glenn turner pyramid scheme

United States House of Representatives. 1975, P. 304., Hearings on S. 483, 1900, 1927, and 1961, and H.R. PHOENIX, ARIZ. Glenn W. Turner, a farmboy who built and lost a multimillion-dollar financial empire with his pyramid sales schemes, lost his freedom Thursday. "[7] Turner, attorney F. Lee Bailey, and eight others were also indicted by a federal grand jury on conspiracy and mail fraud charges. [12] The indictment said that Bailey had appeared in a film made for Turner's organization and had appeared with Turner at several rallies. Lotstein acknowledged that not all of the Challenge "victims" were pleased that Turner was prosecuted. By Rudy ???trated. [3] An estimated 70 companies (as of 1972)[4] were owned by Turner (owned by Glenn W. Turner Enterprises, Inc.):[1] Dare to Be Great, which sold motivational and self-improvement courses, and also functioned as a multi-level marketing company;[5] Turner had also briefly worked for Holiday Magic, another multi-level marketing company that sold home-care products and cosmetics, and through related companies sold self-improvement programs. Ward, et al. But what he is actually selling, he . But his empire collapsed after state and federal investigators accused him of operating pyramid schemes that bilked thousands of investors. Eventually, the truth comes out. Turner was a former sewing machine salesman and son of a South Carolina sharecropper and an unwed mother, born with a cleft palate and a hair lip, who dropped out in the eighth grade, did a short stint in the U.S. Air Force before successfully finishing a school for those who had dropped out of high school. 0000003297 00000 n [28] The Mind Dynamics course was described as providing "a means of achieving personal success through the conscious use of the subconscious mind". Glenn W. Turner, a farmboy who built and lost a multimillion-dollar financial empire with his pyramid sales schemes, lost his freedom Thursday. 0000003018 00000 n 0000023769 00000 n [1] To form the pyramids of success, many directors, larger numbers of supervisors, salespeople and still more customers were needed. Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions. See the article in its original context from. Koscot Interplanetary, Inc. was an Orlando, Florida based multi-level marketing cosmetic company selling mink oil-based cosmetics, owned by Glenn Wesley Turner (19342020). hb```e`` /`"\}!5|Z1O(s@Tu4t5UL- M-\\mm||=C#cbC"R32S [7], When some salespeople found customers in short supply, Turner encouraged them to 'fake it until you make it,' by wearing expensive clothes and waving around $100 bills to lure in others". "They conspired to get Mr. Turner," said another woman. Mr. Maxa, Washington Post reporter, describes this ripe chapter in the annals of Boobus Americanus with clarity and an eye for the juicy detail. Extensive notes. 5 OF THE FEDERAL TRADE COMMISSION ACT AND SEC. Today, the phrase is also a way to push back on the feelings of self-doubt we call impostor syndrome, or to put forward an advantageous personal or professional confidence we might not entirely feel. JrsJk**j;{:[Z{&N. See the article in its original context from. [3] Another has him convicted in 1987 along with Edward Rector, on charges of conspiracy, fraud and operating a pyramid scheme, and sentenced to seven years in prison. A lot of books have been written about Mr. Turner and today weve put the final period in the final chapter of the saga of Glenn Turner, Lotstein said. The Glenn Turner court was confronted with the pyramid sales scheme of Dare to Be Great, Inc., a wholly owned subsidiary of Glenn W. Turner Enterprises, Inc. Ostensibly Dare sold through four "adven-tures" and one "plan" a motivation training course consisting of printed 0000007360 00000 n 0000010114 00000 n Koscot Interplanetary was a company from Orlando, Florida, selling mink oil-based cosmetics and was started by Glenn W. Turner in 1967. Mr. Maxa cannot resist quoting H. L. Mencken's observation that no one ever went broke underestimating the intelligence of the American public. It didnt. As it turned out, investors would have to pay $5,000 apiece to participate in the program, which revolved around distributorships for sales of motivational cassettes, classes and books. In the end, Turner was saved by New Orleans evangelist, known as the Chaplain of Bourbon Street, who also pointed the way to fiscal salvation by introducing Turner to his own business managera former minister himself. It is here that Mr. Maxa shows unusual ability to compress tedious and protracted legal wrangles (one trial lasted nine months) into an absorbing account. Glenn W. Turner is now all but forgotten. But this salesman extraordinaire in flashy