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CHARLOTTE, NC - The recent SEC Investigation of Prosperity Automated System hasgiven The 1 Step System a tremendous boost in sales of the Online Marketers Toolkit.The following report is one of many articles describing the problems plaguing PAS. ----------------------------- ------------------------------ ------------------------------ ---------------"From Bloomberg News September 28, 2006 The Securities and Exchange Commission is seeking to shut down a network of 25,000websites, accusing operators of running a $15-million pyramid scheme that promisesto shower participants with easy cash.
Prosperity Automated System, which bills itself as a marketing network, "is destinedto collapse and leave the vast majority of investors with substantial losses," theSEC said Wednesday.
The complaint targets the network and its creator, William M. Osterhout of CitrusHeights, Calif.
The websites, with such names as lazyandrich.net and profits4doingnothing.comtypic ally offer testimonies from people claiming to make thousands of dollars bybuying into the group, the SEC said.
One site says the network "Showers You with Hands-Free Cash!"
Visitors to the sites fill out forms and are later called by representatives sellingmemberships for as much as $3,895, the SEC said. New members are issued their ownwebsites and eventually can receive a share of the money when more people buymemberships via their sites, according to the allegations.
"Websites that come with the memberships do nothing but sell more memberships," saidStephen Donahue, an SEC enforcement official in Atlanta.
Though some websites offer links to products or services, "those were attempts tocloak what is a fraudulent pyramid scheme, giving it the appearance of multilevelmarketing," Donahue said.
The defendants' attorney, D.J. Poyfair, could not be reached for comment."------------------- ------------------------------ ------------------------------ ----------------------------T he creation of Automated Internet Business Systems does eliminate the biggestobstacles to making money online. Internet Marketing leaders Rod Stinson and ChrisKoehl had a vision when they created the 1 Step System. By combining Automation,Education and Opportunity the 1 Step System would be complete business model thatcould deliver results. The Online Marketers Toolkit provides a comprehensive Stepby Step training that includes How-To Videos, Software and A-Z Advertising Tools andResources. The 1-Step Business Model was designed for the person who wants tolearn the only way to promote products and services online.
It is estimated that almost 8,000 people join a Home Internet Business every day inthe United States
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