Pyramid Scheme
Every day I see someone that is trying to sell something on a social media website. Not only does it get very annoying, but there is always that thought in the back of my mind; does it really work and can I really make THAT much money? Trends are a way of life for most people. Everyone is trying to find the new thing to do, wear, say, etc. Whether you do it knowingly or subconsciously you have probably followed a new trend one time or another. It is not that you want to be like someone else, but you do not want to fall behind either. Although there are many trends from the things people eat all the way to what they wear the trend that seems to stick out to me the most is pyramid schemes.
“Pyramid scheme: a fraudulent scheme in which the perpetrators recruit people to pay money tp those above them in a hierarchy on the expectation that they will get payments from those below them” (Bing dictionary).
There are two separate types of schemes. Naked and Product- based schemes. A naked scheme is one where no actual product is sold. It happens by a recruiter having however ...
These scams do not look like Ponzi scheme. Hidden scheme are also called pyramid scheme. These schemes are legal and “they often arise when business manipulates their operations to stay afloat when times are tough” (Basu, 2014 p.3). Even though this is a Ponzi they are hard to detect because they are “intertwined with perfectly legitimate activities” (Basu, 2014 p.3). Some “companies and governments indulge from time to time in what is called juggling” (Basu, 2014 p.3). This happen when a company does not what to liquidate a portion of an asset. This can cost the company to pay also more many back to the
The Robber Barons, as they were called, were the kings of American Industry and American Society during the late 1800's and early 1900's. Rich beyond the average man's wildest dreams, these industrialists were often criticized for their philosophies and their ways of making money. Robber Barons can also be viewed as immoral, greedy, and corrupt, and the evidence to support such a view is not difficult to find. Bribery, illegal business practices, and cruelty to workers were not uncommon in this period, and many of the most respected industrialists were also the most feared and hated.
The Bernie Madoff Ponzi Scheme is a well-known case and is known as one of the biggest Ponzi scheme’s. In summary the scheme occurred for many reasons that I will some up into 3 points; A lack in competency by regulatory agencies, a lack of regulation, and finally a breach in ethics by Bernie Madoff himself. To explain further, the regulatory agencies like the lawyers and SEC are supposed to prevent schemes such as this one from happening but because they lacked the skills to correctly assess the situation, interpreting the number of tips they had received regarding scheme that had been filed, and to act on those in an efficient manner. One of the tips was made by Harry Markopolos in 2000, of who correctly predicted that Madoff was guilty of fraud. Even after this tip from Markopolos, Madoff was not arrested until 2009. Many family members were also a part of the fraud along with some non-family members such as Frank DiPascali and a team known as the 17th floor team, who helped Madoff carry out his fraud. The idea behind Madoff’s fraud was that he would produce false statements of their investments and when people wanted to pull out their investments, the money wasn’t actually there, which rightfully rose more than a few eyebrows and ultimately led to his arrest.
Received an A- on this paper, United States History, DePaul University, put almost twenty hours into, most I write in four-five hours, very proud of this piece.
“Money laundering is the process by which one conceals the existence of illegal source, or illegal application of income, and then disguises income to make it appear legitimate”. By the 1970’s, criminal organizations and more specifically, the drug trade began to make profits that attracted the attention of Congress. In 1999, it was estimated that drug trafficking alone produced approximately $48 billion in profits per year to be laundered in U.S. Dollars. These profits could no longer go unnoticed by drug dealers spending it on daily activities such as food, clothes, and entertainment. From a pure logistics standpoint, $48 billion dollars isn’t going to fit under the mattress. Drug dealers were forced to try and blend these profits into legitimate business or pass it through financial institutions in the hope that the money’s origin would become obscured.
One can crawl under any rock and get an education about the inner workings of politics. Skulk around most dark alleys and you can learn how a good confidence game can suck the very lifeblood and fortunes from a "mark" or sucker. However, if one truly appreciates and marvels at watching the veritable masters of all scam artists at work, one need to search no farther than the present-day liberal-progressives and their film-flam-artist-in-chief Barrack Hussein Obama.