suits was once all but omnipresent in American life. 0000003018 00000 n But his empire collapsed after state and federal investigators accused him of operating pyramid schemes that bilked thousands of investors. Private investors also have claims against the property for $200,000 in tax certificates, under which they paid the taxes and earn 18 percent interest until the property is sold and the tax amounts are paid back to them.. Turner and his family havent paid property taxes since 1979, but investors bought tax certificates equal to the back taxes each year. 0000004278 00000 n 0000002742 00000 n 0000006933 00000 n torture involving a mouse that was supposed to eat a recalcitrant witness's heart (Good Lord! According to 2019 surveys done by the Pew Research Center, almost half of us say Americans are not as reliable as in the past. Turner, imprisoned in Arizona prison for fraud, has owed the IRS millions of dollars in back taxes for more than a decade, and the agency has succeeded in foreclosure proceedings against the property in Seminole County. 0000008799 00000 n The Glenn Turner court was confronted with the pyramid sales scheme of Dare to Be Great, Inc., a wholly owned subsidiary of Glenn W. Turner Enterprises, Inc. Ostensibly Dare sold through four "adven-tures" and one "plan" a motivation training course consisting of printed He subsequently bought exclusive rights for Middle East distribution of Holiday Magic cosmetics and formed his own company, Beauty Magic, in Beirut, Lebanon. United States District Court, D. Oregon. Both stood with their hands folded behind their backs as Dougherty announced the prison terms. But it draws on older strains in American life, marrying psychological concepts on how to change human behavior with the positive-thinking self-help culture that might as well be Americas unofficial state religion. ", United States Congress, Select Committee on Narcotics Abuse and Control, 1977, P.53. Wk. 0000002472 00000 n A list of over 350 print sources on paper chain letters and pyramid schemes. Just before he was sentenced, Turner told Maricopa County Superior Court Judge Bernard Dougherty, "My intent has never been to hurt but to help. 5616. Yes, Mencken would have loved it. Turner's long gone from the "And so can you," they would tell the crowd. They were convicted last month on charges of conspiracy, fraud and illegal pyramid sales in connection with their Challenge Inc. motivational program. But nowhere has the ethos of fake it found more fertile soil than in Silicon Valley, where the line between optimism and deceit can admittedly be a fine one. In 1964, after a bankruptcy and several business failures, Patrick (age 33) was walking by a garage in San Rafael, California, and noted that fruit-scented cosmetics were being sold. [1], Pyramid schemes being illegal, Koscot became involved in substantial litigation from government agencies and Koscot's customers. /b+;*R2VL5 WC^ ;_>[AM "su`/d_w$3qhTGS;#m!bytBefF~s*GB9z\eBUK,nrEYXn u.$leJrk5@ 0000031782 00000 n If he never quite tells us what made Glenn Turner runthat is was he a con artist or merely an overeupeptic free enterpriser?no one else knew either, including perhaps Turner. 0000001036 00000 n U.S. District Court documents in Orlando indicate there are dozens of other Turner creditors, but it is unlikely they will be paid from any proceeds from the Castles sale, officials said. 0000003563 00000 n . In SEC v. Glenn W. Turner Enterprises, Inc., 474 F.2d 476, 482 (9th Cir. 0000001769 00000 n When a federal judge lumped together 1,000 of those lawsuits into a single class-action suit seeking nearly $1 billion, Turner went bankrupt. https://www.nytimes.com/1977/02/20/archives/dare-to-be-great-a-sincere-con-man.html. Prosecutors said Rector and Turner also failed to warn investors that Challenge had been sued and was facing large judgments. [1] In 1971, the Federal Trade Commission filed a lawsuit against Koscot, charging restraint of trade. The purpose of this Note is to investigate the A nine-month trial ended in a hung jury. 0000004799 00000 n 0000000016 00000 n Subcommittee on Consumer Affairs. "Our intent was to help people believe in themselves.". Turner, Rechtor and a third man, Alan K. Oaks, were accused of defrauding Arizona residents who were promised incomes of $1,000 to $3,000 a month if they invested $5,000 to become sales people for Challenge Inc. Investors were subjected to highly emotional sales and promotion techniques in a process described by company insiders as jacking up prospects, Assistant Attorney General R. Jeffrey Woodburn said during the trial. As he was led off to jail, he told reporters: The good that I have done outweighs the bad. The con artist became a business model, says Micki McGee, author of Self-Help, Inc. Its only in a market-worshiping economy that you can say defrauding people in the interest of profit would somehow be okay.. Glenn Turner's Winter Park castle currently is for sale for $1.8 million. "They come from preachers, lawyers, housewives, plumbers, carpenters," Dougherty said. "It is hard for me to believe . 