Plasings

Pyramid schemes

 The following is the exact wording in the Consumer Protection act.  I have just highlighted some words, sentences or paragraphs to make a point.        PYRAMID AND RELATED SCHEMES (CONSUMER PROTECTION ACT 2008 SECTION 43:  (1) In this section— (a) ‘‘consideration’’ has the meaning set out in section 1, except that it does not include— (i) the purchase of any goods at cost to be used in making sales, or not for resale; (ii) the purchase of any goods in exchange for which the seller of those goods offers to repurchase the participant’s products under reasonable commercial terms; or (iii) the participant’s time and effort in pursuit of sales or recruiting activities; and (b) ‘‘participant’’ means a person who is admitted to a scheme for consideration.  (2) A person must not directly or indirectly promote, or knowingly join, enter or participate in— (a) a multiplication scheme, as described in subsection (3); (b)  a pyramid scheme, as descr...

Hunting the scammers and exposing their scams

  I have been contemplating starting this blog for a while. The purpose is that consumers can comment and send details of how they have been scammed and read up on the ones I have investigated and help with info on those I am busy with  I will start off by discussing some normal everyday scams that people fall for, hook line, and sinker.  The most popular of these is the pyramid schemes driven under the guise of Multilevel Marketing. Let me be straight about this: The concept of MLM is not new and there are some MLM's that can be taken with a pinch of salt. Most of them however are nothing less and nothing more than Pyramid schemes.   Under South African law and mostly in terms of the CPA ( consumer protection act) these are illegal schemes. Firstly I will quote the relevant application portions from the CPA. in the follow up post.  Here is my invite to readers of this blog: 1. If you have been scammed please send me details in clinical details ( No rants a...