Organized crime has always been occupied with a negative label. Perhaps this is due to the constantly changing environment in America as well as the social state of its homeland, Europe. Our society is convinced that the so-called Mafia is a family of pure criminals, pimps, and murderers. Whatever the opinion, there is no doubt that the Mafia played a big part in the history of America and the way Americans view crime today. "The origins of the secret society known as the Mafia are believed to be as old as the 9th century" (Mafia History). During the 9th century, the Mafia's main purpose was to strengthen themselves against enemies, which invaded their homeland in Sicily. It was supposed to create a strong feeling of togetherness between all Sicilians. "This idea of family was carried through in the structure of the organization, which had a strong hierarchical layout" (Mafia History). The Mafia is said by many to have perhaps the best system of power, than any other group or government known today. One can compare a physical representation of the family almost to a family tree dated all the way back through many generations. Certain people operated the system, but without the help of the people with the less power, the Mafia would be very weak. To put it another way, a leader cannot lead without followers, and the followers cannot follow without leaders. This is why the Mafia was hard to overcome. Although when many think of the location of the Mafia, Chicago and New York often come to mind, but actually the Mafia has been traced back through 26 major cites in America. Within every city were many Mafia families each with it?s own government. "At the head of each family stood the Dons or Bosses. Next in line to the Dons was the Underbosses, who were second in command. Followed by the Consigliere or counselors. And last were the men who did the dirty work for the Mob, the Soldiers. The Soldiers were the one?s who would enforce discipline over both members and non-members through the use of intimidation, assaults, and murder" (Living Large 3). All the members of the society were expected to go through a ceremony that often was compared to the baptism ceremony. "The induction ceremony is the most important day of a mobster?s life, the day that they become full members of La Cosa Nostra" (Mafia Life). "The ceremony for the newcomers was som...
Fraud is usually comprehended as deceptive nature calculated for advantage. And usually this kind of people might be called a fraud. According to the U.S. legal system, fraud is a particular offense with specific features. Fraud must be proved by showing that the defendant’s actions involved five separate elements: 1. A false statement of a material fact; 2. Knowledge on the part of the defendant that the statement is untrue; 3. Intent on the part of the defendant to deceive the alleged victim; 4. Justifiable reliance by the alleged victim on the statement; 5. Injury to the alleged victim as a
These three stages are done through very skilful organized, methodical approaches where they mostly target children and teen’s Shopping malls, social events, bus stations, most often it 's simply walking down the street to go to school. The potential so-call employers are their peers and sometimes-family members of these children, their case and welfare workers in these organizations forcing these vulnerable children from group homes and shelters to be exploited by sexually exploited and become sex slaves. The youth Ease and confidentiality of Internet driving exponential growth promise of a job or better life. Adult women are also recruited and lured to/from strip clubs massage parlours, pornography, dating websites and other social networking Internet sites. The second stage is called the means associated with threat or the use of force, coercion, abduction, fraud, deception, and abuse of power or position of vulnerability giving/receiving payments/benefits to achieve consent of a person having control over another person. Then the final stage is the purpose of exploitation; forced labour, sexual exploitation, and domestic servitude known as The Business: individuals who financial gain from the recruitment and sexual exploitation of women and girls. These individuals are often referred as pimps or managers and bond
The world we live in today requires us to be good at whatever career we choose or we are not able to support ourselves. In order to be the best we can be, we usually work hard, practice our chosen field, and put forth all effort needed to make us good at what we do. There are many ways we can choose to support ourselves. Careers are varied and we have many jobs to choose from. With so many opportunities open to people today, it should be easy to select a career that gives you an honest living. We all want to trust others and hope that people are honest. This, wanting to trust, is what some people use in their chosen careers. People who use others in order to gain an income are known as con artists. To con people means to swindle, or cheat, them and being an artist means that one is very skilled at what he does so a con artist is very much capable of cheating others to make a profit.
Pisano, P., Pironti, M. & Rieple, A. (2015) define trends as ‘…a combination of social, technological, psychological and economic features.’ Customers, employees and suppliers corporate in order to create or customize products or services that mirror the market change. These trends can be divided into 2 categories: socioeconomic trends and technological trends.
A Ponzi scheme is a type of fraud called investment fraud. It, “involves the payment of purported returns to existing investors from funds contributed by new investors” (6). Investors are usually promised a high return rate. The fraudsters attract new investors and pay back their old investors with the new investor’s money. Ponzi schemes are named after Charles Ponzi who created scheme by getting residents to invest in a postage stamp scheme. Bernie Madoff is a well known and not well liked Ponzi scheme fraudster. He is currently in federal prison. These types of fraud schemes hurt hundreds or millions of individuals and families.
Most White Collar crimes are committed by organizations which could be corporations or small businesses. White Collar and Organized Crime can endanger the well-being of people across the country. It is one of the more costly crimes in society. White Collar criminals profit from businesses and Organized crime usually profits from illegal businesses and can use violent measures.
Social media is pertinent in use of communication throughout today’s organizations. There are many social media platforms that allow organizations to convey communication to potential consumers, stakeholders and the public. “It is essential for leaders to integrate these technologies and seek the best way to use social media and networks to the advantage of the business” (Billington, 2012, p.1). Business owners find that keeping up with current technology trends is essential in having a competitive advantage in the market place and having a strict set of standards and strategy is important in quickly adapting to social media trends.