Tuesday, April 19, 2011

Consumer New Namibia explains why TVI Express is a pyramid scheme

Schematic description of the expasion of the e...Image via WikipediaConsumer News of Namibia made its own inquiries and interviewed Bank of Namibia's spokesperson regarding the TVI Express issue. Here's their opinion:
After days of investigating, we have found that TVI Express is indeed a pyramid scheme. A pyramid scheme is an illegal practice characterised by a few individuals at the top of the structure who entice others to participate in the scheme by paying a stipulated fee. In turn, these participants recruit others who all pay a fee to join. The primary distinction of a pyramid scheme is that there are no physical products or real services being made. The only sales are when new members pay the said fee. Given that the only real sales of TVI are the recruitment fees we found this to be a classic pyramid scheme. 
It was very nice of them to cite one of my articles. Thank you, Consumer News.


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