Sentenced to 9 years and fined NT$500,000! Be wary of this new pyramid scheme (via CoinsRadar.net):
in recent years
MLM appears in more subtle ways
indistinguishable
Hard to guard against
Period 2016 to 2019
An international group has launched
International platform electronic stocks "blessing unit"
VV Farm Platform Electronic Stock “Rice”
and virtual currency “SBC Coin”
Promote that the electronic stocks on the platform will only rise but not fall
Investment will surely yield high returns
Absorb investment from members under the guise of managing money and making money
Participants must be recommended by members of the platform
and purchase a certain amount of "financial management products"
as entry fee
to become a member
After a new member is recommended to join the membership
Old members can enjoy commissions ranging from 6% to 15%
The more downlines there are, the greater the investment amount.
The corresponding commissions for membership levels are also rising.
2016
Wang was recommended by someone to become a member of the MLM platform
And directly or indirectly developed 182 people offline in Yangjiang area
Formation level 10
Collected more than 94.45 million yuan in funds from participants in pyramid schemes
Jiangcheng District Court held after hearing that
Wang ignored national laws
Taking high profits as bait
Lure participants into purchasing financial products
To achieve the purpose of defrauding property
Several levels of up- and down-line interpersonal networks are formed within the organization
Number of people developed directly or indirectly by participants
As a basis for remuneration or rebate
disrupt social and economic order
The circumstances are serious
Therefore, he was charged with the crime of organizing and leading pyramid schemes according to law.
Wang was sentenced to nine years in prison
and a fine of RMB 500,000
Wang was dissatisfied and appealed
Yangjiang Intermediate People's Court ruled to reject the appeal and uphold the original verdict
The judge says
As Internet finance becomes increasingly active, pyramid schemes also appear in disguise under the guise of Internet finance. In order to attract more people, criminals fabricate various investment projects, either with high interest rates, investment in shares, high-paying positions, or Get commissions by developing downlines, etc. Criminals mainly conduct MLM through methods such as "pulling people's heads", defrauding "entry fees" and "team remuneration". The so-called products they operate are only symbolic "props". The judge hereby reminded that some current online MLM schemes are highly instigative, and the MLM scams are also more covert, develop offline more quickly, have more people defrauded, and have more diverse methods. ".Remember that there is no "pie in the sky". Those who ask you to pay money and then make money, or "draw people's heads" to develop offline, do not participate. It is necessary to establish a preventive awareness of getting rich through hard work, illegal pyramid schemes, and rejecting pyramid schemes, and jointly resist and prevent pyramid schemes.
