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Thread: Is Cash Gifting legal in your state ??

  1. #1
    littleroundman is offline Administrator
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    Is Cash Gifting legal in your state ??

    Pyramid Laws by Country
    This is provided for
    convenience. You should
    look up the full text to check
    for updates and changes.
    Canada
    Competition Act
    CHAPTER C-34
    Canada
    (French laguage)
    Concurrence, Loi sur la
    CHAPITRE C-34
    United States(1)
    Federal Code
    Australia
    Fair Practices Act
    State Laws Concerning Pyramid Schemes
    * Alabama
    *Alaska
    Arizona
    Arkansas
    **California
    Colorado
    Connecticut
    Delaware
    Florida
    Georgia
    Hawaii
    Idaho
    Illinois
    Indiana
    Iowa
    Kansas
    Kentucky
    Louisiana
    Maine
    Maryland
    Massachusetts
    Michigan
    Minnesota
    Mississippi
    Missouri
    * Montana
    Nebraska
    Nevada
    New Hampshire
    ***New Jersey
    New Mexico
    * New York
    North Carolina
    North Dakota
    Ohio
    Oklahoma
    Oregon
    Pennsylvania
    Rhode Island
    South Carolina
    South Dakota
    Tennessee
    Texas
    Utah
    * Vermont
    Virginia
    *Washington
    West Virginia
    * Wisconsin
    Wyoming
    (1) Pyramid schemes are tried under the statute for illegal lottery.*Called a "chain distributor scheme" or "chain referral." **Called an "endless chain." ***No specific statute. Link leads to definition of fraud, bookmaking and lottery.

    Chain Letter
    A Chain letter can be an email, an actual letter, or even a postcard. It is a communication that requests the user to make copies and send the copies to many other people. While typically providing false exaggerated claims ("This letter has been around the world 8 times." "Pass this along and you will have good luck." "Disney and Microsoft will award you with gifts for continuing the chain." etc.) They are only annoying and usually started by people who enjoy making fools of others. If the chain requests a reply to an address to prove you sent it to your friends there is usually a sinister reason. Either to jam an email box full of junk email or to gather email addresses for later mass emailing of commercial offers. (No charity will be helping some poor child based upon the number of email address they get.)

    If the chain letter is a postcard with a threat that misfortune will befall those who do not continue the chain, it can be reported to the post office as a threat. This is not true for letters or emails.

    If the Chain letter requests an item of value in return, it can be an illegal pyramid scheme.
    Pyramid Scheme
    If a business plan earns items of value by introducing others to the business plan who in turn are expected to recruit others to the business plan to earn items of value; that is a pyramid scheme. It does not matter if the items of value is called a loan, commission, or gift. If there is a product involved and it is only used to get members into the plan (four reports, software, web pages etc.) it is still a pyramid scheme. Multi-Level Marketing is not a pyramid when products are bought to be sold to people who are not members of the plan.
    Ponzi Scheme
    A plan of fraud where newer contributions are used to pay early members to make it appear there are major earnings. This is normally not a pyramid scheme. It is still fraud. Named for Charles Ponzi (1882-1949), who had a popular scheme that paid early investors with money gained from later investors.

    For further information, please do a quick Google using the search term: Chain distributor schemes
    The only thing necessary for the triumph of evil is for good men to do nothing

  2. #2
    fromthehood is offline Member
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    Re: Is Cash Gifting legal in your state ??

    The only county I know cash pyramid is legal is Russia. Probably it is also legal with most former Soviet Republics since their laws are very close.

  3. #3
    kschang is offline Senior Scambuster
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    Re: Is Cash Gifting legal in your state ??

    Even AFTER MMM had been exposed as fraud? *sigh* Those poor commies...

  4. #4
    GlimDropper's Avatar
    GlimDropper is offline Administrator
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    Re: Is Cash Gifting legal in your state ??

    Yes but it could prove to be an interesting sentencing option for people convicted of perpetrating these scams. Either face criminal charges and civil penalties or be extradited to a jurisdiction where your activity is actually legal. Hell, come to think of it don't give them the choice, just ship them all to Uzbekistan.
    So your prophets of finance have fallen on their collective proverbial face, and you hear muffled voices calling: Welcome to the human race.
    You made a killing dealing real estate at NASA selling cemetery plots in outer space til some falling coffins crashed upon your doorstep: Welcome to the human race.

    Open up your heart...

    Welcome to RealScam.com.

  5. #5
    fromthehood is offline Member
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    Re: Is Cash Gifting legal in your state ??

    Quote Originally Posted by kschang View Post
    Even AFTER MMM had been exposed as fraud? *sigh* Those poor commies...
    Exposed as fraud many times. However, nobody was punished yet and advertising had been going on all channels openly for a long times. And that despite fact that they never hidden fact that it is cash pyramid. Now after crash MMM 2011 they are starting MMM 2012 and nobody says it is illegal. Russian government just posted message that they are washing their hands away with MMM and members should not expect government's help.

  6. #6
    littleroundman is offline Administrator
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    Re: Is Cash Gifting legal in your state ??



    Read the complete article at CashGiftingWatchdog.com
    Last edited by littleroundman; 07-03-2013 at 06:24 AM.
    The only thing necessary for the triumph of evil is for good men to do nothing

  7. #7
    BoBosworth56 is offline Senior Member
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    Re: Is Cash Gifting legal in your state ??

    There is a guy on youtube who has been defending cash gifting the past couple of days. We asked him to tell us which state he lived in so we could prove that it was illegal. He didn't want to tell us which state he was in but wanted me to prove that it was illegal in Alaska.

    I found this:

    http://www.law.alaska.gov/pdf/consum...ert_070104.pdf

    More proof. When will they listen?

  8. #8
    littleroundman is offline Administrator
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    Re: Is Cash Gifting legal in your state ??

    Last edited by littleroundman; 07-03-2013 at 06:28 AM.

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