The below information was Forwarded to me by a friend having copied it from the Daily Nation Dated 1st October
A con
He may have a point about the Kes 500 going to the “organizer” but the rest of his points do not tally with the facts on the ground. When you are at Level 4, you do not make a million. As for not finding someone to sell to. many people do not mind doing numerous turns! As for one about 10% monthly returns, those who have invested in Sasanet definitely get that return, much as it sounds too good to be true. What is the verdict? Scam? Leave the skeptics alone!!
DOES THIS SOUND FAMILIAR?
DESPERATE KENYANS TO LOOSE SH5.0BILLION IN PHONEY INVESTMENT SCHEME
(This article featured in the Sunday Nation of 1st October 2006 Lifestyle Page 4.)
“With the good trading recorded at the Nairobi Stock Exchange, con-tricksters have come up financial scams promising astronomical returns in a very short time. I have heard of one that is paying 10% per month (you treble your money in one year!) Another one is paying out 80% in five weeks. But the most stupendous of them promises a return of over Ksh 4.6million from a paltry investment of only Ksh.2,500. This last scam is a classic “Pyramid Scheme”. In the Sh 4.6million Pyramid Scheme, you buy a certificate containing five names for Sh500. The seller appears last on this list. You are then asked to send another Sh500 to the coordinator of the scheme and Sh1,500 to the person appearing at the top of the list. Your total investment comes to only Sh2,500.
When these monies are paid you get another five certificates bearing your name at number five on the list. The other people have been moved up one slot each and the person who was at the top removed. Now you sell these papers to five new recruits at Sh500 each. At that point, you recover your Sh2,500 and the numbers begin to multiply. When the five certificates with your name at number five are sold, they generate 25(5x5) more with you at position four. When these are sold, they produce another 125(2x5) with your name at number three. The next level has 625(125x5). Finally when you reach the top slot, there will be 3,125 (625x5) certificates “out there”. These numbers form a pyramid shape hence the name.
Now each of these 3125 new members will pay you Sh 1,500 making a total of Sh 4,687,500! This can be achieved in a very short time because everybody in the pyramid only has to look for five people. Furthermore, the investment required is quite small - only Sh2,500 - and it returns very quickly when the five certificates are sold.
So what is wrong with the scheme? Why is it a scam? The answer lies in the source of these super profits. The money comes from the members buying the pieces of paper (“certificates”) from one another. The coordinator collects Sh 500 from each person-all for the purpose of helping them CON each other.
Unfortunately, Pyramid Schemes reach saturation very quickly. At that point, everybody who can afford to join has been recruited and there is no one to sell the papers to. When this Sh4.6million scam reaches the tenth level, it will have over nine million members (5x5x5x5x5x5x5x5x5x5) at the bottom of the chain and they have a hard time finding someone who is not already enlisted. These 9million people are the ones who will finance the whole scam. They will lose a combined total of almost Sh 5billion. At that point, the coordinator will have collected a cool Sh 1.2 billion.”
THIS IS JUST AN EXAMPLE OF LOTS OF ANY SIMILAR PYRAMID SCHEMES NOW COMMON EVERYWHERE
SADLY MANY UNSUSPECTING PEOPLE (INCLUDING BELIEVERS!) HAVE FALLEN PREY TO THIS GET-RICH QUICK CON GAME AND ARE HELPING ONE ANOTHER TO CON MORE OTHERS.
The Verdict is Yours.
CONFIDENCE is trying to fart when you are suffering fron diarrhoea ... Robert Mugabe