Type of a scam Investment
The contact will be made through a friend, or a friend of a friend, etc. They will ask you to attend a "meeting", usually made up of the individual who is contacting you, acquaintances, and strangers. The initial funding request will be $5000 with the promise of $40,000 when you reach the "top" of the list. This "list" is an illegal pyramid scheme disguised as a gifting that as you add to the circle of friends or recruits into The Cloud, as it’s sometimes described you will move toward the top and the ultimate "gifting". Under Section 206 and 207 of the Criminal Code of Canada this format of quick cash scheme is deemed illegal. Other names: Pay It Forward groups. The contact and/or group discussion will include claims to be complying with the CRA, laws regarding soliciting, banking laws, and they claim to have "Treasurers". A total scam. Don’t fall for it. Groups are made up of both men and women.