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Image: Indranil Aditya/NurPhoto via Getty Images The deputy governor of India's central bank has likened cryptocurrency to a Ponzi scheme and called for the digital asset to be banned in the country. "Cryptocurrencies are very much like a speculative or gambling contract working like a Ponzi scheme. In fact, it has been argued that the original scheme devised by Charles Ponzi in 1920 is better than cryptocurrencies from a social perspective," said Reserve Bank of India deputy governor Shri Rabi Sankar, who gave an address to the Indian Banks Association earlier this week. Expressing his concern regarding the hype surrounding cryptocurrency in India, Sankar said a ban would be more effective in protecting Indians than any attempt to regulate the digital asset. Sankar's criticism of cryptocurrency is in stark contrast to the Indian government's public position on ...

[unable to retrieve full-text content] Yes, participating in a social media gift exchange can get you into legal trouble    VERIFYThis.com

What Is a High-Yield Investment Program (HYIP)? A high-yield investment program (HYIP) is a fraudulent investment scheme that purports to deliver extraordinarily high returns on investment. HYIPs often advertise yields of more than 100% per year in order to lure in victims and regularly use new investors' money to pay off older investors. They are not to be confused with a legitimate high-yield bond investment, which offers higher than investment-grade interest rates. Key Takeaways A high-yield investment program (HYIP) is a fraudulent investment scheme that purports to deliver extraordinarily high returns, in excess of 100%, on investment. Most HYIPs are Ponzi schemes where the organizers take money from new investors to pay returns to established investors.  HYIPs, often known as "prime bank scams," typically involve the alleged trading or issuance of "prime" bank financial instruments and may include references to prim...

Like Beachbody, insurance MLM firm Primerica is a legitimate and long-established company. But as the Duford Insurance Group points out, people often assume it's a scam because of the company's long history of using high-pressure MLM sales and recruiting as its primary business model. Like Beachbody's fitness coaches, most recruits join Primerica with no background in insurance whatsoever, yet they face intense pressure to sell complicated insurance products quickly. They face even more pressure to recruit downline and offer the same "opportunity" to new people. That's the only real way to make real money, which almost none of its reps do. When Primerica went public in 2010, Business Insider wrote an article with the headline: "Meet Primerica, the Wall Street IPO That's Really A Multi-Level Marketing Scheme." The company has faced multiple lawsuits in the ensuing years. Primerica was the reason that the Anti-MLM Co...

Marketing practices that utilize this model yield a variety of benefits to the end user. One such method involves selling products through others, which ultimately leads to others acquiring the same products. As long as the plan is not constitutionally prohibited, these types of marketing may go into effect in Canada. Table of contents Is A Multi-Level Marketing Company Illegal? A multi-level marketing arrangement is legal, long as it complies with disclosure laws and provides customers with an actual product, as we discussed in detail in the preceding section. It is possible to make money from multilevel marketing in a short amount of time, but you can also run into legal troubles and financial headaches. Are Mlms Illegal Anywhere? According to the UK Serious Fraud Office, MLM companies are illegal in some jurisdictions as a form of a traditional pyramid scheme – including in China. A lot of illegal pyramid schemes masquerade as MLM companies where MLM companie...

People who lost money to an investment training and education firm called 'Online Trading Academy (OTA)' will soon see refund checks of more than more than $5.4 million. The US Federal Trade Commission today said the checks will be sent to 31,144 subscribers as a result of the settlement deal reached between the watchdog and OTA's founder and CEO, Eyal Shachar. Online Trading Academy also agreed to offer debt forgiveness to thousands of consumers who purchased its training programs. As part of the settlement,  Shachar and other employees will pay between $5 and $9.1 million and turn over assets. The FTC added that it expects the total penalties to reach more than $10 million. However, the original settlement included a monetary judgment of $362 million, which was partially suspended due to the defendants' inability to pay. The California-based entity, headed by former Israeli intelligence officer Eyal Shachar, organized training and interactive workshops on inv...

If you want to earn extra money each month, watching video ads online can be a good option. Yes, you read it right. You can make money watching ads. And the best thing is you don't have to make any initial investment to get started. With your smartphone and data connection, you're good to go. This article will unpack everything you should know about how to make money watching ads. And you will also learn ways to maximize your earning from watching ads. Without further ado, let's dive in : 10 Ways to Earn Money by Watching Ads Making money watching ads can be easy. But you need to keep your expectations of earning money grounded. This is because watching advertisements cannot help you earn real money to quit your job or business. However, watching videos online in your spare time can be an excellent way to save money for your favorite gadget or romantic dinner. You can also make money listening to music and find out how to make money with photography while you are at it. Her...