By Paul
Some of our readers might have heard of the web based pyramid scheme involving a company called SkyBiz:
One SkyBiz presentation claimed, "This system was put together by a gentleman named Eric Rasmussen who basically joined SkyBiz and six months later was able to retire with an income of about 400,000 a month. Currently, [he] lives in the Gold Coast of Australia and he's making 76,000 a week and growing…They provided CD-Roms, computer disks, videos and books promoting the SkyBiz programs and they provide a PowerPoint presentation on their website that can be downloaded to aid in recruiting new members. The cost to join the SkyBiz Program is $125, ostensibly used to buy an "e-Commerce Web Pak," but in reality was to purchase the right to receive compensation for recruiting additional participants. Participants were urged to invest in more than one "Web Pak," to maximize their earning potential.
Now it seems the SkyBiz has been born-again in the Middle-East and Asia by the name of a company called BizNas. From Maldives, Sri Lanka to United Arab Emirates, people are being fooled to buy their package and are being promised commissions if they recruit additional participants. It sounds too good to be true.
The Securities and Exchange Commission of Pakistan has web notice declaring the winding up of the company BizNas.com Pakistan (Pvt). It was also involved in a similar multi-level web based marketing scheme, offering public to purchase its membership card at US $99, and in return giving different packages of learning and facility of web hosting. Here is more of ‘Biznas.com’ rip off in the Indian Subcontinent. The problem in poor countries is that there are no consumer protection agencies and people can be ripped off easily.
Here is an excellent little book (Little black book of scams) issued by Office of Fair Trading Australia. Here is another creative pyramid scheme which tried targeting women.
I think that the problem of fraud in "poor countries" (like Russia) is not that the people don't have consumer protection legislation and government agencies (although they don't), but that the poor have too little experience with this particular type of fraud; it's not the case that the poor don't know fraud at all, just not the get-rich-quick type.
After all, (relatively educated and wealthy) Americans who succumb to Nigerian email scams are protected by consumer agencies; it is their own ignorance and greed that lead to them being successfully scammed. Not much can be done by governments to stop people from being fools.
erik rasmussen is my dad and has left my mom and went to austrailia i am now learnign about this and im angry and pissed!
Comment by Chris Rasmussen at January 8, 2005 12:58 PM | PermalinkMy personal point of view is that the artical written above is written in haste so It need to be revised. BizNas is providing Information Technology to the people in different parts of the world. So There is example quoted about SkyBiz.com but evry finger of Ur hand is not the same one.
Thanx.
I am very worried about this biznas.com's work here in our country:Maldives. the fever of investing in this pyramid is catching up, even those who can not pay there telephone, electricity bills are trying to invest in this simply because of the return that they are been promised.the sad thing is in our country we do not have any customer protection policies in action.
Comment by hussain at February 16, 2005 05:04 AM | PermalinkI have participate in one of one of reunion of this BizNas company and i'm so good in math so from the first moment i saw that is a fraude pelease forgive me beacause my english is too bad but i'm from tunisa and this company has open a BCO in our capital and there are too many victim i hope that i'll help him
Comment by Dali2k at March 12, 2005 07:43 PM | PermalinkHave anyone of you seen a BizNas presentation. If not how can anyone say this is pyramid scheme or this is like skybiz. You better understand this and give a comment about anything. Every thing have both sides. Anything can harm anyone if its miss used. Knife is a very sharp thing which can kill people. But, because it is sharp should we stop importing it?. So better understand and decide if BizNas is good or bad. Contact me if you want see a presentation. All comments are welcome : farish@avasmail.com.mv
Comment by Ahmed Farish at April 27, 2005 06:06 AM | PermalinkFarish: BizNas is a pyramid scheme. The only money that comes into it is from people coming into the pyramid (like you.) When more and more people join under you, you will get more and more money (just a little bit of what they pay to get in).
Forget the psycho-babble of the presentation. You are in it because you are greedy, and want to get rich without having to work to create any new wealth. Sell it to as many people as you can. And keep on pressuring them to sell to more. Have a leg or two move into another country. You won't have any trouble selling it, because for most people greed outweighs intelligence, and they won't want to miss out on a get-rich-quick scheme like this. You will be a multi-millionaire soon.
Now repeat after me: BizNas is a pyramid scheme. BizNas is a pyramid scheme. BizNas is a pyramid scheme.
BizNas is a great Network Marketing company i have worked with for the past 8 months. i've read about pyramid schemes and network marketingin detail. BizNas uses clearly explained income plans; Bonus,Unilevel and Binary. I dont blame the ignorant for being sceptical. Nothing good succeeds without challenges. Belief and understanding is invidual, you either take opportunity or leave it. Thank you for your time. get more info bout something before you can critisize it. Reference: www.biznas.com
God Bless.
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