Thursday, May 15, 2008

From The Fraud Files Blog: Supporting pyramid schemes is lucrative for politicians

By Tracy Coenen

As Barry Minkow (Fraud Discovery Institute), Dr. Jon Taylor, Robert FitzPatrick, Eric Scheibeler and others (including me) continue the unpopular fight against multi-level marketing companies (which are nothing more than disguised pyramid schemes), I occasionally come across items of interest…

Like this one. Did you know that Utah Attorney General Mark Shurtleff has received tens of thousands of dollars in campaign contributions from Pre-Paid Legal Services (NYSE:PPD)? He has.

From Utah’s website:

All Contributions for Shurtleff, Mark Leonard

Pre-Paid Legal Services, Inc
P.O. Box 145
Ada, OK 74820
10/23/2006 20,000.00
Pre-Paid Legal Services, Inc
P.O. Box 145
Ada, OK 74820
12/12/2007 20,000.00
Pre-Paid Legal Services, Inc
P.O. Box 145
Ada, OK 74820
04/28/2005 20,000.00
Pre-Paid Legal Services, Inc.
321 E. Main St. PO BOX 145
Ada, OK 74820
04/25/2003 20,000.00
Pre-Paid Legal Services, Inc.
321 E. Main St. PO BOX 145
Ada, OK 74820
06/14/2004 20,000.00
Pre-Paid Legal Services, Inc.
321 E. Main St. PO BOX 145
Ada, OK 74820
03/02/2004 10,000.00

$110,000 in campaign contributions just since 2003 is a nice little chunk of money, I think.

More...

2 comments:

JM Bell said...

I'm of two minds on PPL.

1. They are a Pyramid Scheme insofar as their "associates" are handled, trained and paid. I hate that.

yet ...

2. I'm a member of the service, I use it a couple of times a year, and the law firms that partner with PPL are great.

I just hate the structure they use to sell their product. I think it makes a pretty good service seem seedy and disreputable.

Chris said...

what law firms do they partner with, and how do you come to the conclusion that they are 'great'?

When someone sues Pre-Paid, do they use their partner firms to defend themselves? NO. If they're so great, then why not?