What was the name of the pyramid scheme involving gifts a few years ago?

Discussion in 'Is this a scam?' started by Brendan Burgess, Dec 9, 2017.

  1. Brendan Burgess

    Brendan Burgess Founder

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    I have been trying to find the reports of this scheme.

    People would meet in each other's houses and give a gift. Then they would be entitled to receive gifts.

    IIRC, it was primarily targeted at women and used language about "empowering women to create their own wealth."

    It burst when a group of thugs held up one of the meetings and took all the cash.

    Brendan
     
  2. seamless

    seamless Registered User

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    Women empowering women.

    My partner was present at that meeting and was convinced it was an inside job.
     
  3. mtk

    mtk Frequent Poster

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    Christmas ?
     
  4. Brendan Burgess

    Brendan Burgess Founder

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    That's it. Thanks. It seemed much more recent. I see that some of the victims tried to sue people to whom they had given gifts.

    Investors in pyramid scheme lose their case
    Thu, Dec 5, 2002, 00:00




    Two participants in a pyramid investment scheme called "Women Empowering Women" yesterday lost their case in Dublin District Court.

    Judge Michael O'Leary dismissed an action taken by a brother and sister after he found that they had failed to show the ingredients necessary to establish that there was a contractual relationship between them and the main beneficiary of the scheme.

    Rose and Dermot Snedker sued Linda Laird for breach of contract and misrepresentation after they invested €5,713 in the expectation that they would make €45,720 in eight weeks. A friend of Ms Laird's, Hazel Johnson, was sued separately and that case was also dismissed.

    Judge O'Leary said that the scheme operated by way of people coming in at the lowest tier and gifting money to others on the basis that contributions would come in from a "never-ceasing flow of new entrants", which was clearly unsustainable.

    "Nemesis was an in-built feature of the scheme from the start. An early minority would win, but a large majority would always lose".

    Judge O'Leary said that the case did not come within the scope of the 1980 Pyramid Selling Act. It was clear from Mr Snedker's evidence that he had signed a gifting certificate to Ms Laird, but this did not represent a contractual relationship.

    The key to success in the WEW scheme, which at its height involved an estimated 4,000 to 6,000 people in Ireland, was to get into it as early as possible and then get out quickly, Ms Laird had said in evidence.

    Dermot Snedker had lined up two relatives to contribute to the scheme, but planned meetings at which new people were introduced had been cancelled by Ms Laird, he told the court.
     
  5. Brendan Burgess

    Brendan Burgess Founder

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    I couldn't find any of the discussion online about this.

    It would be useful reading for the Bitcoin fanatics.

    Brendan
     
  6. noproblem

    noproblem Frequent Poster

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    No doubt it would be, but they might have jumped ship early with their loot. :)
     
  7. Bronte

    Bronte Frequent Poster

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    About 15 years ago I was talking to an Irish girl. Her brother etc had invested in some phramid scheme in Ireland. It was mega at the time. Involved the 'winner's flying to Bulgaria or something. I told her he was stupid and she just thought I was the crazy one because her brother had made some money at the beginning. Her entire family were at it.

    What freightened me was that a perfectly sane rational woman thought I was the crazy one when I tried to explain to her what a pyramid scheme was. Evening explaining that there is no easy money didn't work. True believers of course. That's my conclusion.
     
  8. roker

    roker Frequent Poster

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    I remember Amway washing powder etc. and juice fruit vitamins, I think they were pyramid scheme s
     
  9. TheBigShort

    TheBigShort Frequent Poster

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    Are you declaring Bitcoin and/or crypto currencies to be pyramid schemes? If so, on what basis?
     
  10. cremeegg

    cremeegg Frequent Poster

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    I don’t think Amway is a pyramid scheme. There are real products for sale. Tupperware Avon and Amway are real businesses. They may not be as lucrative as the promoters would suggest but they are legit businesses.