Post by Logan on Dec 13, 2016 5:42:00 GMT -6
BBB warning: 'Secret Sister Gift Exchange' latest pyramid scheme
Better Business Bureau Serving Central Oklahoma is alerting consumers about the online "Secret Sister Gift Exchange," which is alleged to be an illegal pyramid scheme. The exchange has been circulating on social media sites and claims that participants will receive up to 36 gifts in exchange for sending one gift valued at $10.
"Pyramid and chain mail schemes like this involve exchanging money, gifts, or other items of value under the promise of an exponential return to participants. These types of activities are definitely illegal," said Kitt Letcher, President and CEO of BBB. "If you are looking to get in the holiday spirit and participate in a holiday gift exchange, this is certainly not the way to do it."
Users are encouraged to invite others to participate in the holiday gift exchange, where they will receive information on where to mail gifts.
While gift exchanges grow in popularity during the holiday season, BBB advises consumers to use caution when choosing one to participate in. According to the U.S. Postal Inspection Service's gambling and pyramid scheme laws, gift chains like this are illegal and participants could be subject to penalties for mail fraud.
Read more: www.ardmoreite.com/news/20161212/bbb-warning-secret-sister-gift-exchange-latest-pyramid-scheme
Better Business Bureau Serving Central Oklahoma is alerting consumers about the online "Secret Sister Gift Exchange," which is alleged to be an illegal pyramid scheme. The exchange has been circulating on social media sites and claims that participants will receive up to 36 gifts in exchange for sending one gift valued at $10.
"Pyramid and chain mail schemes like this involve exchanging money, gifts, or other items of value under the promise of an exponential return to participants. These types of activities are definitely illegal," said Kitt Letcher, President and CEO of BBB. "If you are looking to get in the holiday spirit and participate in a holiday gift exchange, this is certainly not the way to do it."
Users are encouraged to invite others to participate in the holiday gift exchange, where they will receive information on where to mail gifts.
While gift exchanges grow in popularity during the holiday season, BBB advises consumers to use caution when choosing one to participate in. According to the U.S. Postal Inspection Service's gambling and pyramid scheme laws, gift chains like this are illegal and participants could be subject to penalties for mail fraud.
Read more: www.ardmoreite.com/news/20161212/bbb-warning-secret-sister-gift-exchange-latest-pyramid-scheme