Buying into the Pitch to Become Rich
September 16th, 2010In tight economic times, people are all interested in easy ways to escape from their financial crisis. Broadcasted though different sources of media, people are shown to be captured by new schemes that promise large amount of fast cash through high return investments. Investigation was made on a company called BIM (Business in Motion) that claims to provide their members an opportunity to earn thousands in commissions by buying and selling their travel package that promises vacation deals (UltraLife Club). Memberships for $3200 are advertised within the public presentations held by BIM.
In the investigation, it is shown that BIM’s actions are questionable. Is BIM actually selling access to dream vacations or are they primarily profiting from recruitment and new memberships? If the speculations are true, CBC News is identifying this as a pyramid scheme. This is an unethical act that allow the company to gain profit for a limited of time. What seems to be true is that in order for the company to continue profiting and running, new people must continuously join. As shown in the news clip, members will soon recognize the deceptive tactics that the company used and will try to get back what was taken from them.
Article/ Video Clip Link:
http://www.cbc.ca/marketplace/2009/easy_money/main.html