CDT Dimond
- Thread starter Phillips
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U like to assume about lot of things without asking first. I already got my profit so I am not worried about a refund. Thanks for the warning but I can take care of myself.
Handsome_Smiley
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It is a priamind scam. Only way u make money if u get someone to join under ur name. then they get some to join, u get money for that too. then as the next person joins, everyone gets more money. Soon 1 branch stops growning, your profit stops growing till no1 is joining under ur friends.
It is very simple, It can be a true business and everything. They can say they can get u millions and everything, and they are not lieing abt it. They have loop holes in their contracts that says this or that and they can't be charged with it. Also, the number one way to find out if it is a scam or real, just ask yourself one question, well a seires of questions!!!! "Does it sound to good to be true?" What's the catch?" "Why you been working for soo long but know making it big? "If you saying is true, then why you sharing with everyone?" "If it is soo easy, then why havn't other people done it and try to sell their business?"
Tousi
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CDT posted a lengthy response to the government of Maryland explaining how they are not a pyramid scheme. What I think is really happening to create this mess, mifinformation, etc is from some deaf members who, mostly unwittingly, spread information that is in direct contravention of the business practices of the CDT. That's my opinion.....the second half of this post....the first part about the company's response to Maryland is factual.
VamPyroX
bloody phreak from hell
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What is a pyramid scheme? It is when one person pays to start, then at least one person below them pays, then at lease one person below them, and so forth.
In this case, we've got one person paying $100 and expecting 2 people under that one person to spend $100 each, and so on. So, how is this not a pyramid scheme?
In this case, we've got one person paying $100 and expecting 2 people under that one person to spend $100 each, and so on. So, how is this not a pyramid scheme?
This reminds me of Avon and other business alike Amway (cant remember those name but I think it was amway?) our friends tried to pull us in and be part of it. At the top get richer and at the bottom of group people get screw up. dunno
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Memo from CDT
cdt1
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Joined: Apr 14, 2006
CDT Admin Posted: Yesterday @ 05:17 PM Msg. 1 of 1 Top
Oregon Pyramid Definition
As used in ORS 646.608 (1)(r), “pyramid club” means a sales
device whereby a person, upon condition that the person make an investment,
is granted a license or right to solicit or recruit for economic gain one or more additional persons
who are also granted such license or right upon condition of making an investment and who may further perpetuate the chain of persons who are granted such license or right upon such condition.
“Pyramid club” also includes any such sales device which does not involve the sale or distribution
scheme.
A limitation as to the number of persons who may participate, or the
presence of additional conditions affecting eligibility for such license or right to recruit or solicit or the receipt of economic gain there from, does not change the identity of the scheme as a pyramid club. of any real estate, goods or services, including but not limited to a chain letter
As used herein, “investment” means any acquisition, for a consideration other than personal services, of property, tangible or intangible, and includes without limitation, franchises, business opportunities and services.
It does not include sales demonstration equipment and materials furnished at cost for use in making sales and not for resale.
Analysis
The first condition requires that a person must make an investment in order to acquire a license or right to solicit or recruit others for personal gain. In our Diamond Trading Program there is no payment required to Market our diamonds to earn a Marketing Fee. Further, if a person decides to make a purchase, then the payment is only with respect to the purchase of those products and services provided. Therefore this condition does not apply to our Diamond Trading Program.
The second condition states that a pyramid includes a sales device which does not involve the sale or distribution of any real estate, goods or services. In our Diamond Trading Program, we sell Diamonds which would be considered Goods. Therefore this condition does not apply to our Diamond Trading Program.
For the purpose of this section, “investment” means any acquisition, for a consideration other than personal services, of property, tangible or intangible. Since all sales from CDT would be considered “personal services, of property”, namely diamonds being tangible, although diamonds historically increase in value. The purchase of a diamond cannot be interpreted as an investment as defined above. Therefore there are no investments made in respect to the Diamond Trading Program.
Conclusion
Therefore our Diamond Trading Program is not a pyramid or pyramid club under the section.
cdt1
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CDT Admin Posted: Yesterday @ 04:49 PM Msg. 1 of 1 Top
Pyramid promotional scheme Definition (MLM Law: Statutes Affecting the MLM Industry In Maryland - Jeff Babener MLM Attorney)
"Pyramid promotional scheme" means any plan or operation by which a participant gives consideration for the opportunity
to receive compensation to be derived primarily from any person's introduction of other persons into participation in the plan or operation
rather than from the sale of goods, services, or other intangible property by the participant or other persons introduced into the plan or operation.
