Global Pension Plan

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Posted: Thu Dec 18, 2008 8:32 am

Anyone familiar with something called "Global Pension Plan"? It appears to be a rather advanced scam.. It has been around scandinavia for a few years and it seems that quite a few people have signed up.

It works like this: you register and pay a small fee ( 30 euro ). When the program reaches 100.000 members a secret "financier" will appear and dish out a lot of money ( something like 20k euro ). The "logic" behind this is that each member will sign up for an "endowment policy" which will dramatically increase in value once the person reaches 67 or something similar.

... ofcourse all this is crap. The reason why it has had a lot of success is probably because it is run like a classic "pyramid scheme" which means that each maga can earn extra money by recruting other magas. Very effective!

So: anyone have any ideas on how to hurt these lads??

Posted: Thu Dec 18, 2008 8:41 am

A classic Ponzi scheme...

I don't know if it would really be baitable but I'd be happy to be wrong about that!

Posted: Thu Dec 18, 2008 8:52 am

Is that the global pension plan run by a certain mr. Madoff? Very Happy

It has been in the news a few times lately... and it has been very effective I understand...

Don't know it the Lads are reading the Financial Times regularly, if so you could maybe use the story to stall your payments to them... Razz

Posted: Thu Dec 18, 2008 9:28 am

http://www.internationalpassiveincome.com/Reverse_Pension_Plans.html

some information.. scroll down.

Trophy Videos · Posted: Thu Dec 18, 2008 1:09 pm

@Ladbuster - Maybe the best way to hurt them is to shutdown their websites. Can this be done with ponzis? Confused

This whole site is jam-packed with dodgy websites, with servers all over the world. Gee. I wonder if this little disclaimer protects them from shutdown:

Quote:

NOTE: This site is intended for educational purposes only and the information provided should not be construed as offering advice or an inducement to join any of the featured programs. The decision to join any program is yours alone and due of the high yield/high risk nature of many of today's internet-based programs, it is important that any funds placed are funds that you can afford to lose. The statistics quoted for some of the featured programs are those obtained by the owner of this site and are provided only as an illustration of what can be achieved, rather than what each member can necessarily expect.

Posted: Thu Dec 18, 2008 1:41 pm

Well if any of the sites are in or appear to be representing *cough* investments in the UK, then that disclaimer wouldn't protect them from the FSA.

Posted: Sat Dec 20, 2008 12:42 pm

it is probably pretty hard if not impossible to act on these people.. a lot of the work - websites etc - are also run by the magas that been suckered into this. It is highly efficient since it is all run by magas all over europe with some slick people collecting at another location.