TELEXFREE bankruptcy!

[MisterLove]

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!

[jimcrackcorn]

"A Fool And His Money Are Soon Parted"

Never put your money in a high risk venture unless you have LOTS of extra cash laying around that you don't need or want.

I'm a bit of a Scrooge, and don't like throwing my money away. Friends have asked me to go to the gambling casino's with them and I always say no - cause there ain't no way I'll be having fun watching my money disappear into someone else's pocket.

[Mark]

If something seems to good to be true it normally is...

[CellarDweller]

"A Fool And His Money Are Soon Parted"

very very true!

[MisterLove]

[...] Friends have asked me to go to the gambling casino's with them and I always say no - [...]

This is much worse than casinos. You can lose money when you gamble but at least you're not hurting anyone.

When you join a Madoff-esque scheme like this, you know that you are going to hurt someone in the future but you just don't care. These businesses do not produce anything, they rely solely on the investment of new customers and one day the bubble will fatally burst and people will lose their money.

[MisterLove]

This is not even a typical swindle because EVERYONE involved (customers and promoters alike) are dishonest, that's how morbid, monstruous and disgusting these businesses are.