Bermuda Connection to YTB
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Alex Wright writes, at the Royal Gazette, about the Bermuda connection with YTB:
"Hundreds of Bermudians who signed up to YourTravelBiz.com (YTB) with the dream of making a fast buck could be set to lose out after California Attorney General Edmund Brown filed a lawsuit to shut down the travel website.
In a statement on the State of California's Office of the Attorney General webpage, Mr. Brown alleged that YTB operated a "gigantic pyramid scheme" that recruited tens of thousands of members with deceptive claims that members could earn huge sums of money through its online travel agencies.
Former United Bermuda Party leader Wayne Furbert, who set up his own affiliated business last year, was at YTB's US national convention in St. Louis yesterday, along with 20,000 people, including 44 Bermudians."
It is worthwhile to review a comment left on my site, when I argued that YTB was a pyramid scheme, in January 2008.
"See, there are legal and illegal and the simple question to ask is this?
Is there a product or service being offered and sold?
YTB Sells travel and they sell lots of travel....source....226 million of travel.
http://www.theytb.com/how_much-travel-did-ytb-sell-in-2006/
Illegal pyramid schemes have been determined to offer NO service or product. If there is no value, then it is illegal.
In summary, many things in our universe are pyramids, the real question is which ones are you part of?"
This is a great pitch - because anyone can see that YTB "offers" some services or products.
Of course the pitch is false. But the marks have already been given a justification that they can jump at.
There are no legal pyramid schemes - when recruiting others so that they will recruit others is the primary attraction of a scheme, then you just might be a pyramid.
