If someone tells you "You shop, they pay," would you believe it? Actually, such "good deals" do exist! But don't get too excited—this might be a massive Ponzi scheme! It's rampant in northern China, and few have noticed because it's well-disguised.
******"My Future Network": "You shop, I reimburse," warned by regulators** "My Future Network" is exactly such a website that claims "you shop, I reimburse." On May 19, the Weifang Financial Risk Prevention Office in Shandong issued a letter stating that "My Future Network" operates on a membership model, where members purchase goods at prices more than three times the market rate, and the website returns 90% to 100% of the purchase amount after 36 days. The number of participants is huge, posing significant risks. Weifang Financial Office issued a letter warning of risks. According to the official website of "My Future Network," this website was founded in 2006 by Neighbor (Beijing) Network Technology Development Co., Ltd., claiming to create a platform that turns "consumer demand into investment." "My Future Network" claims to return 100% of the purchase amount within 10-15 days. For example, if you spend 1,000 yuan on fertilizer at a "My Future" agricultural supply store, you will get 1,000 yuan back after 10-15 days. The founder, Chu Wujun, said in a public speech that joining "My Future Network" "is enough to live a good life for a lifetime." Chu Wujun said: "You learn to earn points and coins, buy things and get reimbursed—it's that simple. Share this good news with people around you and let them join too." Reporter's On-site Investigation of "My Future Network" To learn more about "My Future Network," a reporter from CNR (China National Radio) conducted an on-site investigation. A convenience store of "My Future Network" located on Jiaomen North Road in Beijing had limited variety on the shelves, but the space of about a dozen square meters was packed with members shopping. One member bought three sets of bedding, tied them with rope, and put them in a shopping cart. The member told the reporter that since November last year, he had spent a lot of money. "I put in 3,000 yuan, and the items I got are definitely worth more than 3,000 yuan." According to "My Future Network," its business model is: attract merchants to give rebates through consumers' demand, and consumers first spend money at its offline physical stores, then the money is returned, using "free quality goods" to meet consumer demand and pay consumer investment returns. In plain terms, it's "buy first, reimburse later." The store owner at Jiaomen store introduced that as long as you accumulate enough virtual currency W coins and points on the website, your purchase amount can be reimbursed up to 100%. The owner said: "We are all members here, and we all get reimbursed. Whatever you have, you can get reimbursed, 100%." The reporter learned that members need to register with their ID cards and bank cards. The first purchase requires spending money. After that, you can accumulate virtual W coins by daily check-ins, likes, and recruiting new users. W coins can be used to reimburse purchase amounts, with a cashback cycle of about one month. Members do tasks on their phones every day, check in, just like going to work. This seemingly free model is attracting more and more consumers. According to the store owner, "My Future Network" already has more than 40 physical stores in Beijing and is expanding. It is reported that there are over 500 offline stores nationwide, and registered consumers have reached nearly 5 million. Is it really as good as it seems? In reality, it might be a Ponzi scheme with a monthly interest of 22%! Why is "My Future Network" possibly a Ponzi scheme? This starts with its business model. First, they buy cheap goods, for example, at a cost of 100 yuan, and sell them to you for 1,000 yuan. After the purchase, the cashier does not issue an invoice but generates a transaction record. After a certain period, usually 15 days, you can apply for 100% reimbursement online. Additionally, they have activities like sharing or checking in to earn points, which can also be used as money. Of course, the points from check-ins are actually very few. So how can you get more points? The direct way is to bring in new people. Does that look familiar? Yes, this method is commonly used in pyramid schemes and many Ponzi schemes. From an investment perspective, it's like you lend him 1,000 yuan, and you immediately get back 100 yuan, so he gets 900 yuan; and after 15 days, he returns 1,000 yuan to you. In effect, it's a 900 yuan investment with 100 yuan interest in 15 days, equivalent to a monthly interest rate of 22%. How does "My Future Network" achieve such high returns? Actually, you don't need to say it; everyone can figure it out. It's constantly using new borrowings to repay old ones, i.e., "robbing Peter to pay Paul." When new borrowings are insufficient to repay old ones, that's the day the "scam" collapses and the operators run away. As Yi Fei, an internet finance expert, pointed out, the "My Future Network" model is essentially a Ponzi scheme, suspected of illegal fundraising. It promises to buy back its sold goods at a certain return, and the return rate is extremely high, saying it can return 90% to 100% of the purchase amount in 36 days. If calculated monthly, the return is about 30% per month, which is terrifying. Normal investments cannot generate such returns. It's a "Ponzi scheme" that absorbs new funds to pay old returns. (Source: CNR, Grasp Wealth (ID: yanduxincaifu)) -END- The best learning platform for FMCG distributors in China Focusing on providing professional, practical, and applicable tutorials for enterprises and distributors Committed to helping Chinese FMCG distributors grow rapidly The most professional and practical knowledge base in the FMCG industry Reply with the red number below to get corresponding content Reply with number 1 to view the complete knowledge base | 001 Excellent article selection | 002 Distributor market operations | 003 Terminal visit management | 004 Sales supervisor skills | 005 Sales improvement techniques | 006 Channel expansion | 007 Managing distributors | 008 Distributor development | 009 Distributor internal operations management | 010 Team management | 011 Efficient distribution techniques | 012 Sales manager's eighteen skills | 013 KA operation methods and strategies | 014 First lesson for new salespeople | 015 Internet, brands | 016 Distributor B2B transformation | [Long press QR code to follow]