0000005760 00000 n Patrick bought all of the cosmetics supplies for $16,250, and founded Holiday Magic, Inc. After the purchase, Patrick began selling distributorships in his new company. As inequality grew, almost all gains went to those already at the top, leaving many convinced that pretending to be on top already was the best way to make it so. Our intent was never to go out and commit a criminal act., Later, as he was leaving the courtroom in handcuffs, Turner told reporters, I think history will tell what I really was. But when the claim has little to no basis in reality, it will almost certainly lead to failure and, as Turner discovered, to oblivion. [11] 1974 hearings before the Congressional Oversight panel of the Federal Trade Commission described Holiday Magic as a "Multi-level marketer of cosmetics", that used an "unfair and deceptive pyramid distribution scheme". [28], CEO and President Roland R. Nocera pleaded guilty to securities fraud, in the case United States v. Nocera, et al. 0000023769 00000 n (As for The Apprentices more famous host Donald Trump, a nepo baby who cosplayed a successful mogul on the show we all know how that turned out.). On this Wikipedia the language links are at the top of the page across from the article title. v. Robert W. Warren et al. Senate. Turner's fame and wealth was to be an inspiration for others to buy franchises so that "they could all be rich and successful like him". Turner and a partner, Edward Rector, 57, were sentenced to seven years in prison in Arizona in August on charges of operating a pyramid scheme there and defrauding investors through a self-motivational company called Challenge Inc. Connect with the definitive source for global and local news. 0000004278 00000 n Glenn W. Turner is now all but forgotten. However from a technical perspective, there are differences in the way the two types of schemes operate. Originally the organization distributed goods such as home-care products and cosmetics. Sign up for a weekly roundup of thought-provoking ideas and debates. Yes, the ethos can lead to success, as long as you actually have the goods and the skills. Cryptocurrency arrived, basically a fake it till you make it form of money. 256 pages. However, the focus of the company was more about selling distributorships than cosmetics. A technicality of the law is what got me. By the time he died in 2020, it took more than a year for a newspaper reporter to stumble across his Legacy.com obituary and make note of his death. It's easy and secure. Holiday Magic Inc. et al. Maricopa County Superior Court Judge. 0000004119 00000 n The IRS, which had a $15 million claim, has been awarded a judgment of $9.275 million, but appraisals put the value of the Turner property at $1 million to $2 million. ", "Opinion This all-but-forgotten con man sold America on 'fake it till you make it', Juice Plus AKA National Safety Associates, European Grouping of Marketing Professionals, https://en.wikipedia.org/w/index.php?title=Koscot_Interplanetary&oldid=1142208959, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 1 March 2023, at 02:56. 0000031782 00000 n In 1975, Turner pleaded guilty to a single charge of violating securities laws and was given probation. In 1967 Turner borrowed $5,000 to start his Koscot Interplanetary Inc., a cosmetics firm in which distributors could sell other distributorships for commissions. Referring to Charles Ponzi, who earlier this century put together a huge investment swindle that still bears his name, Lotstein said, "I imagine there are still people that feel that Mr. Ponzi was doing good for the world. ", Dougherty said he also took into account that Turner "has on a consistent basis and a generous basis contributed large sums of money . Lotstein said he doubted the money would ever be collected. "Challenge had a positive effect on all of our lives," said one woman who was crying in the hallway outside the courtroom. (unrelated to Holiday Magic). [5][29], William Penn Patrick bought Mind Dynamics in 1970. 0000007360 00000 n But that came later. 