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Tv Show American Greed Clarification/ Correction?
editHello there everyone! Big-time fan of con movies and Ponzi scheme documentaries here. I'm watching a repeat episode right now of the CNBC television series known as, American Greed: Scams, Scoundrels, And Suckers. At the intro/onset to their episode about Telexfree, they mentioned it wasn't multi-level marketing MLM, because those are backed by a real and very successful product nearly always (example, Amway). The television show said that Telexfree was most definitely a pyramid scheme. As such, isn't it a little surprising that the opening paragraph for this Wikipedia article calls this company a Ponzi scheme ... And doesn't mention "pyramid scheme" until the opening paragraph's last sentence?! Vid2vid (talk) 07:19, 30 May 2019 (UTC)
>TelexFree is a multi-faceted scam and it's difficult to put a single label on it. TelexFree is generally considered a Ponzi scheme because of its AdCentral scheme. The participants pay a membership fee $299 for "AdCentral" which allows them to act as advertising agent for TelexFree: by spamming a link with a referral code SOMEWHERE on the Internet each day. And if you do this 7 days in a row, you get $20 back. So potentially, you pay $299, spam one link for 365 days, you get $1040 per year back.
But Telexfree ALSO pays referral commission for each member who buys AdCentral package.
There is a separate commission structure for selling the phone plan itself, in a multilevel manner as well.
So it's BOTH a Ponzi scheme and a Pyramid scheme.