(b) A person may not establish, operate, advertise, or promote a pyramid promotional scheme.
(c) A person who violates the provisions of this section is guilty of a misdemeanor and on conviction is subject to a fine of not more than $10,000 or imprisonment for not more than 1 year or both.
(d) It is not a defense to a prosecution under this section that:
(1) The plan or operation limits the number of persons who may participate or limits the eligibility of participants; or
(2) On payment of anything of value by a participant, the participant obtains any other property in addition to the right to receive compensation
Analysis
The first condition requires that a participant gives consideration for the opportunity. In our Diamond Trading Program, there is no payment to become part of the opportunity. Therefore the first condition does not apply.
The second condition require that a participant receives compensation primarily from the introduction of other participants into the plan or operation. In our Diamond Trading Program, there is no compensation earned from the inducement of other participants. Compensation is earned if the participant or their team market diamonds to persons who purchases those diamonds from CDT. Therefore the second condition does not apply.
The third condition requires that the compensation is earned based on things other than the sale of goods, services, or other intangible property. In our Diamond Trading Program we sell diamonds and compensation is earned based on diamond sales which are Goods. Therefore the third condition does not apply.
Conclusion
Since none of the conditions apply, the Diamond Trading Program is not a Pyramid promotional scheme based on this section.
Just posting what CDT said in their defense. Remember those are not my words..I copied and pasted from the CDT News Updates.
cdt1
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Joined: Apr 14, 2006
CDT Admin Posted: Yesterday @ 05:17 PM Msg. 1 of 1 Top
Oregon Pyramid Definition
As used in ORS 646.608 (1)(r), “pyramid club” means a sales
device whereby a person, upon condition that the person make an investment,
is granted a license or right to solicit or recruit for economic gain one or more additional persons
who are also granted such license or right upon condition of making an investment and who may further perpetuate the chain of persons who are granted such license or right upon such condition.
“Pyramid club” also includes any such sales device which does not involve the sale or distribution
scheme.
A limitation as to the number of persons who may participate, or the
presence of additional conditions affecting eligibility for such license or right to recruit or solicit or the receipt of economic gain there from, does not change the identity of the scheme as a pyramid club. of any real estate, goods or services, including but not limited to a chain letter
As used herein, “investment” means any acquisition, for a consideration other than personal services, of property, tangible or intangible, and includes without limitation, franchises, business opportunities and services.
It does not include sales demonstration equipment and materials furnished at cost for use in making sales and not for resale.
Analysis
The first condition requires that a person must make an investment in order to acquire a license or right to solicit or recruit others for personal gain. In our Diamond Trading Program there is no payment required to Market our diamonds to earn a Marketing Fee. Further, if a person decides to make a purchase, then the payment is only with respect to the purchase of those products and services provided. Therefore this condition does not apply to our Diamond Trading Program.
The second condition states that a pyramid includes a sales device which does not involve the sale or distribution of any real estate, goods or services. In our Diamond Trading Program, we sell Diamonds which would be considered Goods. Therefore this condition does not apply to our Diamond Trading Program.
For the purpose of this section, “investment” means any acquisition, for a consideration other than personal services, of property, tangible or intangible. Since all sales from CDT would be considered “personal services, of property”, namely diamonds being tangible, although diamonds historically increase in value. The purchase of a diamond cannot be interpreted as an investment as defined above. Therefore there are no investments made in respect to the Diamond Trading Program.
Conclusion
Therefore our Diamond Trading Program is not a pyramid or pyramid club under the section.
cdt1
Senior
Posts: 193
Joined: Apr 14, 2006
CDT Admin Posted: Yesterday @ 04:49 PM Msg. 1 of 1 Top
Pyramid promotional scheme Definition (MLM Law: Statutes Affecting the MLM Industry In Maryland - Jeff Babener MLM Attorney)
"Pyramid promotional scheme" means any plan or operation by which a participant gives consideration for the opportunity
to receive compensation to be derived primarily from any person's introduction of other persons into participation in the plan or operation
rather than from the sale of goods, services, or other intangible property by the participant or other persons introduced into the plan or operation.
