Carl Posted October 29, 2008 Share Posted October 29, 2008 A colleague of mine has been ranting on about this money triangle. The triangle is on 4 layers, bottom row of 8, then a row of 4, row of 2 and the top. Each new person who enters into the triangle pays £3000 and must find a further two people to put in £3000 each. Once you get your two people, you move up a layer. This goes on, and as the people below you find there two people they move up the triangle and in turn you go up untill you reach the top. Once at the top you recieve the £23,000 cash. As long as people keep joining the triangle, then the chain just keeps moving up and then if required back to the bottom and around for another go. The £3000 limit is just below the taxable amount so it is classed as a gift. effectively, once you hit the top the 8 people are giving you a £3000 each gift, hence bypassing any tax. The remaining £1000 gets passed down the triangle on meetings, buffets, drink, raffles etc. I am very sceptical about these things and personaly wont be entering it as for starters I dont have £3000 to risk anyway but I was wondering if anyone else has come across such a money triangle. On the face of it, it will work providing the triangle does not break down. carl Quote Link to comment Share on other sites More sharing options...
Dave17 Posted October 29, 2008 Share Posted October 29, 2008 Is this not illegal? Quote Link to comment Share on other sites More sharing options...
SteveR Posted October 29, 2008 Share Posted October 29, 2008 Pyramid schemes?!? Illegal and bollox, basically. http://en.wikipedia.org/wiki/Pyramid_scheme A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, without any product or service being delivered. It has been known to come under many guises. Pyramid schemes are illegal in many countries, including the United States, the United Kingdom, France, Germany, Canada, Malaysia, Norway, Australia, New Zealand, Japan, Nepal, Sri Lanka, Thailand and Iran. These types of schemes have existed for at least a century. No matter how large the model becomes before collapse, approximately 88% of all people will lose. Quote Link to comment Share on other sites More sharing options...
Jamesy W Posted October 29, 2008 Share Posted October 29, 2008 No offence meant, but I think if things like this worked, we'd all be millionaires. Quote Link to comment Share on other sites More sharing options...
Carl Posted October 29, 2008 Author Share Posted October 29, 2008 In what way are they illegal. Everyone willingly gives up there £3000 in blind faith that they will end up with the £23,000. Quote Link to comment Share on other sites More sharing options...
SteveR Posted October 29, 2008 Share Posted October 29, 2008 Dude, seriously. If this is the first time you've heard of such a scheme, I have a box of very rare, very valueable left-handed screwdrivers and a handful of bubbles for spirit levels here I could flog you, if you'll buy some of my patented snake oil as well. Interested? Quote Link to comment Share on other sites More sharing options...
Carl Posted October 29, 2008 Author Share Posted October 29, 2008 No offence meant, but I think if things like this worked, we'd all be millionaires. I agree mate, I am a firm believer that if something sounds too good to be true, it probably is. Besides that, I could not bring myself to just give away £300o of my hard earner cash on blind faith in a system I have no controll over. Even worse, the two other people you bring in, possibly your family or friends who will hold you to blame if it all falls foul. Carl Quote Link to comment Share on other sites More sharing options...
Carl Posted October 29, 2008 Author Share Posted October 29, 2008 Dude, seriously. If this is the first time you've heard of such a scheme, I have a box of very rare, very valueable left-handed screwdrivers and a handful of bubbles for spirit levels here I could flog you, if you'll buy some of my patented snake oil as well. Interested? I think your miss-understanding me Steve. I have not heard of these triangles before and nor would I enter into such a thing. I merely wondered if anyone else had heard of them hence my post. ps-I have heard of Sky hooks and long weights to. Quote Link to comment Share on other sites More sharing options...
Mike Posted October 29, 2008 Share Posted October 29, 2008 The scourge of the working classes. Quote Link to comment Share on other sites More sharing options...
Dave17 Posted October 29, 2008 Share Posted October 29, 2008 Damn, i wanted to sell him my Tartan Paint, and i was going to ask him to go get a long wait as well. Humbug! Quote Link to comment Share on other sites More sharing options...
Jamesy W Posted October 29, 2008 Share Posted October 29, 2008 It sounds to me that your work colleague has been pumped for £3000 and he is trying to butter you up. Quote Link to comment Share on other sites More sharing options...
