Did you know that your browser is out of date?
For the best experience we recommend upgrading to the latest version of these supported browsers:
I wish to continue viewing on my unsupported browser
For the best experience we recommend upgrading to the latest version of these supported browsers:
I wish to continue viewing on my unsupported browser
Thu Jan 04 19:58:39 UTC 2018
Dr. Chetan Sanghvi
Dr. Chetan Sanghvi, Managing Director in NERA’s Antitrust and Competition Practice, recently published the article “We Need A Law To Recognize And Combat Pyramid Schemes” in Law360. In his expert analysis, Dr. Sanghvi explains the need for well-crafted protective legislation and assesses the proposed Anti-Pyramid Promotional Scheme Act of 2017, introduced by US Congressional Representatives Marsha Blackburn (R-TN) and Marc Veasey (D-TX).
Dr. Sanghvi explains how this type of fraud causes large-scale economic damage when consumers, wary of being caught in a scheme, shy away from legitimate direct sellers. The Blackburn-Veasey bill has the potential to stem this damage by isolating, and identifying as fraudulent, the activities that differentiate pyramid schemes from above-board direct selling companies. Language similar to the Blackburn-Veasey bill was passed as part of the appropriations package by the US House of Representatives in September 2017, and efforts are under way to introduce a similar bill in the US Senate.
To read the full text of “We Need A Law To Recognize And Combat Pyramid Schemes,” click here.