06 July 2014

YSLM was another Pyramid Scheme? How it Works?

It was so hot that it appeared in major daily newspaper recently on this YSLM scheme. After a brief checked on it, there are a few funny facts that come across Finance Malaysia mind. For a mere RM300, anyone can start to jump into this so-called business (business of get conned and conning people?).

Let's have a read below:

  1. The "Future Richest Person in the World" !!!
    This would be one of the funniest advertisement in the world. Yes. The founder successfully garner the interest of public and now the authorities as well. Lol. Although he may not become the richest person, he already become the "shameless" person, at least, in Malaysia currently. How to describe him? Brave or over-confident? Did anyone seen Li Ka Shing called himself the "future" richest Chinese before he really achieve it?

  2. People or Product oriented scheme?
    For RM300, you can join them as member and every member he recruits, he will be paid RM50 per person until the 6th level. Beyond the 6th level, the member will have to top up his membership fee to a maximum of RM30,000 to continue enjoying the benefits. Any products involved here? NO... It's all about recruiting people and you got the rewards. This is the fundamental of pyramid scheme !!!

  3. BMWs and Cash within a short period?
    If cash money doesn't attractive to you, then how about BMWs? This is the tactic used to lure investors simply for 2 reasons. Once a member joined the scheme, within a short period, he/she may get a BMW (depending on how many people he/she successfully conned into the scheme). With this luxury car, it will create a huge effects implicating that the scheme was actually works and many people joined are making big bucks.

So, how does it works actually?
Please refer to diagram below:

Anyway, the said scheme already banned in China. Local authorities is going to take down all the billboards. And, where is the founder?

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