The New Pyramid Scheme: An Update

In January of this year I wrote about a new type of pyramid scheme that was somehow becoming popular in my hometown. At the time, I wrote the article (including plenty of research) and also sent all of my research about the pyramid scheme to a local newspaper hoping they would raise awareness.

Unfortunately, nothing happened.

After spending a good amount of time digging into which companies were involved, the relationship between all of the company directors and providing evidence of their blatant disregard of the law; the newspaper never followed through or got in touch.

Since my article the companies involved in the scam have actually continued to grow, with one of them moving to London and another moving to Cardiff. The original slime-ball prick who started this shit show even got to buy himself a new Porsche, which is lovely.

Luckily, one of the four companies (there could be more now) has closed down, but it would have been nice to see more ramifications for their actions.

If these companies were simply built on a bad product or service, I wouldn’t have that much of an issue with them. But when their business is created around taking advantage of vulnerable people like immigrants or students who desperately need money; that’s when it strikes a nerve.

Journalists are meant to uphold society’s moral standards, and I was shocked that the newspaper wasn’t interested in learning more about these companies or helping raise awareness to prevent more people being taken advantage of.

The previous article really didn’t even scratch the surface of what these companies are doing or the hilarious narcissism of their CEOs. It’s tempting to write a short ebook on the topic, but I’m unsure if it would be fulfilling without naming the companies directly. That being said, it could be a laugh.

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