A number of VoIP pyramid schemes have been operating in US for a number of years and scores of gullible people have been falling for it. Under this scheme false promises are made regarding earning millions of bucks through recruitment of sales representatives who would further recruit more people forming a chain. They make you feel that you can become a rich man overnight but let me tell you that in no magical formula for achieving overnight success using VoIP.

These schemes are too good to be true and you are asked to pay a 'small fee' which is generally around $500 or less in order to offer you a start up kit and training for earning millions with this scheme. My friend Patrick Barnard undertook some investigations and found out that one of the companies named ACN which is a legitimate MLM company and had helped launch Comcast is under scrutiny for deriving a part of its revenues from collecting fees from the representatives and got into a legal trap in Australia in 2004. Another company is Grouphone which has been offering VoIP pyramid scheme which looks like the one offered by ACN but has never got into legal troubles since these schemes are modeled on the path of MLM approach and it becomes difficult to point fingers at them.

So next time somebody tells you that you can make millions of dollars using VoIP without requiring any knowledge about it think a hundred times before opting for it and if anybody of you has fallen into this trap ever and lost your hard earned money do write about your experience in the comment section of this post.