Carl Posted October 29, 2008 Author Share Posted October 29, 2008 probably right although its never going to happen. I would feel sorry for him but he's actually a clever degree graduate so I guess he should no bettter. Quote Link to comment Share on other sites More sharing options...
Tom Posted October 29, 2008 Share Posted October 29, 2008 really suprised you havent heard of these before are you interested in time share? Quote Link to comment Share on other sites More sharing options...
Guest bodger2003 Posted October 29, 2008 Share Posted October 29, 2008 wales was hit by these cons a few years back dont do it you will lose ur money garanteed Quote Link to comment Share on other sites More sharing options...
Dave17 Posted October 29, 2008 Share Posted October 29, 2008 Only 88% guaranteed Quote Link to comment Share on other sites More sharing options...
Jamesy W Posted October 29, 2008 Share Posted October 29, 2008 probably right although its never going to happen. I would feel sorry for him but he's actually a clever degree graduate so I guess he should no bettter. That just means he is probably more gullible Quote Link to comment Share on other sites More sharing options...
Carl Posted October 29, 2008 Author Share Posted October 29, 2008 That just means he is probably more gullible Granted, most of the degree Engineers in my department have a serious lack of common sense. Quote Link to comment Share on other sites More sharing options...
Lbm Posted October 29, 2008 Share Posted October 29, 2008 People up and down the country have garages or loft space full of stuff they'd bought in the hope of "introducing a friend" and shifting some of the gear down through the chain. "This time next year- we'll be milljionaires- Rodney!" Water filters was a thing in the late 80's early & 90's that caught two of my friends out. Quote Link to comment Share on other sites More sharing options...
Jake Posted October 29, 2008 Share Posted October 29, 2008 Each new person who enters into the triangle pays £3000 and must find a further two people to put in £3000 each. Once you get your two people, you move up a layer.Instead of paying your mate 3k, just start your own triangle for free. Once you have found the two people to pay you 3k each you'll be off and running. Quote Link to comment Share on other sites More sharing options...
Carl Posted October 29, 2008 Author Share Posted October 29, 2008 Instead of paying your mate 3k, just start your own triangle for free. Once you have found the two people to pay you 3k each you'll be off and running. That would certainly make more sense to me jake. However, I think this whole thread is going off topic. I started this thread to ask if people had heard of this triangle? I am interested to here opinions and of others that may have been juped into something like this or else heard of others that have. I’m also interest to hear about the legality of such schemes and what makes it legal/illegal. This is a genuine interest more out of curiosity for a colleague that has partaken. As mentioned, I don’t have any intention myself of entering into such a scheme. Seriously guys, I am well aware of the huge amount of talent & wit this forum holds but I was genuinely after sensible answers regarding these triangles. Quote Link to comment Share on other sites More sharing options...
DaveK Posted October 29, 2008 Share Posted October 29, 2008 The only sensible answer you're likely to get is that gullible people try them, and most don't ever see their money back. There isn't very much else to say. Which I'm pretty sure is the reason they are illegal. When they were "popular" all sorts of promises were made about how much money you would make. Quote Link to comment Share on other sites More sharing options...
Mike Posted October 29, 2008 Share Posted October 29, 2008 Sir, on this issue I find you to be a mentalist. How have you never heard of possibly the most famous scam of all time? This one predates the Internet. It's a loser. Can anyone else phrase that more clearly please? Quote Link to comment Share on other sites More sharing options...
Mike Posted October 29, 2008 Share Posted October 29, 2008 Check it out. Quote Link to comment Share on other sites More sharing options...
CardiffSupra Posted October 29, 2008 Share Posted October 29, 2008 A mate of time has done one of these, Sounds the same as your one. A mate of his has put in his 3k and he did get 11k back. So now my mate and 4 of his mates have all put in 3k each. But the Pyramid has to come to an end some time, I havn't seen him for a long time, He probs won't see his money again. He said something about it being run through a charity so it wasn't illegal. Quote Link to comment Share on other sites More sharing options...
Carl Posted October 29, 2008 Author Share Posted October 29, 2008 Check it out. Thanks, that explains it clearly. Very helpfull. Ill print that off and show my mate this. Quote Link to comment Share on other sites More sharing options...
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