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Thread: Canadian Diamond Traders

  1. #1
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    Canadian Diamond Traders

    Is there someone with experience with this?

    Someone who invested a sustantial amount of money asked me to join in

    Comments please

  2. #2
    just me duncan drennan's Avatar
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    Faan, do you possibly have any further info you could provide on this? Website, letter, contacts, etc?
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    Site Caretaker Dave A's Avatar
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    A Google search isn't encouraging. At best it's a marginal MLM deal, those ones that are a short step from an illegal pyramid scheme. And it seems to be attracting the kind of legal scrutiny from regulators that generally isn't a good sign.

    It looks like one to avoid.
    The trouble with opportunity is it normally comes dressed up as work.

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    just me duncan drennan's Avatar
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    Okay, here is the website, and here is Australia's department of consumer and employer protection's view.

    The basic test for a pyramid scheme (from the Aus website) is,

    With pyramid trading schemes, people are attracted to the prospect of earning quick money merely by recruiting other people into the scheme.
    which clearly makes this a pyramid scheme. Pyramid scheme's are illegal in South Africa. I have no idea what the penalties are for participating in one.
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    just me duncan drennan's Avatar
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    This has also got some further info detailing how this is a clone of a previous scam, http://www.factnet.org/discus/messages/1/18176.html
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    just me duncan drennan's Avatar
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    Here is info from our very own DTI on various quick money making schemes.
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    I have just had another chat to this friend of mine. He invested more than R40k into this scheme and wants me to join in as well. According to him it is now legal again in Aus and some people cycle through this system every 5 hours and are making mega bucks. I however still feel uncomfortable. Have a look at this site: www.cdtforever.com/idt/zellie01

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    Site Caretaker Dave A's Avatar
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    Have you ever taken a close look at casinos? Have you ever noticed how the bells ring and the lights flash when someone wins?

    Your friend has just put R40k on the table. I'd be worried if he wasn't excited.
    According to him it is now legal again in Aus
    I guess he'd better let that official Australian government website know, then. Obviously they missed the memo.
    The trouble with opportunity is it normally comes dressed up as work.

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    just me duncan drennan's Avatar
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    Quote Originally Posted by Faan View Post
    He invested more than R40k into this scheme and wants me to join in as well.
    40k down...has he managed to get anything out of it yet?
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    No, that is one of the reasons why he wants me to join as well. I think he joined just over a month ago.
    The say they try and manipulate the system by not putting the money in at one time, but organising it such that they can push themselves up.
    You buy a "position" for $120, but they want R1200 for a postion and in the process earning some extra money as well.
    I have already made a decision that I will not join and rather earn a few % interest with a much lower risk.

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