Its not a scam.
But its haram. A fatwa was released a few months back.. Search for it on google, You'll find it.. There's one big fatwa which says GMI is not halal, There's also a small fatwa which says Gmi IS halal.. I believe its haram.
Search for Pyramid schemes, you'll find these schemes are basically a way of taking money from people in the lower pyramid and transferring it to those who are on top of the pyramid.. I did my whole research on this, and at any time, 80% of the people in this scheme are making a loss so that the top 20% people can gain from them. Basically if you join, You profit your friends, When you refer other people, You will make them lose money so that you make money.. Which is fair.
Contact SEC, I did.. I emailed them.. GMI is registered, I asked them why it is registered if this stuff isnt legal. They told me because in pakistan there are so many companies that they cant really do anything untill someone files a case against that company.. They cant keep on searching every single company which one is fraud which one isnt. They also told me since GMI's incorporation it has not filed a Tax return and plus they said when SEC visited their office, There was a construction company on that address instead.
So you can decide for yourself, This ISNT a scam, You WILL get money if you do work in it.. but do you really want money which is illegal and probably haram? Decide for yourself. Oh and i created the same topic on PG here in chitchat thread, You can find it.. and also another one on wiredpakistan.com read those you'll get alot of information i did alot of research about this
---------- Post added at 05:56 PM ---------- Previous post was at 05:53 PM ----------
For those who dont understand.. Here's what it is..
You Buy a product from GMI, that costs around 5 thousand rupees.. That product is a gold watch. Once you buy it, you have joined the GMI scheme. Now, You tell your 2 friends to also buy the watch.. they go and buy the watch.. You earn 30$.. then after that, you refer i think 6 more people, Then you earn another 30$.. and then so on you keep earning 30$ for every 6 people who refer.
But the thing is.. You wont have to refer them yourself.. You refer your 2 friends.. now if they refer 3 person each too you will earn 30$.. so basically it forms a pyramid or a tree if you like and as your tree grows you earn money. BUT there's also another catch.. you have to maintain 2 sides.. Like after the first 2 people you refer you have to refer 6 people, So you have to refer 3 people on the left, 3 on the right to make 30$.. if you refer 10 on the right and 0 on the left you dont make any money...
^^ I hope that made sense
