Gifting is
the method of giving funds to people in a
predetermined procedure. The gifting
programs available on the internet all seem
to follow the same patterns. The laws
concerning gifting usually focus on gifting
between family members with a limit of ten
thousand dollars for one person within a
year.
The gifting clubs that have been popping
up consist of a group of people that pool
their money together. They charge an
entrance fee which can be between $400 and
$4,000 with slight variations between
different clubs. Similar to a pyramid
scheme you pay your recruiter and then are
allowed to recruit more people under you.
Again there are different procedures for
different gifting clubs, some make
you pass up only one sale others require
two. After you do that your recruits
will begin their down line again passing up
their sales to you forming an ongoing chain.
These money gifting clubs will tell you
that they have found legal loopholes and are
operating with full legality. However
those are lies, gifting to make money is
illegal and a serious offense. There
are gifting programs that try to get around
this by offering some random products like
software or a CD. This usually buys
them a bit more time before they are shut
down by the FTC.
These clubs generate most of their money
in the initial stage but inevitably become
unprofitable after complaints start pouring
in to the authorities. If you do get
caught by the FTC you face a misdemeanor
charge and you will be forced to pay back
all the money you received. It is
fairly obvious that you should avoid gifting
clubs and gifting programs, no matter
how much profit they promise you.
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Customer Reviews for 'Gifting'
Comments to date: 1. Page 1 of 1.
Gregory L. Davis, Biloxi, MS
Posted at 12:02am on Wednesday, October 29th, 2008
While I know that gifting has received a bad name, I myself believe that gifting can benefit many individuals. True, there are many different gifting activitys and there are several different gifting activities that have since disappeared, it is my opinion that gifting can be successful, provided you have honest eople that are perating the activity and honest participants that will abide by the rules of the activity. I recognize that there are rules and regulations that make it a crime to participate in an activity such as gifting, I just feel that this activity as a whole is receiving a bad rap when there are so many opportunities that are taking peoples hard earned, blood, sweat and tear money, promising them the sky and giving them crap in return. As I said earlier, I realize that it is said to be a criminal offense to participate in this activity, but so should 90% of all other online businesses that promise you the world and deliver to you the grave. My opinion is that if the ... read more»
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