I think that you have been grossly misinformed about my knowledge of jewelWay. One of the top representatives in the company came down and gave me a two-hour presentation and tried to convince me of its great merits. After studying it very very carefully I was convinced that it is a very dangerous pyramid scheme and many people will come out the losers. Jews have no right to get rich by scamming and deceiving others! Unfortunately it seems that you have become blinded by the offers of some easy money and have been suckered in by their lucrative deal. I have studied ponzi and pyramid scams for many years and I am no newcomer to them in fact I know them too well. I have seen enough smart Jews lose lots of money to these clever operators and I will not remain silent despite the death threats I have received from those who are on top of this pyramid scam and are angry at me for exposing the truth. I can not believe that a person with proper business ethics, morals and yiras shomayim would be involved in such a cheat. I hope that the explanation that I have sent you will enlighten you as to my reasoning. If you have any questions you can always call me at 718-633-1909.
Rabbi Eli Teitelbaum
P.S. Your math is all good and fine except for your very last line which says that you need 512 years to sell the product to 60,000,00 people. I suggest you go over this matter with your accountant and I’m certain he will straighten your math out. At what rate does your chain grow.? If there are already 117,187 distributors around the world and each one of them only gets two more each month than simple math will show you that within a year you will exceed the worlds population. So where did you get the 512-year figure?
By the way, do you really think that the entire population of England will fall prey for this pyramid scheme? Statistics have proven that less than 15% of the population falls for this “fools gold”.
The recent collapse of Albania due to a ponzi scam shows how easy it is to convince even clever people to invest their hard earned money “in a balloon that’s filled with lots of hot air”. The recent “Shick” ponzi scam shows that it can entrap even the intelligent worldly businessman. Their success is based on the fact that a fool is born every minute! Beware of all promises of easy money or high returns, since for the most part they are nothing but “fools gold”.
Out of desperation to make some money they will stop at nothing to convince even their best friends and family members to buy in. They prey on the desperate, naive and the greedy. Fraudulent claims and deception are common place. To the point that some of them even claim that a) even I have changed my mind after being shown a presentation and now believe that it is an excellent opportunity, or b) I never saw a presentation and therefore don’t know what its all about. Obviously both claims are outright lies and are being used to fool the public into buying in.
Many also claim that they have spoken to Rabbi Belsky and he has also given his consent. Another outright distortion.
They greatly overestimate the potential earnings by pointing out those on top and claiming that if you put in lots of time and energy, you too can do the same! Nonsense! Lies! The farther down the chain you are the less potential of making money and the harder it becomes to recruit new suckers below you.
The company itself clearly states that the average earnings of someone that was with the company for one year is only $2000! Then they tell people that this is only because many people don’t try hard enough or don’t spend enough time at it. It you try hard and put in lots of time than you can earn much more. This is an outright lie and misrepresentation. The farther down line you are the harder it is to find additional suckers to join. No product in the world can have an unlimited amount of distributors with all of them still making money. If it worked, then every company in the world would use the same trick to sell their product. What you say makes no sense whatsoever! It’s all a bunch of Purim Torah. Pyramid schemes are as old as Mesushelach and eventually topple and collapse like a house of cards.