Internet Advertising Pyramid Scheme

A “Pyramid scheme” is what many disgruntled members are calling an internet advertising company calling itself “Your Money Machine Success System” or by the acronym YMMSS. Company literature states that “Success Through Advertising” or STA is the parent company of YMMSS.

Members were introduced to YMMSS beginning in June 2002 on the internet or through friends, family, and other acquaintances as a high return advertising commission program guaranteeing to double their funds every 60-90 days. The member’s only obligation was to read internet-based advertisements for 30 minutes each week and post ads.

Members say Kim Inman, the originator of the program guaranteed that the time (cycle time in YMMSS speak) for a commission to accumulate to double the amount of a single advertising purchase would never exceed 90 days. They were told that he had worked on the program for 6 months to create a unique system and that should the need arise he had reserve funds to keep the cycle time under 90 days.

From all accounts the system seemed to work for a couple years, but in 2005 the cycle times started rising beyond the guarantee. Sentiments were divided, early joiners who had already made many returns advised patience, but many others complained and asked for refunds, but were rebuffed. To add fuel to the fire the pay structure was changed and is now only paying pennies on the dollar in return. Also many U.S. members have stated they were issued 1099 tax forms this year for income they never actually received.

Many members feeling they have nowhere else to turn are beginning to make reports to the Federal Trade Commission, the Internal Revenue Service, the Securities and Exchange Commission, their local Attorney General, and just about any one else who will listen.

Latest reports indicate that Kim Inman is stepping down from the daily operations and will be spending more time in his Belize resort.

posted by steve_o @ 2/17/2006 06:26:00 PM