Aug 22, 2014 | Economics / Financial, False Profits, Individual / Social Impact
Normally, a social or economic phenomenon, in which as many as 15 million American households participate year after year and which involves intrusive and sometimes disruptive personal and social interactions in addition to potentially thousands of dollars of lost...
Jan 16, 2012 | Economics / Financial, False Profits, Legalities and Laws
A court in Belgium recently ruled that the US-based multi-level marketing company, Herbalife International, is an illegal pyramid scheme. Herbalife is one of the largest and oldest of all multi-level marketing companies and operates in 74 countries. It is an American...
Oct 28, 2011 | Economics / Financial, Individual / Social Impact
MLM Hopeful: I just read your article, “The 10 Big Lies of Multi-Level Marketing.” I was wondering when you wrote it and if you still stand by it? FitzPatrick: Are you asking me about something in particular? MLM Hopeful: Well, I’ve heard that Amway is now a $10...
Sep 19, 2011 | Economics / Financial, False Profits, Pyramid Scheme Politics
A presidential candidate charges that the American Social Security system is a “Ponzi scheme” not long after the largest Wall Street Ponzi scheme in history collapsed and wiped out pensioners and charities. Pundits loudly argue the candidate’s claim but almost none...
Jul 30, 2010 | False Profits, Individual / Social Impact, PSA in the Media
Since the book, False Profits, was published in 1998, scores of journalists, including CBS 60 Minutes, Wall Street Journal, London Times, BBC and many daily newspapers, each have conducted interviews and presented news stories, feature articles or radio and television...