A pyramid scheme is a sketchy and unsustainable business model, where a few top-level members recruit newer members, who pay upfront costs up the chain, to those who enrolled them. The later they join the less they get. So I've been labeled a spammer. To understand the mystery surrounding Kimwiyi’s death, one must look back at what was the 2006-2007 investment craze and the role played by George Odinga Donde and his pyramid scheme, Deci. Show all. RMS. All they gave was Sh250,000 for his burial,” says Musimbi. The big difference between MLM and a pyramid scheme is in the way the business operates. We were outraged because the accusations had no basis. Unlike MLM, Pyramid Schemes Have Only One Purpose. A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products.As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal. Ok well anyone Break the monotony, excercise your problem solving skills. Recently, I re-read the book “The Freedom Bell Curve” by Robert Minteer. A hierarchy in "corporate America" will have general workers, managers, regional managers and CEO's etc. It's Time to Rethink the Corporate Pyramid The engine of prosperity, our middle class, is under siege. Source. There are indications that he was under immense pressure from March 2007, going by a bunch of 37 postdated cheques recovered by his family after his death. Bitconnect, PlusToken, and OneCoin are amongst the most well-known crypto scams. Looking back, it was as if they were trying to humiliate my brother and portray him as a sex pest,” Musimbi says. The body had raptured liver and had subdural haemorrhage in the nervous system.”. Donde was more than willing to employ Kimwiyi as a finance manager and deployed him at the nerve centre of his operations at Union Towers. Perhaps a new organizational chart can stop the carnage. The show has been on the air since June 21, 2007 and was renewed for its 13th season, … Debt Poster March 9, 2021. According to the Federal Trade Commission, pyramid schemes “promise consumers or investors large profits based primarily on recruiting others to join their program, not based on profits from any real investment or real sale of goods to the public.” Add to cart. Unfortunately, many investors fell victim to pyramid schemes. 144 likes. A gifting circle is a pyramid scheme that is gaining a strong foothold in even the most anti-MLM circles. February 28th 2021 at 00:00:00 GMT +0300, Jane Musimbi who lost Sh31 million to Deci in 2007. [David Njaaga, Standard]. Musimbi says she and Kimwiyi’s wife, Dolly, had been called and could not believe the sham charges conducted outside the office and official working hours. Pyramid Scheme Poster $ 20.00. 2) He wants to sell you on an item called The Martian Smartwatch. 1) Many people believe the corporate model of his company is basically an updated version of a good old fashion pyramid scheme. The offices were never reopened. Then the depositor would get back the principal he had invested at the end of the contract. How could he, a veteran with 22 years’ experience, be duped into surrendering all his savings and board a train that would take him to hell? How pyramid schemes work (via the SEC) The people at the top get more because of there being a lot of people at the bottom. “I found myself almost in the middle of the crowd and inquired from an onlooker what had happened. A key indicator you might be embroiled in a pyramid scheme is when the name … The ripples would also be felt in Tanzania where thousands of investors would be reduced to paupers when their money went up in smoke. The company has a curious corporate culture. This was very strange. It was a similar case in the other schemes. She pointed at a tiny widow and told me that somebody had jumped out from that point,” she recalls. Don’t Get Tricked, Bro: How to Recognize a Pyramid Scheme or MLM. Deci told the family that Kimwiyi had been confronted by some angry depositors who were frustrated when they failed to get their money. A week before Kimwiyi died, a kangaroo court was held at a coffee shop along Koinange Street in Nairobi. So it’s different from a pyramid. However, when Elphas told me that depositors were indeed being paid their monthly interests, I bought into the idea,” Musimbi says. The author (who happens to be my brother) makes a strong case for why most businesses and institutions function like a pyramid scheme, economically enslaving the people at the bottom. According to the distraught sister, it was as if his body had been carefully washed, oiled and drained of all blood. American Greed is an hour-long American television show that currently airs on CNBC, Escape (TV network), and CourtTV's over-the-air "MYSTERY" channel.The show profiles various cases involving corporate fraud and white collar crimes.Some of the episodes profile two of these cases in a single episode. According to some of the cheques that