The Differences Between Ponzi Schemes and Pyramid Schemes

Ponzi schemes and Pyramid schemes share many of the same characteristics. They are both investment related scams where existing investors are compensated by the contributions of new investors. In both schemes unsuspecting people are fooled by promises of extraordinary returns on their investments. The difference between...

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Telemarketing Fraud Explained

Telemarketing fraud refers to any type of scheme in which an alleged criminal communicates with the potential victim via the telephone. It is usually perpetrated by businesses or individuals who convey false and misleading statements, promises, or presentations to encourage the sale of a product...

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Identity Theft Comes in Many Forms

Identity theft occurs when someone uses another person's identifying information, without that person's permission, to commit fraud or other crimes. Identity theft comes in many forms. It may include the unlawful use of someone's name, social security number, or credit card. The Federal Trade Commission (FTC)...

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Wednesday, November 30, 2011 Arizona's Attorney General has filed a lawsuit against several Phoenix-based telemarketing companies, alleging that these companies defrauded consumers of millions of dollars. According to the lawsuit, the companies targeted consumers who were interested in home- based business opportunities, and defrauded them of $6...

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Monday, December 31, 2012 A former bishop of the Church of Latter-Day Saints has been charged with investment fraud, involving members of his congregation. The man faces several criminal charges. According to the charges that that have been filed against Chad Bennett Reid, he defrauded members of...

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Thursday, January 24, 2013 Spurred by complaints by a prominent investor of the company, the Securities and Exchange Commission has begun an investigation into the operations of prominent nutritional product manufacturer, Herbalife. Herbalife, which describes itself as a “global nutrition company that has helped people pursue healthy...

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