On the 21st or January, 2008, i was approached via instant message from a gentleman i didn't know, about Financial Destination Inc.. He explained to me about repairing my credit and the hardships facing the economy today. He told me about the company and how it could help me repair my credit so that i could get a home of my own even in todays market with the sub-prime mortgages. I told him i was going to have to do some research on this company as i have been scammed before through companies like Am Way and was not about to let it happen again. He agreed and we talked many times after that, joking usually but always keeping in contact. I stressed that we wanted to check out the business for ourselves by paying for 6 months to 1 year upfront. He said they don't allow that. I stressed that this would be the only way to bring in my family or friends because they're going to ask me what i think and if I've made any improvements. He stressed we would need to make a list of people, while my idea was a good one, the money would come back to me if i had people under me.
Ten days later i noticed that he was leaving messages in my 360 blog stating that my idea of getting into the business was good but he was wanting me to give him a list of 30-40 people. 30 to 40 people!! That's ridiculous and that's when i knew that this is a pyramid scheme. Maybe it's just my opinion but i went and scoured the internet and found the following information about Pyramid schemes and have enclosed them for you to give your input on. Before you pass any judgement, please note that Pyramid Schemes are illegal in the united States of America due to the significant amount of losses sustained to those being taken.
Here is the link to Financial Destination Inc.
Here are the two types of pyramid Schemes that i found that fit this company.
Pyramid sales scheme: "For the purposes of this Law, the term 'pyramid sales scheme' refers to a plan or organization designed for merchandise or service propagation or sales, the participants in which can obtain, for a certain consideration, the rights of promoting or selling merchandise or services, as well as the right to introduce new participants, thereby obtaining commissions, bonuses or other economic benefits. The 'certain consideration' referred to . . . shall be an amount of money, a purchase of merchandise, a contribution of labor, or the incurrence of obligations" (Taiwan law). Pyramid sales schemes (now illegal in the US) go back at least to the 1890's, and boomed in the early 1930's. An early personal letter reveals the personal impact of pyramid sales
Pyramid scheme (n tier): An illegal financial scheme in which: (1) participants are recruited by chain letter, by friends, or at meetings, (2) a list of names is displayed or distributed (often sold) to new participants, and (3) the payment of an "ante" to the top name on the list by new participants is notarized or supervised. Developed from money chain letters in May 1935.
We should all contact our Attorney Generals and let them know about this company. Together we can spread the word that this company is only making money if you RECRUIT people under you and THAT'S ILLEGAL!