0000001791 00000 n .to various charitable organizations. I have remorse for these people that did not benefit by what we set out to do. 0000023584 00000 n During the eight-week trial, however, two former top Turner aides testified that Challenge officials knew their operation was illegal. But Turner seems to have genuinely convinced himself he was offering the little people a splendid opportunity. A group of a half-dozen former Challenge participants, who would not give their names, said after the sentencing that Turner and Rector did nothing wrong. House Permanent Select Committee on Small Business., 1973, P. 127, 137, 157, 203. IT WOULD BE impossible to write a book about the sales empire of Glenn Turner without invoking H. L. Mencken's familiar remark that no one ever went broke underestimating the intelligence of the American people. I have often wondered if Amway distributors borrowed this terminology from Turners group, or was it Turner who confiscated these words and phrases from some Amway distributors? Kerns wrote. Thus one gets sentences such as Meanwhile, in a downtown Frankfurt prison, thirtyeightyearold Turner astounded a U.S. State Department official who visited his cell to explain that the British had requested his arrest on possible charges of fraud in England. Fine time to find out Turner's age. Lawyers for Turner and Rector asked Dougherty to let their clients remain free while they appealed their convictions. 0000023584 00000 n This book may be edifying but, having long believed, considerable evidence to the contrary notwithstanding, that The People Is Not Dumb, I found it depressing. The Challenge program was similar to Turners Dare to be Great program, which won him national attention during the late 1960s and early 1970s, the state attorney generals office said. TimesMachine is an exclusive benefit for home delivery and digital subscribers. Citation Needed, a podcast, has an episode about William Penn Patrick (and Holiday Magic). To preserve these articles as they originally appeared, The Times does not alter, edit or update them. SAN DIEGOGlenn Arcaro of Los Angeles pleaded guilty today in federal court for his participation in a massive conspiracy involving BitConnect, a cryptocurrency investment scheme, which defrauded investors from the United States and abroad of over $2 billion. Mr. Maxa has the newspaper reporter's habit of cramming in information wherever it will fit, whether apposite or no. 0000032500 00000 n Just when one has about decided there is little more one wants to know about the harelipped sharecropper's son, the book changes focus to the years of various legal proceedingssecurities irregularities, mail fraud, obtaining money through false pretensesthat finally stopped the unstoppable Turner. A Maricopa County Superior Court jury convicted Turner and Rector Tuesday on charges that they promoted a pyramid scheme, similar to chain letters, with their motivational company Challenge. As Elizabeth Holmes gives way to Sam Bankman-Fried, who gives way to George Santos, its worth pondering why our society has embraced an ethos popularized by a huckster such as Turner. [6], In February 1973, Holiday Magic was sued for calumny by Avon Products. Glenn Wesley Turner August 19, 1934 - January 8, 2020 Lake Mary, Florida Set a Reminder for the Anniversary of Glenn's Passing Forward to Family & Friends Share a Memory Print Contact Support Upgrade Death Certificates Share This Obituary Make a Memorial Donation Tributes.com partners with over 100 national charities. Targets for citations in Chain Letter Evolution. This is a good little book about an earnest con artist who ripped off the American public for $75 million. . In the lawsuit, Avon Products' claimed that "Holiday Magic employees distributed leaflets accusing Avon of goon squads, paying off The District attorney's office.."[7], In June 1973, the United States Securities and Exchange Commission filed a lawsuit against Holiday Magic,[8] charging Patrick with "bilking some 80,000 people out of more than $250 million through his Holiday Magic cosmetics and soap empire. What Turner really sold was hope, which is the stock in trade of others beside pyramid sales pushers. Turner, the son of a sharecropper, told people they could all be rich and successful like him if, that is, they made an investment in his multi-level marketing company. 0000010114 00000 n Turner barely escaped jail in 1975 when a federal jury in Florida was unable to reach a verdict after a nine-month fraud trial. Turner, 53, created a $300 million empire in the 1970s by selling distributorships in his Dare to be Great and Koscot International companies. vlyiJ)pd*n\[PN>8Yl^1cyO"`CC\=bu3hB "If anyone was hurt in our program, I am extremely sorry. Civ. But the notion that you can fake it until you make it began to spread through multi-level marketing efforts such as Turners, where studies show few earn a profit and deception is rife. GLENN W. TURNER ENTERPRISES, INC., a Florida corporation, et al., Defendants. xref ". 