New zero premium life insurance policy/life settlements

It's a good con but I could have made it much better:

1) $30 sign-up fee and announce that only the 1st 10,000 agents who sign up are in the program - then it closes. However, only you know how many have signed up - so you just collect forever.

2) Annouce that it's months away right off the bat. Then you can collect fees for months without anyone getting pissed.

3) State upfront that nothing has been filed with the DOI yet - but will after the investor and insurance company have confirmation that they have 10,000 agents to sell it. State that for obvious reasons the investors won't commit until they see a certain number of agents who are onboard.

4) Sign up recruiters for a $100 fee. Then give the recuriter $10 flat for each agent they bring in. Each agent pays you $30, then you cut an immediate check for $10 to the recruiter. Now people are going NUTS recruiting people since if you get 500 agents to sign up you've made $5,000

5) 4 or 5 months later I've netted $20 per agent and now announce that due to unforseens circumstances this will be delayed another year.

John,

Have you thought of a name for the product? I want to be the first on craigslist with an ad. and i want to buy a domain name.
 
A wet blanket for ya....

fraud
n. the intentional use of deceit, a trick or some dishonest means to deprive another of his/her/its money, property or a legal right. A party who has lost something due to fraud is entitled to file a lawsuit for damages against the party acting fraudulently, and the damages may include punitive damages as a punishment or public example due to the malicious nature of the fraud. Quite often there are several persons involved in a scheme to commit fraud and each and all may be liable for the total damages. Inherent in fraud is an unjust advantage over another which injures that person or entity. It includes failing to point out a known mistake in a contract or other writing (such as a deed), or not revealing a fact which he/she has a duty to communicate, such as a survey which shows there are only 10 acres of land being purchased and not 20 as originally understood. Constructive fraud can be proved by a showing of breach of legal duty (like using the trust funds held for another in an investment in one's own business) without direct proof of fraud or fraudulent intent. Extrinsic fraud occurs when deceit is employed to keep someone from exercising a right, such as a fair trial, by hiding evidence or misleading the opposing party in a lawsuit. Since fraud is intended to employ dishonesty to deprive another of money, property or a right, it can also be a crime for which the fraudulent person(s) can be charged, tried and convicted. Borderline overreaching or taking advantage of another's naiveté involving smaller amounts is often overlooked by law enforcement, which suggests the victim seek a "civil remedy" (i.e., sue). However, increasingly fraud, which has victimized a large segment of the public (even in individually small amounts), has become the target of consumer fraud divisions in the offices of district attorneys and attorneys general.
See also: constructive fraud exemplary damages extrinsic fraud fraud in the inducement fraudulent conveyance intrinsic fraud
*******************************************************
copied from http://dictionary.law.com/default2.asp?selected=785&bold=||||
 
However, increasingly fraud, which has victimized a large segment of the public (even in individually small amounts), has become the target of consumer fraud divisions in the offices of district attorneys and attorneys general.

I'm no law major, but you gotta think that a federal law exists to prosecute someone who intentional commits fruad of $1,000,000.
Who know, maybe only 1-200 have even signed up and Ali has spent more on that for promotion lol
 
But the reason the con is perfect is only Ali knows how many signed up. You might have personal knowledge of a few buddies who signed up bu that's it. So did Ali sign up 10 agents, 1,000 or 100,000? No one knows but him. You can't go class action without rounding up all the agents but only Ali has that info. Brilliant.

You also have to proove intent. All Ali would have to do is legtimate documented work that he tried to work with several insurance carriers and investors to get this going. Anyone can come up with that.
 
$100 fine and $110 court costs for the speeding ticket. Fines have not yet been paid. I guess he has to dip into those $10.

The other charge was driving under a ficticious/altered/revoked license but the computer hasn't updated that yet but it should by Monday.

I do not know how NC courts handles traffic fines - I can only talk about MD. In MD if you show up to court and get a fine it's payable immediately at the clerk's office same day. They will grant extensions if you tell the judge you don't have the money now and they'll normally grant extensions. Could Ali have told the judge he couldn't pay the $210 fine that day and wanted time to get it together? Lol. I guess we'll see another website pop up.
 
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Are the recruiters in on this scam? I have two different ones calling and emailing me. The first is in Las Vegas and the other is in S. CAL. Both say that they are associated with Miracle.
 
JUST FOR THE HECK OF IT...THIS WAS THE INITIAL POST IN THIS INCREDIBLY LONG THREAD:

maryjd123 vbmenu_register("postmenu_13922", true);
Expert

Join Date: Oct 2006
Location: wyoming
Posts: 116


icon1.gif
New zero premium life insurance policy

Hey you all

one of my hierachy just sent me this --- please email me at [email protected] and i will send you info as soon as I get it -- i have talked to Jim already and this is going to be awesome -- right now its in 5 states and there will be a conference call on wednesday
i will be posting this here as soon as i know what time.... i am sure everyone is going to want to get in on this... :)
btw --- i apologize for not being able to post on the forums lately -- we spend about 3 to 4 days a week in denver at the hospital... just the normal life.... but everyone please check this out and pass the info on -- according to Jim this is going to be HUGE for anyone...


There is now a Zero Premium Universal Life Insurance product available to seniors ages 65 – 85. There are two main components of this program. The first being an A+ rated name brand insurance company that provides a $15,000 death benefit. Two, a Financial Institution that pays the monthly premiums.

This is a WIN, WIN, WIN, and WIN opportunity. The insurance carrier wins because they sell a lot of policies. The Financial Institution wins because they receive an above average return on their investment. The agent wins by being paid $250 commissions on each policy. Best of all, the client wins by getting $15,000 of Universal Life Insurance at zero premiums.




Here it is

I am pleased to introduce a new zero premium life insurance policy. Yes, a zero premium universal life insurance policy! Our company has secured an exclusive national contract with an A+ rated Insurance Company and is currently contracting for sale of this product. We would like to formally extend an invitation to you and any agents associated with you to become a part of the Management and/or sales force for this revolutionary product.

PRODUCT PROFILE:

♦No Signature Required

♦No Leads Necessary

♦Can Cold Call or Knock on Doors

♦Can be Sold by Telephone

♦All Enrollment Applications must be Verified by Insurance Company

♦All Enrollment Applications can be Submitted Online (Paperless Applications)

♦$250 Commission per Application for Agents

♦10 days from Submission to pay on approved applications

♦No CMS Regulation

♦A+ Rated Name Brand Company

♦Continuous Enrollment

This product will make thousands of millionaires in the next few months. No Hype! After all it's free to the client.


email me your address and i as soon as i get this info -- i will forward it on to you..

Mary
[email protected]




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