Commentary on Pyramid Scheme — 12/14/2007
by: Ricardo González
Editor - The González Report , Executive Director - Bilingual America

The bottom line of this particular article is that mostly Latinos were being defrauded primarily in the Orlando, FL area as well as Puerto Rico.

This was being done using something that these people desperately need, English training, as a pretext for a pyramid scheme in which the owner of Wealth Pool was able to accumulate up to 132 million dollars from unsuspecting investors.

The story bothers me on two fronts.

First, I am the Founder and Executive Director of Bilingual America, a professional Language and Cultural Management Training institute. This kind of thing continues to drive the consumer into more and more confusion as the plethora of deceitful marketing schemes in the language training industry abounds, and this goes for both English and Spanish training. My friend, you will never learn a language well in '30 minutes a day in a month'. ¡Por favor!

Secondly, the desperateness on the part of many Latinos to 'make it' in the United States is both understandable and disheartening. We need a group of true Latino leaders to arise who will come together to teach our people solid business and economic skills. Until we do this, our people will continue to be easy prey for con artists.

Unfortunately, this story is not isolated and fraud is a very big issue and problem in the Latino community. I, for one, believe the solution to this type of thing is better financial education of our people.

Latino business leaders need to create and offer legitimate economic opportunities to our people. We can not prosper as a society simply getting middle to lower socio-economic class people to purchase our products and services. We must educate and create legitimate business opportunities for our compatriotas.


Adelante,


Ricardo
González