I know someone that has had a significant lifestyle change because of this company. I only hope that he has covered all of his bases. There is an interesting quote in the L.A. Times article from an SEC official, saying that this scheme was trying to give the appearance of multilevel marketing.
I find the quote interesting because I get the sense that many people still feel that MLM is not a legitimate way to do business, but the SEC seems to think differently.
The Securities and Exchange Commission is seeking to shut down a network of 25,000 websites, accusing operators of running a $15-million pyramid scheme that promises to shower participants with easy cash.
Prosperity Automated System, which bills itself as a marketing network, "is destined to collapse and leave the vast majority of investors with substantial losses," the SEC said Wednesday.
I can assure you the SEC has No Opinion on legitimate Network Marketing one way or the other. There job is to protect the public and ensure orderly markets and capital formation. Step out of bounds and they will shut you down...
Posted by: Anonymous | September 30, 2006 1:33 PM | Permalink to Comment