(b) A person may not establish, operate, advertise, or promote a pyramid promotional scheme.
(c) A person who violates the provisions of this section is guilty of a misdemeanor and on conviction is subject to a fine of not more than $10,000 or imprisonment for not more than 1 year or both.
(d) It is not a defense to a prosecution under this section that:
(1) The plan or operation limits the number of persons who may participate or limits the eligibility of participants; or
(2) On payment of anything of value by a participant, the participant obtains any other property in addition to the right to receive compensation
Analysis
The first condition requires that a participant gives consideration for the opportunity. In our Diamond Trading Program, there is no payment to become part of the opportunity. Therefore the first condition does not apply.
The second condition require that a participant receives compensation primarily from the introduction of other participants into the plan or operation. In our Diamond Trading Program, there is no compensation earned from the inducement of other participants. Compensation is earned if the participant or their team market diamonds to persons who purchases those diamonds from CDT. Therefore the second condition does not apply.
The third condition requires that the compensation is earned based on things other than the sale of goods, services, or other intangible property. In our Diamond Trading Program we sell diamonds and compensation is earned based on diamond sales which are Goods. Therefore the third condition does not apply.
Conclusion
Since none of the conditions apply, the Diamond Trading Program is not a Pyramid promotional scheme based on this section.
Just posting what CDT said in their defense. Remember those are not my words..I copied and pasted from the CDT News Updates.
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cdt1
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Joined: Apr 14, 2006
CDT Admin Posted: Yesterday @ 04:13 PM Msg. 1 of 1 Top
Multi-level marketing Definition
1) In a typical multi-level marketing or network marketing arrangement, individuals associate with a parent company as an independent contractor or franchisee,
2) and are compensated based on their sales of products or service, as well as the sales achieved by those they bring into the business.
3) This is like many franchise companies where royalties are paid from the sales of individual franchise operations to the franchisor as well as to an area or region manager.
The definition of Multi-Level Marketing has been broken separated into the 3 sections above for simplicity.
Analysis
The first section applies to our business and almost any business.
For the second section of the definition, since IDTs only market our products but don’t sell our products, CDTs DTP already falls outside of the MLM definition.
“CDT participants receive payment from CDT if they or their team market diamonds to a person who purchases those diamonds from CDT. CDT participants are not involved in any of the essential elements of the purchase and sale transactions, being the making or receiving of the offer or the making or receiving of the acceptance and agreeing to the consideration, but rather all transactions are entirely arranged and effected by CDT.” (DTP Facts)
Assumption: However if we assumed that the successful marketing of diamonds which generates sales for CDT is equivalent to a sale made by the IDT we would delve deeper into the DTP.
Using the above assumption that marketing is equivalent to a sale we would have to determine if a marketing fee is paid based on the sales that you make as well as the sales from the people you bring into the business.
CDTs DTP consists of creating marketing teams and dividing them based on a number of criteria. Based on the criteria you may end up on a team (diamond table) with people that you brought to the business, or you may end up on a team where there is nobody you brought into the business.
If you are on a team with some people you never brought into the business, and they generate sales, you can earn a marketing fee. Therefore you would earn a marketing fee for sales derived from IDTs who are NOT yourself, and are NOT people you braught into the business. Also people who you brought into the business may generate sales and you are not compensated because they are currently on a different marketing team (diamond table). Both of the above situations happen very often in the DTP.
Based on the above fact, the marketing fee is not determined based on sales generated from yourself and your downline (people you brought into the business)even though it may occur. The marketing fee is earned based on CDTs entire marketing force and the current team you are on regardless of downline. The Freebee system and Even Split are majour factors for these situations.
Therefore CDTs DTP does not fall nder the Multi-Level Marketing definition.
Direct Sales Definition
Direct selling: Selling without the use of a retail outlet. Often takes place in a consumers home or work place.
