MyMoney Online, Make Money Mondays

'If you refer MMM to your friends, you’re stealing from them...'

The Money Show’s Bruce Whitfield interviewed Wouter Fourie, current Financial Planning Institute (FPI) Financial Planner of the Year and Director on the Board of the FPI, for his weekly "Make Money Mondays" feature.

Fourie spoke about the risks of Ponzi and pyramid schemes with some focus on the MMM collapse.

Scroll down for quotes from the audio below.

This is sold on trust.

Wouter Fourie

It works the first or second time around, and then it’s easy to sell.

Wouter Fourie

MMM is a pyramid scheme. It will go bust.

Wouter Fourie

MMM is probably the biggest pyramid scheme we’ve seen in years.

Wouter Fourie

‘Successes’ are broadcast on social media.

Wouter Fourie

MMM is the best organised crime I’ve seen around!

Wouter Fourie

If you’re referring your friends, you’re stealing from them.

Wouter Fourie

Multilevel marketing schemes such as Amway are not pyramid schemes. It’s a well-accepted business model.

Wouter Fourie

If it walks like a duck and it quacks like a duck then it is a duck.

Wouter Fourie

Pipcoin sounds like a duck.

Wouter Fourie

The odds of getting away with a pyramid scheme is 100% right now. It’ll implode before it makes it to Court.

Wouter Fourie

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