Edmonton Pyramid Scheme similar to one in Fort St. John

The RCMP in Edmonton say a pyramid scheme similar to the one in Fort St. John is operating in that area.

 

Recently, the RCMP have been provided information suggesting another Pyramid Scheme exhibiting very similar characteristics to “Women Gifting Women” has been operating again in the greater Edmonton area.

 

It is called “Womens Networking Club.”  The RCMP are again reminding the public that it is illegal to participate in a Pyramid Scheme – there are not only criminal ramifications, but also tax implications should one become involved.

 

The RCMP is concerned that law abiding citizens are being mislead to believe this is not a pyramid scheme because fraudsters organizing the scheme claim that the “networking” or “advertising” structure makes the scheme legal. Regardless of any networking or advertising promotion, if the primary return to participants is due to money paid by recruitment of others it is still a pyramid scheme.

 

Participants are also being misled by claims of legal opinions allegedly received from lawyers, Canadian Revenue Agency employees and police officers. These officials are always referred to in a third person capacity, and appear to provide ample validation of the scheme to new participants. If you are advised of legal opinions, request the name of the lawyer or police officer who has allegedly validated the scheme. Chances are that no such individual will be truthfully identified.

 

The Fort St. John RCMP first reported a similar pyramid scheme operating in Fort St. John back in February.  At last report the RCMP in Fort St. John were looking at holding information sessions only if there was enough demand from the community.

 

With this latest case in Edmonton, the RCMP have also released a document explaining just how these schemes work and why they are illegal.  To view that document click on the attached file.

For more on the Fort St. John Pyramid Scheme Click Here

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