were never cashed, a wealth creation company was expecting Sh15 million to be paid on March 23, 2007. A former agent at It Works, an MLM selling beauty and weight loss supplements, told her firsthand experience of the flawed … The thing with pyramid schemes is the focus is building underneath yourself. A group of women, who included one claiming to be a pastor’s wife, had assembled at the place to prosecute Kimwiyi, accusing him of sexual harassment. Ponzi schemes; Pyramid schemes ; High-Yield Investment Programs; Theft or misappropriation of funds or securities; Manipulation of a security's price or volume ; Insider trading; False or misleading statements about a company (including false or misleading SEC reports or financial statements) Failure to file required reports with the SEC Though the pyramid scheme had weaved a veil to conceal most of its secrets, including what could have led to Kimwiyi’s death, there are pointers that the finance manager could have stumbled on some of the dark secrets. The entire purpose of a pyramid scheme is to get your money and then use you to recruit other suckers (ahem - distributors). “At the time, the entrance to Union Towers was blocked. An individual or a company initiates a pyramid scheme by recruiting investors with an offer of guaranteed high returns. You might have already read or heard about Younique. The “Topsoppers,” those at the top of the pyramid scheme of power, derive… Kenyatta’s headache on BBI and 2022 succession, Kakamega Senator Malala surrenders to police, Tecra 'sent lover Omar Sh1.2m within months', How vaccines train your body to stay alive, Manipulated photo shows evangelicals worshipping Trump statue, Factbox: The violence and insecurity affecting Nigeria, No, Tanzania has not rejected "appointed" Zambian diplomat. Donde had formed Deci sometimes in 2005 and convinced his followers that if they gave him their money he would multiply it and pay an interest of at least 10 per cent monthly. We urge them to face his untimely death with courage through faith,” read the statement. Unfortunately, a lack of understanding and misperceptions, especially on social media, can incorrectly put this label on direct selling or multi-level marketing companies, like Amway. I … [David Njaaga, Standard], Musimbi’s brother Elphas Kimwiyi who died after falling from the eighth floor of Union Towers – Deci offices – on May 11, 2007. After a whirl of tears and endless trips to hospitals, dusk ultimately found Musimbi at City Mortuary where her worst fears were confirmed. Multi-level marketing, direct sales, network marketing: There are now many names to describe the industry in which as few as 1% of workers actually make money. Musimbi remembers grilling the onlooker why somebody would take such a drastic step, even if they were facing difficulties. He was never paid his deposits. And then I sat pretty waiting for the investment to mature.”. calendar 10/05/2017 8:00pm 15 Brother Ali @ The Pyramid Scheme Brother Ali @ The Pyramid Scheme The Pyramid Scheme. Bitcoin is considered the grandfather of cryptocurrency, rising from a value of just a few cents to thousands of dollars per coin. Cryptocurrency is beginning to hit the mainstream and investors continue to look to crypto as a way to make money quickly. Another cheque of Sh20 million had not been paid on March 23 as per the investor’s agreement with Deci. The Lord gave and the lord has taken.”. A pyramid scheme is a fraudulent investment strategy, deemed illegal in the United States. ... You’ve got to learn to recognize the anatomy of a pyramid scheme/multi-level marketing/vector marketing/network marketing scam. Other Talk - My Brother is Caught In A Pyramid Scheme! Before you join this MLM, there are some things you just need to know. The pathologist found that the body had lacerations on the scalp at the occipital region, concluding: “As a result of my examination I formed the opinion that the cause of death was head, chest and abdominal injury consistent with fall from a height. Some say they’re a pyramid scheme while others absolutely love them. 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No, Amway is not a pyramid scheme. The U.S. Federal Trade Commission (FTC) eventually identified the company as operating a fraudulent pyramid scheme rather than a legitimate business opportunity and shut it down. That’s literally a pyramid scheme, according the the SEC. Her world was shattered a few minutes later by a chilling call from Dolly who was crying that somebody had told her that her husband had fallen out of his office and into the streets. It looks like a pyramid scheme, acts like a pyramid scheme and smells like a pyramid scheme, but according to the FTC, is not a pyramid scheme. Witnesses could not remember hearing any screams. Bill seeks to lock out secret lovers from partners’ estate, Former ministry accountant loses Sh200m assets, Dar issues threats over rumours on Magufuli, Sh5b agribiz programme to fund women, youth projects, Covid-19 has shown the need for critical care infrastructure, Pyramid schemes: I lost my brother and Sh31m. “The director said that Elphas had to apologise. Pyramid Scheme. On the fateful day, Musimbi had gone to town and on reaching Moi Avenue she saw a huge crowd outside Union Towers. I screamed and wailed, demanding to know where they had taken my brother but all they told me was that they had taken him to hospital.”