|Received:||6/30/2006 9:03:12 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:Gentlemen, Let me begin by saying in my opinion the FTC is the only government body left to deal with pyramid schemes. Local law enforcement and even state law enforcement do not have the resources yet this this is a plague. Pyramid schemes are not, for good reason, the priority of federal law enforcement by the FBI or the SEC. I just watched a pyramid scheme implode where over 300,000 people were promised riches and instead became victims, International Galleries, Inc. I was sued by this company for exposing their fraudulent claims. While International Galleries, Inc. was imploding I watched it's clone, Celebrity Galleries, Inc. start operation. This is an American industry based on fraud and deception and I urge you to put this rule in place to give you the tools to prosecute these frauds.