The Amway Decision. The Federal Trade Commission decided that Amway was not an illegal pyramid scheme, but a legitimate business. How did that happen? Why is it important. This week on the Truce Podcast we’re joined once again by Robert Fitzpatrick of Pyramid Scheme Alert (https://pyramidschemealert.org/), author of Ponzinomics to explore the history of MLMs.
Also in this episode is a brief history of the founders of Amway: Richard DeVos and Jay VanAndel. The DeVos name probably sounds familiar. Our current Secretary of Education is Betsy DeVos, daughter-in-law to Richard. She’s made a lot of news in her position because of her stances on charter schools and arming teachers in public schools.
A lot of information for this episode came from the book “Dark Money” by Jane Mayer. It is an excellent read and raises a lot of good questions about money in politics.
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Here is a link to the FTC website explaining the characteristics of a pyramid scheme: https://www.ftc.gov/public-statements/1998/05/pyramid-schemes
Topics explored in this episode?
* Is Amway a pyramid scheme?
*Are pyramid schemes legal?
*What makes a pyramid scheme legal?
*Am I in a pyramid scheme?
*Who is Betsy DeVos?
*History of Amway
*Why is Richard DeVos?
*What happened to Blackwater?
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