|Type of Business:||Cash Gifting Scam|
|Skill Level Needed:||N/A|
Viral Franchise Scam Review
by David Harris
“Viral Franchise” by Frederick Spears, found at theviralfranchise.com, is a cash gifting scam wrapped around a thinly veiled Multi-Level Marketing scheme, plain and simple, right from the start.
The Viral Franchise is part of â€œI Wanna Be Richâ€, another business run by Spears, if that indeed is his real name.
I say it is weakly disguised as an MLM risk because there are absolutely no real products sold by The Viral Franchise.
The Viral Franchise cash gifting scam is very much a newer relative of the old chain letters that used to be sent out in the ancient days before computers.
In case youâ€™re not familiar with the chain letter scam, you would get a letter by mail with a list of other peopleâ€™s names and addresses along with a brief instruction.
It starts with one or more people who sign up others to invest in a fake business. Then you sent money to one or more persons on the list.
Then you would send out a new list with your name now at bottom of the list of those others. Those others would do the same and you would get some money.
The new members that pay to join the scheme are told to recruit more that will recruit more, thus making those at the top more money. Viral Franchise is no different.
Unfortunately, scams like Viral Franchise do end at some point because all cash gifting scams get to the point where new investors stop coming and the last ones lose out big.
Eventually this type of pyramid scheme was deemed illegal. Then along came the internet and new con games like Viral Franchise popped up everywhere online.
The Viral Franchise affiliates get a cyber list not unlike the old method once in. They then send payments to people on the list and in return receive their own list.
Sure, an ill thought out Viral Franchise ad page site is packaged to participating affiliates but it is only a jumping off point to the gifting scheme you must market to make money online.
Strangely enough, Viral Franchise operates out of Canada, and pyramid schemes are illegal there. Since there are no products, members who join are only able to market recruitment to the business. Thatâ€™s a pyramid.
It costs seven dollars plus fees for a Viral Franchise clone webpage on their domain that provides 4 name placement fields for your downline and theirs.
You only make money by constantly recruiting new affiliates, until the site gets shut down soon enough. Many of these cash gifting sites stay on until the authorities find them and take them down.
At that point the owner takes the money and runs. Sometimes, the owner just decides to shut it down when they feel the heat coming and theyâ€™ve gotten whatever money is there before theyâ€™re banned.
It is not mentioned what an affiliate gets paid to recruit others or what split they make when their people recruit more.
The Sales Cuts component of the compensation plan appears to add a layer of unregistered securities to the scheme too.
Spears uses vague slogans like â€œmicro transactionsâ€ to refer to commissions, and that is a bit of a red flag there along with the fact that each of those transactions are processed though his merchant processing company IWBR Financial.
So he also double dips on fees included in the â€œtransactionsâ€. This type of â€œanonymous banking” that uses PayPal or other processors is subject to closure and government prosecution if discovered.
The main problem with getting scams like Viral Franchise shut down is that, one- the government does not have enough manpower or budget to go after them.
Two- many times, scams like these are run out of countries that are out of our governmentâ€™s jurisdiction to enforce any laws on them.
Avoid Viral Franchise like the plague altogether. It is a scam.
Thanks for reading…
TagsViral Franchise Viral Franchise TheViralFranchise The Viral Franchise theviralfranchise.com www.theviralfranchise.com Frederick Spears I Wanna Be Rich IWannaBeRich IWBR IWBR Financial Frederick Spears Cash Gifting Scam Multi-Level Marketing MLM mlm scam make money online
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