Comments on: Watch Out for ‘Gifting’ Schemes

By: Marlon

Marlon — Fri, 17 Jul 2009 00:44:50 +0000

You tell very good stories. Im sorry those things happened..i too fell victim to an opportunity a long time ago. it doesnt feel good at all. however, i am seeing that the ones who have the law on their side by not doing cash gifting illegally have helped a lot of people. they tend to not do cash gifting as a business because if it were they would be recieving funds that must be taxed. so in any case, if the FTC were to defy the odds and actually look into a “cash gifting case”, they would send the person a slip giving him x-amount of days to provide some kind of receipt(s) for his gifts because they would be wanting to get their money in taxes. TRUST me, there not throwing anybody in jail until they get their peice of the pie, so to speak. dont enter into these programs looking to “profit”, you are only offering services to people for the expectation of NOTHING in return. it is ultimately 100% the person’s own decision to gift you money AFTER they have received your services. absoltulely legal and has nothing to do with “gifting laws”.

By: Kelly McCausey

Kelly McCausey — Mon, 10 Nov 2008 16:10:30 +0000

I understand Carrie. But I really do think there are innocents out there who get hurt.

When your sister or best friend or boss tells you that it’s legal, ethical and totally cool – some people just take it at face value and fall right in.

By: Carrie Lauth

Carrie Lauth — Mon, 10 Nov 2008 15:34:26 +0000

I left a comment on your other blog Kelly but the thought popped into my head and I felt I had to say it. I have a hard time feeling as sorry for people who fall for these schemes as you seem to. Because they appeal to greed -money for nothing- it's akin to gambling. I don't feel sorry for people who are "addicted" to gambling because they don't have to ever gamble in the first place and you can't get addicted to an activity you don't engage in! Anyone who falls for one of these schemes has an underlying problem in my opinion, so the $5,000 is a painful lesson. Carrie Lauths last blog post..Did You See Me On MSNBC Last Week?

By: Stephanie

Stephanie — Sun, 09 Nov 2008 21:07:56 +0000

What amazes me more is how often I see people defend these programs on forums. They'll insist that they're legit, even if someone points them right to the page on the FTC website that talks about gifting, or gets into IRS codes on it... they always have some excuse why it doesn't apply to them. Stephanies last blog post..Bake Bread - Free Fun Friday

By: Elizabeth Potts Weinstein

Elizabeth Potts Weinstein — Sat, 08 Nov 2008 16:37:03 +0000

I’m so flabbergasted that people fall for this — of course it’s because they are getting involved based on hope. But this is obviously an illegal ponzi scheme (and the organizers know it, that’s why they are trying to avoid mail fraud laws).

I had a friend/client who took out his life savings and a loan (!!) to invest in a “guaranteed” risk-free 10% return a month. Course, if he had asked me I would have said no way anyone can guarantee 10% risk-free return a month. A month or two later it was shut down by the Feds, he lost all of his money, and he had to declare bankruptcy.

Here’s a rule of thumb — if you are afraid to tell your spouse, parents, business coach, or financial advisor — don’t do it.

Elizabeth Potts Weinsteins last blog post..Ep #65 Turn Your Ideas Into a Money Making Brand