0000031956 00000 n The Last Podcast on the Left, a podcast covering topics like serial killers, conspiracy theories, and cults, discussed Holiday Magic on a 2023 episode about David Miscavige. <<7C981AD2C2A8B2110A00B0784D58FC7F>]/Prev 803466>> Two years later he founded Dare to be Great, a motivational program similar to the later Challenge. The company called Zolene was about to go out of business. Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions. 0000003297 00000 n Dougherty then passed sentence, despite receiving hundreds of letters in support of Turner. 2/10/75, p. 38) and Bestline . "[7], According to one report target of prosecutors "in more than 30 states" targeted him. 0000006933 00000 n <>stream "I think the court's ruling today put the final period in the final chapter of the book on Glenn Turner.". PHOENIX, Ariz. (AP) _ The founder of the Dare to be Great motivational program was sentenced Thursday to seven years in prison for using an illegal pyramid scheme to bilk people out of thousands of dollars. The Rise and Fall of Glenn Turner and His Financial Pyramid, https://www.nytimes.com/1977/03/16/archives/the-rise-and-fall-of-glenn-turner-and-his-financial-pyramid.html. what would happen when these distributorships reached the saturation point, when there was no one left to buy a distributorship, and so many people selling cosmetics that it was impossible to recover the large investment from the small cosmetics commissions? Glenn Turner's Koscot charges $2,000 for the right to distribute "kosmetics." Holiday Magic (Bus. 0000037159 00000 n Prosecutors said Challenge officials misled investors by telling them they would not have to put up their own money. DARE TO BE GREAT. [18] Clarke referred to the company as an "illegitimate" business. 0000031956 00000 n It is apparent from this Court's findings of fact that the defendants are promoting a type of scheme commonly known as a pyramid operation. 0000004799 00000 n Dropping the creator of Dilbert is free speech at work, Ron DeSantis shows how not to run an education system, False Profits: Seeking Financial and Spiritual Deliverance in Multi-Level Marketing and Pyramid Schemes. 0000001769 00000 n 1973), participants in a pyramid sales scheme were found to be security holders, since they invested their funds in a common scheme dependent for success directly upon the collective sales efforts of the organization. 0000008424 00000 n One of them was Bob Hattaway, a former state legislator from Altamonte Springs who came to Arizona to testify for Turner. There being no provision in either law or morality for fraud without intent, it's hard to figure out what that makes Glenn Turner. endobj But the real bait was the right to sell the righttosell to other suckers on the principle of a chain letter. Mencken, Mr. Maxa says, would have loved Glenn Turner as one of those colorful rogues who enliven the American scene, a sort of cross between Elmer Gantry and Charles Ponzi, whose name is to financial pyramids what Tutankhamen's is to the original. One bought a cosmetics distributorship for $4,500 and became entitled to sell distributorships to others, pocketing a fat commission. The saying became so pervasive in Amway that it would be the title of a 1980s expos by Phil Kerns. On this Wikipedia the language links are at the top of the page across from the article title. Koscot was founded in 1967. xref Glenn W. Turner, 53, was sentenced along with Edward G. Rechtor by Superior Court Judge Bernard J. Dougherty, who said he had received scores of letters on behalf of the two Goldenrod, Fla., men. 1. As Mr, Maxa notes, Americans have always had a weakness for successful rogues. Attached to the side stands connected a lone, cylindrical tower that contains a stairwell on the inside. 0000004119 00000 n At the meeting Turner's proteges would run to the stage in their flashy suits and fancy shoes, with $100 or even $1,000 bills pinned to their lapels. Turner, 57, served nearly two-thirds of a seven-year term in Arizona for fleecing investors in a scheme for distributing motivational tapes. The book has its lighter moments. A few months later, another seller would tell a Florida courtroom that he, too, had been instructed to fake it till you make it. When the Securities and Exchange Commission filed a complaint against Turners company, a judge cited the phrase as evidence of malfeasance. 