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Archive for the Pyramid Schemes Category

Burnlounge 3.0 | The Pyramid Scheme That Just Won’t Die

_{Update written by: E.J.}

Sun, Sep 21, 2008 at 11:04 pm Posted in Burnlounge, Pyramid Schemes, Scams, This Business Of Music 4 Comments

We’ve never been a fan of the Burnlounge v.1.0 or 2.0 (aka the “pyramid scheme” versions in which “store owners” were bilked of hundreds of thousands of dollars that they’ve never recouped). We’ve been infiltrated by Kool-aid sippers repeatedly defending the illicit financial practices of the once-notorious (and we thought dismantled) pyramid scheme, several of whose “store owners” were the subject of successful lawsuits filed by the Federal Trade Commission. Their CEO resigned in disgrace. Their website has been down for months now and most people figured that was that. So what does Burnlounge have up their sleeve now? I guess we’ll have to wait and see when Burnlounge 3.0 is unveiled.