Wednesday, March 29, 2006

Dildo Residents Given the Shaft

I know I know I just coudn't resist the great headline, however this is a case of a company that is just this side of a Ponzi scheme. The result is still the same; screwing investors.

Don't blame us, Edmonton company tells Newfoundlanders

Last summer, the company came to Newfoundland and Labrador communities to find people willing to buy the products and work as independent distributors. Organizer Tracey Piercey said about 200 people signed up with the company last summer. She and others who attended a meeting Sunday night in the community of Dildo said they were promised high rates of returns within months of becoming involved.

As they say Cavet Emptor, or perhaps Invest Emptor, while the folks fleecing those gullible would say Carpe Diem.

Piercey said participants were told that when houses were sold, they would earn back their money – and a profit. Company president Dexter Dombro said the plan was never supposed to be about easy money.



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