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VRT takes 'Fire' offline: 'Diepenbeek participant engaged in hierarchical scheme'

VRT takes ‘Fire’ offline: ‘Diepenbeek participant engaged in hierarchical scheme’

Invest a lot of money early, think about your expenses and retire really fast instead of working for life. This is the intention of the seven people in the documentary series Fire: early retirement It can be seen. The series received a lot of criticism, including from the FSMA, in part because some participants called on them to take the necessary risks on the exchange. While the FSMA advises against it.

pyramid diagram

from search by VRT News Moreover, it now appears that WS, a 28-year-old man from Diepenbeek, is involved in a Russian pyramid scheme and is therefore not as rich as he thinks. The series brings a daily profit of at least 1.4 percent, which experts have already questioned in recent weeks. And it turns out that he makes his money through the platform future trade, but it is known that this is a Russian pyramid scheme. In other words: Twenty things are uprooted.

In the pyramid scheme, victims are initially blinded, according to the FSMA website. “The fraudster receives the first deposits from investors who are blinded by the expected profits. But contrary to what they are told, he does not invest their money. The pyramid scheme means that the participants themselves have to bring in new investors, so that they can make more profits. The new investors who enter the system bring in Money that is not reinvested, but is used in part to compensate the first participants. All investors together form a pyramid. The higher the level of the pyramid, the more likely you are to make a lot of money. As with a Ponzi scam, fraudsters will fall through the loopholes if too few come in. of new investors.

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The public broadcaster has now decided to discontinue the documentary series. “to Fire We have attempted to depict a current, albeit controversial, phenomenon with real stories and people. It was clear to every attentive viewer that not every story in the series is equally appropriate as a role model. The fire was not intended to be an educational program. But as pressure continues to give the series a different invitation than intended and this unfortunately undermines VRT’s broad and valuable educational offering, we’ve decided to remove the series from the show. discussion about Fire In the meantime, I’ve taken a path that the chain didn’t want to respond to at all, darkening its purpose.”

Participants risk not only losing their money, but also “complicity in a criminal offence”. “After all, if an investor, in a pyramid scheme, receives a fee for bringing new investors into the pyramid, rather than selling or consuming products, this constitutes an unfair trading practice,” according to the FSMA.

Currently taken

The public broadcaster has now decided to discontinue the documentary series. “to Fire We have attempted to depict a current, albeit controversial, phenomenon with real stories and people. It was clear to every attentive viewer that not every story in the series is equally appropriate as a role model. Fire It was not intended to be an educational program. But as pressure continues to give the series a different invitation than intended and this unfortunately undermines VRT’s broad and valuable educational offering, we’ve decided to remove the series from the show. discussion about Fire In the meantime, I’ve taken a path that the chain didn’t want to respond to at all, darkening its purpose.”

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