Online scams, pyramid schemes
And Ponzi frauds
by Jon
(California)
Online scams, pyramid schemes and Ponzi frauds are alive and well, swindling Internet money from people around the globe.
I would like to illustrate how digital gold currency is the preferred method of payment for most scam operators. Millions...no, TENS of millions in dollars and euros from strangers around the globe are channeled directly into the pockets of online thieves using digital currency.
Everyone I know is aware of these operations but pretty much echoes the same responses, some of which ring like this, "its not my responsibility or my job to police the Internet" or "...if people want to play and throw their money away, that is their business" and finally the mother of all excuses, "its legal in their jurisdiction so shut up and mind your business."
Regarding that last excuse, I would just like to say...no, its not and never has been legal or ethical to lie, cheat and steal money from strangers.
It was not acceptable in the 1920 when Charles Ponzi did it and it is by no means acceptable in today’s business world.
The invention of the Internet and the introduction of digital currency has made it possible to scam from 9,000 miles away behind a wall of proxies, but still...that does not make Online scams, pyramid schemes and Ponzi frauds legal or proper.
Ponzi and Pyramid schemes which con people out of their money were not invented by the Internet.
Most people know that Ponzi frauds; get their name from Charles Ponzi and his illustrious career as a swindler in the early days of the 20 century. But Charles Ponzi was arrested and went to prison for his crime. That’s right, it was a crime and still is..
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