“CDT participants receive payment from CDT if they or their team market diamonds to a person who purchases those diamonds from CDT. CDT participants are not involved in any of the essential elements of the purchase and sale transactions, being the making or receiving of the offer or the making or receiving of the acceptance and agreeing to the consideration, but rather all transactions are entirely arranged and effected by CDT.” (DTP Facts)
The above definition requires that some of the essential elements of the sale take place outside of the retail store. At CDT we only sell diamonds directly through our retail office location or through our website. IDTs do NOT sell or offer for sale or solicit orders on behalf of CDT. IDTs only Market for CDT. Effective marketing will always take place outside of the retail location.
Our Independent Diamond Trader Agreement States:
“Diamond Traders shall not represent that CDT sells its products or services in any other manner.” (IDT Agreement)
“CDT does not authorize Diamond Traders to engage in “direct sales” of CDT products and/or services on behalf of CDT. Accordingly, Diamond Traders are not authorized to sell CDT products and services directly to the public on behalf of CDT.” (IDT Agreement)
As you can see above, we have designed the Diamond Trading Program in order to ensure we are not Direct Sales or Multi-Level Marketing, which allows us to operate in jurisdictions where MLM and Direct Sales is illegal.
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Edited by cdt1 on Nov 27, 2006 at 04:17 PM
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cdt1
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Joined: Apr 14, 2006
CDT Admin Posted: Yesterday @ 03:55 PM Msg. 1 of 1 Top
Facts on CDTs Diamond Trading Program
1. A person does not make any payment to become a CDT participant.
2. Any and all payments by CDT participants are made to CDT and never to another participant.
3. Any and all payments made by CDT participants to CDT are in respect of the purchase of diamonds.
4. CDT participants do not receive any benefit for introducing new CDT participants.
5. CDT participants receive payment from CDT if they or their team market diamonds to a person who purchases those diamonds from CDT. CDT participants are not involved in any of the essential elements of the purchase and sale transactions, being the making or receiving of the offer or the making or receiving of the acceptance and agreeing to the consideration, but rather all transactions are entirely arranged and effected by CDT.
6. Participants must comply with all laws (whether statutory or common), rules, regulations and codes of conduct for the territory in which they carry on business.
All of the above facts should be taken into consideration when comparing the Diamond Trading Program to any laws.
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Edited by cdt1 on Nov 27, 2006 at 04:14 PM
This is for information only..no more bashing nor insulting me pls. I am remaining nuetral (for those who doesnt know what it means..it means I neither support nor against) about CDT for now until after everything with all the lawyers (CDT's lawyers, MD Attorney General, and whoever is involved) make a final announcement.
Just telling u what CDT and the lawyers have said so far about their Diamond Trading Program.
There is no top dog in the DTP collecting all the money. It doesnt work that way with this program.
Senior
Posts: 193
Joined: Apr 14, 2006
CDT Admin Posted: Yesterday @ 03:55 PM Msg. 1 of 1 Top
Facts on CDTs Diamond Trading Program
1. A person does not make any payment to become a CDT participant.
2. Any and all payments by CDT participants are made to CDT and never to another participant.
3. Any and all payments made by CDT participants to CDT are in respect of the purchase of diamonds.
4. CDT participants do not receive any benefit for introducing new CDT participants.
5. CDT participants receive payment from CDT if they or their team market diamonds to a person who purchases those diamonds from CDT. CDT participants are not involved in any of the essential elements of the purchase and sale transactions, being the making or receiving of the offer or the making or receiving of the acceptance and agreeing to the consideration, but rather all transactions are entirely arranged and effected by CDT.
6. Participants must comply with all laws (whether statutory or common), rules, regulations and codes of conduct for the territory in which they carry on business.
All of the above facts should be taken into consideration when comparing the Diamond Trading Program to any laws.
--------------------------------------------------------------------------------
Edited by cdt1 on Nov 27, 2006 at 04:14 PM
This is for information only..no more bashing nor insulting me pls. I am remaining nuetral (for those who doesnt know what it means..it means I neither support nor against) about CDT for now until after everything with all the lawyers (CDT's lawyers, MD Attorney General, and whoever is involved) make a final announcement.
Just telling u what CDT and the lawyers have said so far about their Diamond Trading Program.
There is no top dog in the DTP collecting all the money. It doesnt work that way with this program.