. “At first I was not impressed by the promises that Deci and the other pyramid schemes could multiply my money. Prior to Kimwiyi’s death, Musimbi says her brother had started questioning how Deci was conducting its business. Subscribe to our newsletter and stay updated on the latest developments and special offers! For an idea of the scale, estimates then had it that at least 3,500 of Mexico City’s 40,000 Jews collectively lost at least $500 million. At this point im losing my mind because i had never smoked with more than one person and im trapped getting pitched a pyramid scheme by the only guy i know who sells weed. To personalise content, tailor ads and provide best user experience, we use cookies. However, within three months of his elevation Kimwiyi would hurtle down to his death from the eighth floor of Union Towers building, causing a public spectacle and triggering panic that would constrict the hearts of 94,000 people. “We take this early opportunity to send our heartfelt condolences to the children, family, relatives of the late Elphas Mwelesa who until his death was a senior member of staff. This is the man who convinced over 94,000 Kenyans and an additional 700,000 Tanzanians (according to Wikileaks) to give him their savings so that he could rescue them from poverty. Pyramid Scheme is designed to promote local & international electronic artists, with a greater focus on the document Fifteen years after he plunged to his death, questions still linger about what exactly happened on that fateful morning. And while the wave lasted he collected about Sh3.4 billion in Kenya and Tanzania. He was particularly perturbed by the way most of the people at Union Towers had their own receipt books and used to collect deposits. After studying the business model of his new employer, Kimwiyi was at first convinced that he too could make some money. Corporate Email. Quoting the book of Job 1:21, Deci wrote: “Naked I came from my mother’s womb, and naked I will depart. Nearly $2 million was repaid to investors in the … Kimwiyi’s life was cut short at the prime age of 47 and his money, like that of 148,000 other Kenyans, lost in a bottomless pit dug by over 300 pyramid schemes. He had, however, not anticipated that 90 days later he would end up as an unpleasant pile messing up part of Moi Avenue on the chilly morning of May 11, 2007. They all get something, but it’s less the later they join. Business in Motion. Selling the Bro Dream: Are Frat Boys Peddling Vemma Suckers? To personalise content, tailor ads and provide best user experience, we use cookies. Like a pyramid scheme. Great. Participants who recruit a downline below them receive a percentage of each of the new members earnings, which again increases when those members recruit, and so on. BurnLounge was a multi-level marketing company operating as a pyramid scheme, where investors obtained the right to sell music through the company’s network. Pyramid Scheme Poster quantity. A majority of the cheques, which were supposed to be paid from March, show that the designated depositors were owed huge chunks of money. Where do I sign up?!?! Meanwhile, Deci, in a public statement dated May 16, 2007, signed by an amorphous “management”, told the public that following the tragedy, which was now under investigation, the operations department was to be closed for four weeks. Despite Kimwiyi’s protests that the woman had squeezed herself between two desks, creating contact between her body and his, the charges were ‘confirmed’. Musimbi recollects that a director of Deci was the chief prosecutor. Pyramid schemes are fuelled by Kenyans’ own greed, gullibility . Clay Muganda “If this is true, how come none of his colleagues came to rescue him? - Originally Posted by solipsta So the thing that you get as a benefit of the company will protect you from the company! According to Kimwiyi’s family, no meaningful investigations ever took place. Amos Kareithi | SKU: 6047F5157378D Category: Posters. Pyramid scheme organizers may pitch the scheme as a business opportunity such as a multi-level marketing (MLM) program. Musimbi’s brother Elphas Kimwiyi who died after falling from the eighth floor of Union Towers – Deci offices – on May 11, 2007. When Kimwiyi signed up with Development Entrepreneurship Community Initiative (Deci), a vehicle created to eradicate poverty, and