Hi there,

I'm very new at playing doublers, about 4 weeks young. I never thought to really ask this question, but can anyone respond to it? I'm wondering what the legalities are with playing doublers online. Does anyone know?

Thanks!

moved to general chat

Can you be more specific?

These are definately illegal in the US. That is unless you're actually buying the ebooks or whatever not trying to doubler your money.

The doubling should be a byproduct, not the other way around.

This does help. I will also read through General Chat, thank you to the moderator. I wasn't sure where to go for answers. I do live in the US, so I need to clarify some things. Thank you all for helping!

Lets rephrase that ...... Most of these are illegal. It is illegal for one person to purchase the ebook for $5000 but another person can get the same ebook for $100 or less. Look into the program and research the laws associated with mlm programs.

Thanks.

These things are in a grey area still. I've heard of several cases where the members sued the admin because of money getting stuck in a matrix line. Some win and some lose. I'm sure a big part of it all boils down to the wording on the site and the product offered.

You had mentioned members sueing admin's. Have you ever heard of people in the U.S. being sued for being involved with these? I'm just getting nervous now, yikes. I do plan to research the laws of MLM, but if anyone knows about any lawsuits, maybe a gov't. body sueing someone for illegaly getting involved, etc., would be good to hear. Hope you can help!

Just make your money...

That's all there is to it.

I agree, I just don't want to get into trouble, ugh!!! I have been making money & it feels good for a change. I just don't want it to end, know what I mean?

THANKS!!!!!

No one can tell you to stop making money...

i think she is worried about getting in trouble for participating in these "doublers" .... if you pick the ones that try to be as legal as possible i dont see how u can get in trouble. Alot of MLM program owners have went to JAIL...i cant think of any cases where all the members did too....

That's what I'm trying to get across, that members don't have worries but the owners do if people revolt.

Opperating a ponzi program is illegal. The owners and administrators may find themselves in trouble with the law. This is very rare though unless the program is a blatent ripoff. Any law enforcement agency's internet crime division is rediculously overworked.

In terms of personal liability, there is essentially none. You just need to claim ignorance and you will be free. Worst thing that will happen is you lose your money.

In terms of taxes, you would be best off to set up an hour long meeting with a CPA and pay their rediculous hourly rate. They will explain to you the laws and loopholes. If in question though, I'd suggest you claim it as income.

Can I be blackmailed by a CPA? That is, if I don't pay him what he asks for, he will report me as getting money illegally from ponzi schemes? I've been thinking about this for some time.

First of all this is not an "income"
This is much like the lottery...it's a game you are playing trying to make money from it.

If you do claim your winnings on your taxes, you can also claim your losses.
Keep a record of all monies earned as well as all monies lost.