Robert Fitzpatrick Warns Readers of the Dangers of Multi-Level Marketing in “Ponzinomics”
Podcast: Download (Duration: 42:25 — 38.9MB)
In today’s episode 211, we visit with Robert Fitzpatrick, author of “Ponzinomics: The Untold Story of Multi-Level Marketing,” an in-depth look at the history of multi-level marketing and how the lack of regulation has ruined many lives.
Hannah Martin, UK-based Consumer Activist and Educator and Co-Founder of Talented Ladies Club, says “Ponzinomics is essential reading for anyone who wants to truly understand the MLM industry – where it originated, why it’s not treated as illegal and how it works (or rather, why it doesn’t work for over 99% of participants).”
Authors, financial researchers, attorneys and policy advisors say the book is one of the most comprehensive looks at an industry that has made some people at the top of every pyramid very rick and many others who participate nothing more than financial losers. One reviewer calls the book “A cogent exposé of the pervasive and damaging presence of MLM in the American and, increasingly, world economy. A must read not only for those interested in the specific nature of MLM, but also for anyone who cares to understand what moves us and how we are governed.”
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About the Author:
Robert FitzPatrick is a native of Charlotte, NC. He attended Belmont Abbey College and the University of Georgia with studies in Sociology. He previously worked as newspaper reporter and a community organizer in Charlotte.
In 1997, he co-authored the book False Profits, which examined cultural values and historical trends that lead consumers into disguised pyramid frauds. He is considered the nation’s foremost expert in Ponzi schemes, pyramid schemes, and bogus home-based businesses. He served as an expert or consultant in more than 30 court cases involving pyramid schemes and multi-level marketing, including work for Attorneys General in four states and the US Dept. of Justice.
He was featured on NBC Dateline, ABC World News, and CBS 60 Minutes, the documentary film, Betting on Zero, and the podcast, The Dream. In 2001, Robert FitzPatrick co-founded and serves as president of Pyramid Scheme Alert in which he responds to hundreds of consumer and news media inquiries each year.
Check out Last Week Tonight with John Oliver, the Multi-level marketing video, HERE. Robert Fitzpatrick appears in the video.
Audio Series – Check out Ponzis and Pyramids, a consumer education audio series examining multi-level marketing and revealing the similarities between Wall Street Ponzis and Main Street Pyramids.
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