0000041122 00000 n trailer And as Turner understood, making lots of money will get you almost anything, including an invitation to lecture at the Harvard Business School. Donate Charges were then dropped against Bailey. Glenn Turner, operator of Challenge, Inc., of Goldenrod, Fla., and two other Florida executives were indicted Wednesday by a grand jury on 126 counts of conspiracy, securities fraud and. 1 ], in February 1973, P. 127, 137, 157, 203 accused of! About an earnest con artist who ripped off the American public to warn investors Challenge. Of investors federal investigators accused him of operating pyramid schemes of malfeasance hundreds of letters in support Turner... Lotstein acknowledged that not all of the Challenge `` victims '' were pleased Turner. The Challenge `` victims '' were pleased that Turner was prosecuted Narcotics and... Mencken 's observation that no one ever went broke underestimating the intelligence of the page from! Transcription errors or other problems ; we are continuing to work to improve archived... Offering the little people a splendid opportunity, 1973, P. 127, 137, 157, 203: Z... Said Challenge officials knew their operation was illegal `` they conspired to get mr. Turner, '' Dougherty said from. Whether apposite or no errors or other problems ; we are continuing to work to these... And lost a multimillion-dollar financial empire with his pyramid sales pushers episode about William Penn Patrick bought Mind Dynamics 1970! Substantial litigation from government agencies and Koscot 's customers print sources on paper chain letters and schemes... Successful rogues state and federal investigators accused him of operating pyramid schemes that thousands... W. Turner Enterprises, Inc., a judge cited the phrase as evidence of malfeasance put up their money! A lone, cylindrical tower that contains a stairwell on the principle a! In February 1973, Holiday Magic was sued for calumny by Avon.... N. See the article title, et al., Defendants SEC v. Glenn W. Turner Enterprises,,. Let their clients remain free while they appealed their convictions sign up a! Said he doubted the money would ever be collected we are continuing to work to these! And digital subscribers lead to success, as long as you actually have the goods and the skills Challenge motivational! And pyramid schemes being illegal, Koscot became involved in substantial litigation from government agencies and Koscot customers... Really sold was hope, which is the stock in trade of beside. Financial empire with his pyramid sales in connection with their hands folded behind backs! '' business had a weakness for successful rogues as an `` illegitimate '' business the Rise and Fall Glenn., 482 ( 9th Cir you make it form of money sold was,... Of over 350 print sources on paper chain letters and pyramid schemes being,... Up their own money stairwell on the principle of a 1980s expos by Phil Kerns sell distributorships others... But the real bait was the right to sell distributorships to others, pocketing a Commission! Charge of violating securities laws and was given probation to investigate the a nine-month ended! But forgotten occasionally the digitization process introduces transcription errors or other problems ; are. In trade of others beside pyramid sales schemes, lost his freedom Thursday hands! Or update them ] in 1971, the ethos can lead to success, as long as you have. Told reporters: the good that I have done outweighs the bad Rector and Turner also failed warn. But the real bait was the right to sell distributorships to others, pocketing fat! Now all but omnipresent in American life illegitimate '' business genuinely convinced himself he was off. Turner also failed to warn investors that Challenge officials misled investors by telling them they tell... States '' targeted him charges of conspiracy, fraud and illegal pyramid in! Said he doubted the money would ever be collected I have remorse for these people that did benefit..., According to one report target of prosecutors `` in more than 30 States '' targeted him, is! In American life him of operating pyramid schemes edit or update them Inc. motivational program delivery and digital subscribers be! Home-Care products and cosmetics Needed, a judge cited the phrase as evidence of malfeasance problems ; we are to... Timesmachine is an exclusive benefit for home delivery and digital subscribers the inside cosmetics for. Other suckers on the principle of a seven-year term in Arizona for fleecing investors in a for... February 1973, Holiday Magic ) its original context from it till you make it form of.! Support of Turner up their own money 's customers as they originally appeared, the focus of the page from!, there are differences in the way the two types of schemes.. On S. 483, 1900, 1927, and 1961, and H.R the side stands a! Over 350 print sources on paper chain letters and pyramid schemes in life! Than 30 States '' targeted him hung jury Challenge `` victims '' were pleased that Turner was.., 1977, P.53 called Zolene was about to go out of business )! And 1961, and H.R transcription errors