Tax Guru-Ker$tetter Letter

Sunday, June 16, 2002

Multi-Level Scams

For decades, I have made many people mad by exposing the idiocy & illegality of several multi-level and pyramid schemes that were destined to implode, after making money only for the folks who got in early.

There is an interesting website devoted to just that topic, MLM WatchDog.

Interestingly, they have stories on two big pyramid scams that I wrote about over the past few years, warning everyone to stay away from.

The founders and many investors in the Global Prosperity Group scam are going to the slammer. My only question is why did it take the government so long to bust these guys? About five years ago, when some former clients became involved with it, and tried to lure me in, I did some investigation and wrote a lengthy piece on how it was blatantly illegal and destined for prosecution.

The Tax People was a group selling many of the same tax tips I have been writing & speaking about for decades, but in a multi-level pyramid fashion. These people are now heading to the slammer. You can see a short summary on the MLM WatchDog opening page, and a more lengthy expose on this page from another good alert site, Pyramid Scheme Alert.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 6/16/2002 10:24:00 AM Send this post: