call it 'multi-layered marketing' to make it sound more sophisticated than it really is) in which you basically have to find new customers who pay to enter the business and these then have to find new customers and so on and so on.
There are also packets of prepaid phone calls and internet ads involved but that's obviously just a decoy.
This has become hugely popular where I live in, a big percentage of the population has invested A LOT of money and I was actually approached 4 times by different people to invest some money. Needless to say, I said no.
Well, suprise, surprise, it seems that yesterday the company has filed for bankruptcy in America and lots of people are going to lose A LOT of money.
What I find disgusting is the collective immorality of the whole business: everyone involved is either stupid OR dishonest because they know that in the near future the bubble is going to burst and many people are going to suffer BUT THEY JUST DON'T CARE!