or other problems ; we are continuing to work to improve archived..., two former top Turner aides testified that Challenge officials knew their operation was illegal and... The a nine-month trial ended in a scheme for distributing motivational tapes gone from the and. Up their own money to get mr. Turner, '' they would tell crowd. Letters and pyramid schemes being illegal, Koscot became involved in substantial litigation from government agencies and 's... [ 5 ] [ 29 ], According to one report target of prosecutors `` in more than States! The real bait was the right to sell distributorships to others, a... Chain letters and pyramid schemes that bilked thousands of investors misled investors by telling them they would tell crowd. Sued for calumny by Avon products SEC v. Glenn glenn turner pyramid scheme Turner Enterprises, Inc., a who! Al., Defendants 0000004799 00000 n Subcommittee on Consumer Affairs out to.! ( 9th Cir was to help people believe in themselves. `` was offering the little people splendid! 137, 157, 203 a scheme for distributing motivational tapes nine-month trial ended in a hung.... Mr. Maxa has the newspaper reporter 's habit of cramming in information wherever it will fit, apposite..., lost his freedom Thursday nearly two-thirds of a 1980s expos by Phil Kerns con artist who ripped the. We are continuing to work to improve these archived versions mr. Maxa has the newspaper reporter 's of. Omnipresent in American life cramming in information wherever it will fit, whether apposite or no Turner is all. Beside pyramid sales in connection with their Challenge Inc. motivational program the digitization introduces... Have remorse for these people that did not benefit by what we out... Types of schemes operate P. 304., Hearings on S. 483, 1900, 1927, and 1961 and... Come from preachers, lawyers, housewives, plumbers, carpenters, '' they would the. To other suckers on the principle of a chain letter not benefit by what set! Narcotics Abuse and Control, 1977, P.53 Enterprises, Inc., 474 F.2d,! And pyramid schemes being illegal, Koscot became involved in substantial litigation from government and... Pocketing a fat Commission own money, despite receiving hundreds of letters in support of Turner this is a little... American public for $ 75 million underestimating the intelligence of the page across from the `` so. Trial, however, two former top Turner aides testified that Challenge been! Flashy suits was once all but omnipresent in American life the `` and can.. `` ] Clarke referred to the side stands connected a lone, cylindrical tower that contains a on! Observation that no one ever went broke underestimating the intelligence of the company as an `` ''... And Exchange Commission filed a complaint against Turners company, a podcast, has an episode William! Pyramid sales pushers Turner, a Florida corporation, et al., Defendants calumny Avon... 'S observation that no one ever went broke underestimating the intelligence of the company as an `` illegitimate business... According to one report target of prosecutors `` in more than 30 States '' targeted him, basically fake... From government agencies and Koscot 's customers seems to have genuinely convinced himself he was offering little., lawyers, housewives, plumbers, carpenters, '' said another woman 474 F.2d 476, 482 9th! And Control, 1977, P.53 and Fall of Glenn Turner and Rector asked Dougherty to their... Its original context from con artist who ripped off the American public for $ 4,500 and became entitled sell..., he told reporters: the good that I have remorse for these that... Committee on Small Business., 1973, Holiday Magic was sued for by! Warn investors that Challenge officials knew their operation was illegal Clarke referred to the side stands connected a lone cylindrical! Put up their own money tower that contains a stairwell on the principle of chain. '' targeted him a complaint against Turners company, a Florida corporation, et al. Defendants... 1 ], in February 1973, P. 127, 137, 157, 203 make it of. Extraordinaire in flashy suits was once all but forgotten and federal investigators accused him operating! Underestimating the intelligence of the American public for $ 75 million receiving of. Selling distributorships than cosmetics newspaper reporter 's habit of cramming in information wherever it will,. To get mr. Turner, a podcast, has an episode about William Patrick! Would ever be collected lotstein said he doubted the money would ever be collected are the... ; s long gone from the article in its original context from trial ended in a hung.... Sales schemes, lost his freedom Thursday public for $ 75 million what Turner really sold was hope, is.

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