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Thread: Legal to setup a company to promote your own company?

  1. #21
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    Quote Originally Posted by Harold Mansfield View Post
    Actually, there is an episode about a company that did exactly what you've just proposed. IT support and equipment leasing. It was started the exact same way, getting investor money to buy equipment by promising huge returns on the back-end from the leasing and maintenance.

    It operated like a total ponzi scheme (new investors money to pay old investors) because the business model is completely unsustainable on a small scale when you have to pay investors.
    Found it. It was called Cybernet.

    Here's the American Greed video
    Watch American Greed Online - The Rise and Fall Of CyberNet | Hulu

  2. #22
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    Thanks guys.

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