The Federal Trade Commission (FTC) works for consumers to prevent fraudulent, deceptive, and unfair business practices. Section 5(a) of the FTC Act, 15 U.S.C. § 45(a), prohibits unfair or deceptive acts or practices in or affecting commerce. Misrepresentations or deceptive omissions of material fact are deceptive acts or practices that are prohibited by Section 5(a)…
What Is A Pyramid Scheme?
Pyramid schemes are clearly illegal, but what exactly is a pyramid and what is not? In the United States, the Federal Trade Commission is one of the governmental bodies that have the power to shut down pyramids. According to the FTC, one sign of a pyramid scheme is if distributors sell more products to other…