Elite Activity program stresses the fact that it is an easy and safe way to make money, but there are a few things they do not mention.
The basis of this program is the "gifting" law that allows the giving and receiving of cash "gifts" up to $10,000. The law was originally enacted to allow the wealthy a legal means by which to give tax free cash gifts to their family.
Years ago, people got the big idea of extending this provision to an organized activity among strangers. Their have been countless variations and twists on this idea over the years. Elite Activity is not largest or oldest by any stretch of the imagination!
Very few of these programs ever get to be the largest or the oldest because when the FTC or the IRS gets wind of them, WATCH OUT! Participants in these programs use the gifting law and the vague tax ramifications as a recruiting tool, but the reality is that it is ILLEGAL, according to the FTC!
Other than that, which should be a BIG deterrent, this type of enterprise is frought with problems. Honesty and integrity being amoung the foremost.
Since there is no regulatory body that this falls under, you are totally relying on the honesty of those participating. They may be great people, but greed does strange things, even the best of us.
What could be easier? Just follow the matrix and soon it will be your turn to make the big money, but even the most honest person can break down the system if for some reason they cannot or will not follow through. And if it does break down, Good Luck trying to get your money back!!!
Elite Activity and all of the other countless "gifting" programs are controlled only by those participating. Promises and guarantees may be made, but collecting on these promises, without anyone to back you up, is a very different story.
I have heard from inumerable people who were VERY disappointed in the results they acheived with this activity and I personally know several individuals who lost A LOT of money!
Back when "gifting" was all the rage, the LAST thing that ANYONE was doing was advertising on the INTERNET. That is just asking for trouble and beleive me, it will find you and make no mistake, these are problems with the very people you really DO NOT want!!!
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