What would you do if you are approached by your friend to invest in scam, ponzi and illegal MLM?

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I would explain why I thought it was a scam and try and give evidence to illustrate why I felt that way. Typically the promises made are too good to be true and there are generally issues with the transparency of the team behind the schemes. I would give examples of similar MLMs that have already finished badly to illustrate that these schemes exist and how the proposed scheme resembles them.

I would then point out that when the scheme exits most people will lose their money, and that will probably include me and anyone else that I pass the scheme along to. This would most likely damage friendships and families all the way down the chain, including his own.

Finally I would point out that when legislation catches up with crypto there is a strong risk that people involved with MLM will face prosecution. The risks are very high and any potential rewards just not worth the trouble of ending up in jail.