Pyramid Schemes

So the NY Post reported that Canada’s top consumer regulator has launched a formal inquiry into pyramid scheme complaints made against Herbalife.

Federal Trade Commission Chair Edith Ramirez is also feeling the heat to investigate it.

Herbalife, a multi-level marketer, has strongly denied allegations it is a pyramid scheme. The FTC said a company can be considered a pyramid scheme if its distributors make more money from recruitment than from selling product to consumers outside the network.

Multi-level marketing, network marketing....ponzi scheme?  As far back as I could remember these things have come and gone.  Amway, Mary Kay etc etc.  Some are also saying that Organo Gold also qualifies as a pyramid scheme.1040 US Singapore

I am by no means criticizing the business model.  After all, it does work for those that get in early enough.  To everyone else....good luck!


Popular posts from this blog

Perpetual Nomad? Is it possible to pay taxes nowhere?

6 Steps to Starting Your Location Independent Business

Navigating the Post-Wayfair World

Converting an LLC to an S Corp

Taxation of Digital Products