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If people told u it was easy, they have lied to u cuz like any other business, it is not easy and it takes some effort. Gee, some people just give out the wrong info. CDT never promised us millions of dollars. Where did u get that info? CDT just offered an opportunity to earn money. It is only 2 years old so it is still too early to say if it is successful or not. The catch is that it does take some work. I always empasized that CDT is not for everyone and it is not easy. I learned a lot about so many things from this experience.
I can understand your point of view and I respect that. I just hope the MD Attorney General can make a clear statement about CDT soon after he reviews the program. If he declares it illegal, then I will learn my lesson as well as thousands of others. If he declares it legal, then I guess it is a new kind of business idea.
Right now, CDT has a lawyer here in MD so I am just waiting and see what the outcome will be. If this is legal or not here in the US. I prefer to hear it directly from our US govt straight out not "It MAY be illegal or It may be this or that." I want this sentence "Yes, CDT is legal." "No, CDT is not legal."
If anyone HAS any hard proof with that statement, pls let me know. I would be happy to get that. I am very open to anything but I dont like it when people insult me. It would be greatly appreciated.
Thanks
DeafSCUBA98
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other note.. to remind you all.
if you're earning money from other countries. there are many many people don't know this.
once you earn money from other countries even canada or mexico. there's a double tax you are required to pay US income tax that you made international.. also.. you are required to pay candian income taxes. (YES BOTH)
thus you didn't do it.. and they found out you didn't do this then IRS will do something or candian gov will do something with ur income.
if you're earning money from other countries. there are many many people don't know this.
once you earn money from other countries even canada or mexico. there's a double tax you are required to pay US income tax that you made international.. also.. you are required to pay candian income taxes. (YES BOTH)
thus you didn't do it.. and they found out you didn't do this then IRS will do something or candian gov will do something with ur income.
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so I show note to my friend who is very involved with CDT however and that person reply me and Here
tell that person every states and any other counturies have different
policies for IRS same idea for all other kinds of investments out there
in the world
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I got message another person..
yes better pay tax instead of hide will trouble.....soo still profits
anyways)
for example if get 10k then means pay 500 tax....then left 9500 still
alot money same idea for lottery winnings
They did get 10k 18K etc.. with deaf witness umm
yes better pay tax instead of hide will trouble.....soo still profits
anyways
)for example if get 10k then means pay 500 tax....then left 9500 still
alot money
same idea for lottery winningsThey did get 10k 18K etc.. with deaf witness umm
Nothing but a scam.
I see people getting scammed all the time.Calling CDT and freaking out about where their money is.
DONT GIVE YOUR MONEY AWAY ON SUCH A SCAM.
Such a shame.
But if you think CDT is leagal then give me a call I have some beach front property for sale in Nevada.
I see people getting scammed all the time.Calling CDT and freaking out about where their money is.
DONT GIVE YOUR MONEY AWAY ON SUCH A SCAM.
Such a shame.
But if you think CDT is leagal then give me a call I have some beach front property for sale in Nevada.
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That issue has been brought up many times. My husband job has close ties with the IRS. He said that if anyone earns more than 10K a year from anything, have to report it when filing the annual taxes. CDT sends invoices with the company's ID number with the diamonds and checks for tax purposes. There is a section in the tax forms for international earnings where anyone can fill out their earnings. Someone sent me an email outlining the rules. I just need to find it.
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Posted By itagal on Nov 8, 2006 11:25 PM
XXX, all US tax laws apply to anyone FROM US.
I am sure there is a limit of earnings BEFORE you have to report o IRS that you had income earnings and for sure at least ONE cycle of 2,500 will NOT have to be reported. I am almost sure you have to have at least 10,000 earnings BEFORE you have to report it. A quick call to an "H & R Block" will give you the answer.
At the end of the day, I would get the answer from some like H & R, but in the meantime, tell your prospect..."look, you do not have to worry about reporting it UNTIL you are making over 10,000 ...(whatever the firgure turns out to be)....so let's get you going and cycle at least ONCE - THEN qworry about it. IF you think you are making "too" much money frm CDT, then you can always NOT re enter the system again after your next cycle. They should be so lucky....
I am sure you can also do a quick google search and get that answer as well in minutes.
Lukim Yu,
Nancy
Nancy and Mark Bishop
Skype: vanuatubishops
Welcome to luckydiamond's Web Site an Independent Canadian Diamond Trader .
