Connection To Franchise Fraud
Franchise fraud (or 'franchise churning') is defined by the U.S. Federal Bureau of Investigation as a pyramid scheme. The FBI website states:
- pyramid schemes :—also referred to as franchise fraud or chain referral schemes—are marketing and investment frauds in which an individual is offered a distributorship or franchise to market a particular product. The real profit is earned, not by the sale of the product, but by the sale of new distributorships. Emphasis on selling franchises rather than the product eventually leads to a point where the supply of potential investors is exhausted and the pyramid collapses.
One of Pearlasia Gamboa’s (president of the micronation of Melchizedek) franchise fraud schemes was described by the Italian newspaper La Repubblica as “one of the most diabolical international scams ever devised in recent years.”
Read more about this topic: Pyramid Scheme
Famous quotes containing the words connection to, connection, franchise and/or fraud:
“It may comfort you to know that if your child reaches the age of eleven or twelve and you have a good bond or relationship, no matter how dramatic adolescence becomes, you children will probably turn out all right and want some form of connection to you in adulthood.”
—Charlotte Davis Kasl (20th century)
“Children of the same family, the same blood, with the same first associations and habits, have some means of enjoyment in their power, which no subsequent connections can supply; and it must be by a long and unnatural estrangement, by a divorce which no subsequent connection can justify, if such precious remains of the earliest attachments are ever entirely outlived.”
—Jane Austen (1775–1817)
“To-day women constitute the only class of sane people excluded from the franchise ...”
—Mary Putnam Jacobi (1842–1906)
“He saw, he wish’d, and to the prize aspir’d.
Resolv’d to win, he meditates the way,
By force to ravish, or by fraud betray;
For when success a lover’s toil attends,
Few ask, if fraud or force attain’d his ends.”
—Alexander Pope (1688–1744)