Scams - Global Prosperity
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Global Prosperity Group is a three-layered multi –level marketing system founded by a scam artist named Keith Anderson formerly of Tulsa, Oklahoma. It enjoys a dubious reputation of having conned several thousand people over the years. In spite of being shut down in the late 1990s, it has made reappearance in various forms like Global Prosperity 2000 (GPG2000), Global Prosperity 2001 (GPG2001), Investors Alliance, Financial Legacy Alliance, and others.
Anderson just formed a bogus three-tiered trust system, drawing from various discredited tax protester theories and common law terms he picked up from Black’s Law Dictionary. He then heavily promoted this system by creating different tiers of membership in the company with people awarded only when they or someone in their downline brought in a new member who purchased the GPG materials. The focus of the business was in reading scripts over the phone to new prospects and audiotapes and other glossy materials. In spite of this the system prospered into thousands of completely worthless trusts in the early 1990s. In the various seminars, Keith Anderson explains how a person could set up trusts and hide one’s income from the I.R.S. A new member gets enamored and enrolls for other seminars. He is promised mentorship and gradually elevated to the higher levels in the system as he enrolls more members.
As the system grew many members enrolled people into bank debenture roll programs, historical bonds, and other fraudulent investments, where the investors did not get any money back. Many of these schemes were later busted up the SEC, and the rest simply did not pay the investors back their hard-earned money.
Global Prosperity Group finally shut shop in 1997. Most of its members were left holding nothing but lost investments and the prospects of prison for tax evasion. However, it came back with a bang in the form of various false programs under grand names, but following the same formula. These splinter groups were into the sale of phony trusts and other doubtful legal structures. The aim was to sell numerous memberships to individuals by reading out carefully drafted scripts and sending out audiotapes, while abetting tax evasion and securities fraud. The attractiveness of the company’s scheme lay in the fact that people could make a lot of money and not have to pay taxes on them.
Thus, many people have fallen for Global Prosperity group’s gimmicks. They have lost their hard-earned money by investing in dubious off shore trusts. Therefore, it is advisable to keep away from Global Prosperity group’s activities and associates in any form.
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