surrendered Sh7.8 million, which was part of his retirement package, to his new employer, he was full of hope. The death was a real shocker. The entire purpose of MLM is to move product. Nice! A pyramid scheme is an investment fraud in which new participants’ fees are typically used to pay money to existing participants for recruiting new members. Each step means more responsibility, higher workload and higher pay, in order to oversee the general running of the business. “To the best of my knowledge, no witness statements were recorded or investigations done. I was at a party last weekend where I learned about this money scam that rivals even Amway. Who tossed Kimwiyi out of his window and why? He knew him from their interactions at the bank in his days as a banker. ”I tried to secure my money from DECI immediately after but their offices were closed. To make it worse, i was giving "the eye" to all the guys around me, but they were all buying into it. By using our site, you agree to use our cookies. map Doors at 8:00pm | all ages | $18 adv // $20 day of // $65 VIP wsgs. In the obscurity of his after-life, Kimwiyi was robbed of his dignity, his money and his death dismissed as another statistic of a victim who had been defrauded in a get-rich pyramid scheme. It offers up even greater deception and insanity, providing both a … That's brilliant! Before the whole sordid episode passes into the abyss of history, perhaps where it belongs, the rapacious R. Allen Stanford … • Paper thickness: 10.3 mil • Paper weight: 5.57 oz/y² (189 g/m²) But at their core, MLMs, as they’re commonly known, are nothing more than pyramid schemes.However, because so many operate legally, it can be tough to tell the difference between a legitimate business opportunity and a scam. Play today's Sudoku ... Join our leaderboard today, FLEX your gaming intelect. At the scene there were no splatters of blood. When Musimbi persisted, regularly visiting Central Police Station to follow up the case, a police commander told her that she would “go nowhere as everybody had been bought by Deci”. Description Work harder. She was told to forget the issue for her own security. This money included Sh7.8 million Elphas had given me. From the pedestal created for him at his lofty perch at Kenya’s financial capital, Nairobi, 47-year-old Elphas Kimwiyi Mwelesa had been granted the powers to receive deposits and mint millions from those who were brave enough to risk. “I deposited Sh31 million with Deci. She then drifted out of the crowd to attend to her chores. The charges are nothing compared to what would befall him a week later. Subscribe to our newsletter and stay updated on the latest developments and special offers! Why were the murderers never arrested?” poses Musimbi. Elphas’s briefcase, which he normally carried to his workplace also disappeared. A police report dated May 14, 2007 indicated that Kimwiyi’s body had been collected at Union Towers on May 11, 2007, at 11am and he was alleged to have been “pushed to the ground by a mob of people at Union Towers along Moi Avenue”. It was under investigation for 10 years by the Federal Trade Commission as a pyramid scheme. FTC, also says that NOT all multi-level/ network marketing business are pyramid schemes. But Jane still hopes that one day, the authors of her brother’s death will be made to account, either in this world or the next. Musimbi recalls going to Kenyatta National Hospital, assisted by friends, where she was however turned back by medics who said they had not received such a patient. While each pyramid scheme is billed differently, they all have one thing in common: The investors make money by recruiting more investors, rather than on investment strategies, or the sales of products to the public. [David Njaaga, Standard]. Pyramid Scheme Poster; Episode Art Poster March 9, 2021. I lost a brother I had been so close to. The charges were that Kimwiyi had inappropriately touched the breasts of the pastor’s wife in his office. At the ninth level of a pyramid scheme in which each member must recruit only nine new members, 387 million or more people must be members to sustain the business, surpassing the population of the US, according to the Cornell Legal Information Institute. Walking from Mama Ngina Street through the rain, blinded by her tears, numbed by shock and indescribable pain, Musimbi screamed her way back to Union Towers, determined to find out the truth. ... one must look back at what was the 2006-2007 investment craze and the role played by George Odinga Donde and his pyramid scheme, Deci. The guards and the police told me that I could not enter. These and many more questions still bother his elder sister Jane Musimbi, who had unwittingly wandered to the scene moments after her brother’s macabre death and is still haunted by this experience.
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