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1. See failure as a beginning to get in on the next scam a little sooner cupcake.
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6. Avoidcritical thinkers that ALWAYS spot a scam at the onset using several easy to follow rulesnegative people.
Signs you're the target of a Ponzi scheme
CUSTODY OF MONEY
Custody is the biggest red flag. Never allow any investment decision-maker to literally get their hands on your money. People running Ponzi schemes want it so they can slip it out the back door, and they will, immediately. And they need it at a small firm they control. It won’t work at a major brokerage, mutual fund or bank, with reliable, regular account statements.
NO BAD YEARS
Invest only with those who’ve had visibly bad years. Madoff claimed consistent 10% - 12% returns for decades. Never happens. Even the best investors, like Warren Buffett, have nasty years whose visibility demonstrates integrity. The crooks behind Ponzi schemes reveal no bad years. Stable, high returns lull knaves in, but are fantasy.
JARGON
If you can’t understand in simple English, run. This cycle's hot innovation is phony Bitcoin jargon, over 1,700 of these ponzis. Read about ‘em online. Few fully understand Bitcoin lingo. I don’t. So it works.
REFERRALS
Finally, they sell through your friends and through relatives. Madoff legendarily bilked the Jewish community and charity peers. Most Ponzi schemes target the five Cs: churches, charities, communities and country clubs, to gain trust. They start with their own friends and relatives—ultimately left destitute. Trusted referrals mean little themselves. Never invest based on them alone.
Other cons exist. But Ponzi is the biggie. Protecting yourself is simple.
https://www.usatoday.com/story/money...me/1005690001/
Koscot case has been referred to in every suspect pyramid scheme case since 1972.
(1) Payment of money to the company;
(2) The participant receives the right to sell a product (or service);
(3) The participant receives compensation for recruiting others into the program;
(4) The compensation is unrelated to the sale of products (or services) to the ultimate user.
A (MLM) Skeptic: MLM Dictionary: Koscot Test