I have been approached to participate in a "gifting activity."
Is this legal? What are the ramifications of participating?
Basically, the process is I send $100 cash or money order by Fed Ex or UPS,
not USPS, and soon will receive back $800. I then send $500 of that money
and get back $4000, etc. until I reach the potential of receiving $40,000, all
off the initial $100 investment.
Sounds fishy and too good to be true.
I want to protect myself and my friends.
The folks who have approached me are friends and are already involved, and
both have already received their $800 back on their $100 investment and are
prepared to take the next step. The organizers claim legality under IRS Tax codes
and obviously are avoiding some Mail Code problems by not using the US Post Office.
Thanks for your assistance.
1 Answer from Attorneys
Re: Gifting Activity
In your own words, "it sounds too good to be true" I can't tell you without some research if it is legal or not, because I don't have enough information on how this is working, what sort of communication is being made, if there are letters, or phone calls involved, etc. But I can tell you that I have never heard of an operation like this that WAS legal. I would suggest you calling the State Attorney Generals office and speak with a staff attorney. But don't get your hopes up......"it sounds too good to be true"
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