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Houston - Pyramid Schemes for white collar crime

Committed by high-ranking officials like government professionals and entrepreneurs, white collar crimes, in general refers to financially motivated non-violent crime. Following are some of the white-collar crimes and it includes:

  • Fraud
  • Bribery
  • Ponzi schemes
  • Insider trading
  • Embezzlement
  • Cybercrime
  • Copyright infringement
  • Money laundering
  • Identity theft and
  • Forgery

To form a pyramid scheme in Texas, Houston is against the law.  Classified under the category of investment fraud, carried out over a digital medium such as an e-mail, there are many people who will create forged schemes in order to make money.

The process is to send emails declaring that the recipient will get massive returns on small investments if they can make a payment to a business venture. As a result, many people will invest into the proposed business plan thereby making others invest as well. Based on the number of people recruited, investment scheme’s amount of money will cultivate. Ultimately, on the other hand, the entire scheme subsides as the money was not being invested in any firm plan; thereby leaving all victims with no money.

To create, prepare, sell, operate, advertise, or promote a pyramid scheme in Texas is against the law. People who are convicted in association with a pyramid scheme will have a state jail felony on their trace which means 180 days and two years in a state prison and a fine of up to $10,000.   

If you are accused of this deceptive practice then you need a professional Houston based criminal attorney who will help you prove innocent of the crime. 

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Comment by Luis Mier on January 20, 2014 at 12:54am

This is really sad that such kind of activity is still going on.



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