Dear Sir or to whom it may concern,
I am a law abiding citizen from the San Francisco Bay Area. I am also involved in my local neighborhood watch and have an interest in law enforcement. I am a caretaker of my elderly Mother full time and therefore need to start a home based opportunity. The question I have is about an activity I am interested in becoming involved in. I have done quite a bit of research and investigations and have come to the conclusion that it may be a feasible way to change our financial situation. I noticed that thousands are involved in this activity worldwide and that is helping many from the dire economic situation that we are enduring.
It is called "The People's Program". It is legally structured, product driven, hybrid
, residual "cash gifting" program. It is about people helping people. And in these very tough economic times has been a God send to many that are involved I find. They have weekly webinars and prospecting calls that are very informative and helpful. They are very careful in maintaining the integrity of the program, and the law as it pertains to cash gifting.
And they strictly enforce the terminology used within the program. Such as "It is not a business
, nor an investment
It is definitely not a scam, nor a "Ponzi", Definition: A Ponzi scheme is a fraudulent investment operation that pays returns to it's investors from their own money or money paid by subsequent investors rather than from actual profit earned. A Ponzi scheme usually offers returns that other investments cannot guarantee in order to entice new investors, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors in order to keep the scheme going.
The system is destined to collapse because the earnings, if any at all, are less than the payments. Usually, the scheme is interrupted by the legal authorities before it collapses because a Ponzi scheme is suspected and since the promoter is selling the unregistered securities. And as more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.
I also notice that there is a lot of negativity connected with these types of programs though. Mostly from past improperly structured and loosely configured programs. Many are called "endless chain schemes".
This is not the usual, fly by night cash gifting program and there is nothing on the FTC web site, or for that matter on the Office Of The Attorney General site. And I believe most of the negativity is derived from the past, improperly structured programs, and gave "cash gifting" a bad name. I would completely uphold the laws, and as far as reporting to the IRS, all proceeds generated from the activity.
I would like your advice, and input as to the program ( If you've ever heard of it ) and if I should pursue this endeavor. Or should I contact an attorney concerning this matter. Any suggestions would be greatly appreciated.