Prosperity Automated System (PAS) was marketed some time on or before 2006, and was soon to launch a bran new version of its program. However, this new version of it was launched around the time that the SEC was working to close PAS down.
Details Pertaining to the Prosperity Automated System Scam
The most recent news easily accessible about this program is dated back to September 2006. Several strikes have been made against this organization and/or participants of it at this time. One of the offenses reportedly committed by this “company” was that it operated a pyramid scheme that included 25,000 websites brining in revenue of over 15 million dollars.
Moreover, PAS was reported to have charged over $3,000 for their programs, which is far more expensive than similar legitimate business opportunities cost to set up. Comparable legitimate operations only run between $300 and $1,000.
One blog comment regarding the Prosperity Automated System involves that of people who borrowed money to purchase this system in hopes to earn big. They receive help from friends, family members, or whoever will give it to them and yet they received no return. They did not even receive a refund.
Prosperity Automated System was reported in several major newspapers; one of these being the L.A. Times. This so-called company was even ratted out by major U.S. officials.
How to Protect Your Self from Further Scam
"Websites that come with the memberships do nothing but sell more memberships," said SEC official Stephen Donahue. He made this comment after investigating further into the Prosperity Automated System scam.
With that in mind, beware that there could be other scams out there. Therefore, you need to be careful. If you want to know how to protect yourself you can visit the SEC (Security and Exchange Commission) website.
You can also check with the Better Business Bureau Online in order to determine if a certain operation has a positive reputation within the community. If they do now, you may possibly find complains listed with the BBB.
If you have been Scammed
If you are the unfortunate victim of a Prosperity Automated System scam you should report this incident immediately. Chances are it is possible to receive a settlement if there is a class action lawsuit still pending.
You should also go to the Better Business Bureau website and make a report about this company. Furthermore, spread the word about this deceitful company to as many people as possible.
Consumer awareness and consumer empowerment in situations like these will help reduce the chances that future scams will take place. You can make a difference in making sure the Internet remains a safe place to operate a healthy thriving useful business.
Characteristics of a Legitimate Venture vs. a Crooked Scam
Usually honest companies will not spam you for one. If they do spam you that would be your first clue that the company you are dealing with is very unprofessional and extremely shady.
Furthermore, they usually will not offer you a large sum of money up front unless it is to purchase some type of brick-and-mortar franchise. If they do, watch out.
Legitimate businesses also usually participate in regular communication with you. They also are available when you have questions or with any amount of assistance that you need. Furthermore, their contact phone and address can be verified, as well as their Internet site.
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