Many people have the misconception that Cash Gifting is illegal. The true fact is that Cash Gifting is absolutely legal, according to LaFata Marketing Group.
December 8, 2008 (PRESSbooth.ORG) -- “Here's what you need to know. In doing your research on Cash Gifting, you will undoubtedly come across websites, articles and blogs that will claim, and quite convincingly so, that Cash Gifting is either a pyramid scheme, a MLM scheme, a get rich quick scheme or all of the above and without a doubt, all of the above are indeed illegal and cause people to lose a lot of money. In my option, most of the authors of such material simply have the readers best interest at heart, and have themselves either loss money as a result of participating in one of these schemes or have seen friends and/or family members who have been ripped off. None of that makes Cash Gifting illegal!” says MR. Rick LaFata of LaFata Marketing Group
“With that said, there have been forms of Cash Gifting that were considered illegal pyramid schemes by the SEC and the IRS because of the way the programs were structured and the fact that the people who created the programs were the ones who collected most of the cash. These programs, along with the many other investment schemes out there, were operated in many instances like companies and solicited individuals to send them money in order to join. Those people would in turn have to recruit other people to join in order to make money and pay the commission or referral fee to the person that recruited them. All the while, the person or persons at the top of the pyramid continue to receive commissions from everyone below them. All the money basically flows upward. This is clearly an illegal activity, designed to make the people on top very wealth while defrauding the people on the bottom with the promise of high-end returns and continuous cash flow”
When asked about other illegal Cash Gifting programs, “There are other aspects that would render a Cash Gifting program illegal, such as a program that promotes itself as an investment or a business opportunity. Investments fall under the Securities Act, which requires strict compliance to certain rules and guidelines. Gifting of money does not fall under this definition and cannot be legally termed as an investment. Also, under state laws, a business opportunity is a contractual obligation between a buyer and seller. a two-way exchange of goods and/or services. cash Gifting is "not" a two-way deal! Cash Gifting only flows in one direction, from a giver to a receiver. the person that gives a cash gift will receive absolutely nothing from the person receiving the gift. There is no exchange. Nothing from the receiving end flows back to the giving end. Therefore, Cash Gifting cannot legally be called an investment of a business opportunity. Most Cash Gifting programs adhere to strict guideline concerning the language involved with this activity. A gifter should avoid the use of terms like "earn" or "make" when referring to receiving money. A participant in a Cash Gifting program does not make or earn money. They receive a gift with no strings attached”
About LaFata Marketing Group:
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Contact:
LaFata Marketing Group
1 Bear Lake Rd-573-21
Email: ricklafata @ gmail.com
Website:http://www.thepeoplesprogramrocks.com
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