DTP » Looking for deaf CDT members (Total replies: 69)
Posted By julygal1 on Nov 8, 2006 06:31 PM
Hello Everybody!
Im XXX from Fort worth, TX. I joined CDT in the last week of July. I am now collector in feeder. I have about 35 people in my downline. I need one more to cycle out to DTP! ANyone know if CDT will affect SSI or SSDI? A lot of deaf people are concerned about this. What about tax? ANyone know if we have to report to IRS? If so, how much? These are the questions people asks me when I try to make my sales.
Thanks!
XXXX
It is listed on the agreement when signing up with CDT about taxes. The CDT ID number for tax purposes is called the GST.
Frequently Asked Questions ( ONLY IDT ) » REGARDING PAYING TAXES (Total replies: 10)
Posted By cdt1 on Sep 11, 2006 03:11 PM
Diamond Traders are responsible for remitting any and all taxes and other such payments to their respective governments based on the laws and regulations applicable to the Diamond Trader. CDT is not responsible for any such remittances and Diamond Trader hereby indemnifies CDT from and against any claim made by any authority in respect of such payments. You must provide your GST number on your invoice to CDT to ensure you receive GST.
THIS INFORMATION IS ON THE INDEPENDENT DIAMOND TRADER AGREEMENT.
XXX, all US tax laws apply to anyone FROM US.
I am sure there is a limit of earnings BEFORE you have to report o IRS that you had income earnings and for sure at least ONE cycle of 2,500 will NOT have to be reported. I am almost sure you have to have at least 10,000 earnings BEFORE you have to report it. A quick call to an "H & R Block" will give you the answer.
At the end of the day, I would get the answer from some like H & R, but in the meantime, tell your prospect..."look, you do not have to worry about reporting it UNTIL you are making over 10,000 ...(whatever the firgure turns out to be)....so let's get you going and cycle at least ONCE - THEN qworry about it. IF you think you are making "too" much money frm CDT, then you can always NOT re enter the system again after your next cycle. They should be so lucky....
I am sure you can also do a quick google search and get that answer as well in minutes.
Lukim Yu,
Nancy
Nancy and Mark Bishop
Skype: vanuatubishops
Welcome to luckydiamond's Web Site an Independent Canadian Diamond Trader .
DTP » Looking for deaf CDT members (Total replies: 69)
Posted By julygal1 on Nov 8, 2006 06:31 PM
Hello Everybody!
Im XXX from Fort worth, TX. I joined CDT in the last week of July. I am now collector in feeder. I have about 35 people in my downline. I need one more to cycle out to DTP! ANyone know if CDT will affect SSI or SSDI? A lot of deaf people are concerned about this. What about tax? ANyone know if we have to report to IRS? If so, how much? These are the questions people asks me when I try to make my sales.
Thanks!
XXXX
It is listed on the agreement when signing up with CDT about taxes. The CDT ID number for tax purposes is called the GST.
Frequently Asked Questions ( ONLY IDT ) » REGARDING PAYING TAXES (Total replies: 10)
Posted By cdt1 on Sep 11, 2006 03:11 PM
Diamond Traders are responsible for remitting any and all taxes and other such payments to their respective governments based on the laws and regulations applicable to the Diamond Trader. CDT is not responsible for any such remittances and Diamond Trader hereby indemnifies CDT from and against any claim made by any authority in respect of such payments. You must provide your GST number on your invoice to CDT to ensure you receive GST.
THIS INFORMATION IS ON THE INDEPENDENT DIAMOND TRADER AGREEMENT.
IcedTeaRulz
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Heard that many people resigned/quit from CDT cuz they realized that it is a SCAM! Good thing that I didn't join.
VamPyroX
bloody phreak from hell
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One time, I was in a computer lab at RIT. One guy spent a half hour trying to convince me to join CDT. He was telling me how it would be very successful and that I would make a lot of money. I told him that if he comes to me a year later and proves that he has a lot of diamonds and a lot of money, then I would join.
Well, a year later... I bumped into him at Walmart. I asked him how he was doing, he said he quit. He made nothing... actually lost what he spent. :roll:
IcedTeaRulz
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Oh really? I'm sure that he learned his lesson!
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