I just found this.
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StormPay and 12DP - Georgia's Governor's Office of Consumer Affairs - Press Release
http://consumer.georgia.gov/00/article/0,2086,5426814_38709348_49327187,00.html
Pyramid Schemes Never Die; Just Evolve
Issued February 8, 2006
Joe Doyle, Administrator of The Governor’s Office of Consumer Affairs (OCA) is warning consumers of a potentially fraudulent Internet scam known as autosurfing. Recent reports to OCA have indicated an upswing in this new type of pyramid scheme. Autosurfing programs promise consumers a large profit in a short amount of time, with little to no effort required. According to reports from the ABC affiliate (ABC4) in Salt Lake City, Utah, 12DailyPro, a company in which many Georgians have invested, may be the most recent example. ABC4 reports that this is a multimillion dollar internet auto-surf company that is apparently no longer in business but has 300,000 members worldwide who cannot access their investment funds. The firm that handles the payments for 12DailyPro, StormPay has frozen the accounts and its owner has said that the money presently in the accounts will not cover the requests for refunds.
These schemes offer consumers an opportunity to earn up to a 144% return in just days on the money they invest in the program. Initially, an autosurf program assigns about a dozen websites to the consumer at no cost. The consumer visits these websites on a daily basis, logging a hit on the website with each visit. By doing this, the consumer earns a small amount of money. However to maximize earnings, the consumer must pay money for additional websites to surf. Confident in their initial experience by earning money on the websites assigned to them at no cost, the consumer invests more and more in additional websites to gain a greater return on their investments. Testimonials by the first investors attract new investors, who begin to invest their money in the program. In pyramid schemes, the money being paid out to first investors is the money being paid in by new investors.
Inevitably, the program reaches a point where more money is owed to existing investors than is being brought into the program by new investors. Because no substantial source of revenue exists other than money coming in from investors, the pyramid scheme collapses shortly after they begin and participants lose all of the money they have invested in the program. Unfortunately, this is when the investors call law enforcement authorities and it is too late. Doyle said “As the saying often goes, if it sounds too good to be true, then it probably is.” All consumers need to closely and objectively examine any money-making opportunity before investing.
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