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:
“One must always maintain one’s connection to the past and yet ceaselessly pull away from it. To remain in touch with the past requires a love of memory. To remain in touch with the past requires a constant imaginative effort.”
—Gaston Bachelard (1884–1962)
“The virtue of art lies in detachment, in sequestering one object from the embarrassing variety. Until one thing comes out from the connection of things, there can be enjoyment, contemplation, but no thought.”
—Ralph Waldo Emerson (1803–1882)
“Many famous feet have trod
Sublunary paths, and famous hands have weighed
The strength they have against the strength they need;
And famous lips interrogated God
Concerning franchise in eternity....”
—Philip Larkin (1922–1986)
“There exists in a great part of the Northern people a gloomy diffidence in the moral character of the government. On the broaching of this question, as general expression of despondency, of disbelief that any good will accrue from a remonstrance on an act of fraud and robbery, appeared in those men to whom we naturally turn for aid and counsel. Will the American government steal? Will it lie? Will it kill?—We ask triumphantly.”
—Ralph Waldo Emerson (1803–1882)