Big Booster the parent company of Just Been Paid has not take the necessary steps to establish legal entities in Canada or the USA to transact business. This is a HUGE Red Flag, and could cause the top North American promoters of Just Been Paid legal and financial issues if regulators decide to investigate and classify the program as a financial pozi scheme.
Patrick Preddy one of the world’s leading ponzi scheme investigators has brought on some serious issues with Just Been Paid, and Frederick Mann the purported founder. Although Patrick and I do not always agree on some companies, I have found him to be a fair and balanced reporter.
What I found in the above article to be a real concern is the following information:
“In a March 15 conference call, Frederick Mann, JSS/JBP’s purported operator, told members from the United States and Canada that JSS/JBP is paying them with money sent in by “new members.” Using “new” money to pay “old” members is the central element of a Ponzi scheme — although Mann did not use the phrase.
The Italian securities regulator CONSOB announced a JSS/JBP-related probe on Jan. 23.”
Now add to the above, the fact that there does not seem to be any legal entity or agent or record to represent Just Been Paid or the parent company Big Booster in Canada or the USA, this leaves the promoters and affiliates in North America open for huge legal and financial issues.
Here are some additional articles Patrick Pretty has written on Just Been Paid and some of those promoting the scheme.
Day After SEC Announces Judgments Totaling $4.2 Million Against Serial HYIP Pitchman, Another Serial Pitchman — ‘Ken Russo’ — Makes ‘I Got Paid’ Post On TalkGold For JSS Tripler/JustBeenPaid; Separately, McAfee’s ‘Site Advisor’ Declares JBP Pages ‘Dangerous’
STATUS QUO CHANGE IN ‘PROGRAM’? Conference-Call Recordings Of ‘Carl Pearson’ Go Missing From JSS Tripler/JustBeenPaid Website; Development Explained Away As Response To Potential ‘Hackers’ — Although Frederick Mann Recordings Remain
SPECIAL REPORT: Hollow Claim: Caller Brings Up AdSurfDaily Ponzi Prosecution In JSS Tripler/JustBeenPaid Conference Call; Frederick Mann Tells Affiliates Operating In United States That ‘We Don’t Have An Office In The U.S.’
Some of the other issues come from the companies own websites.
When you review the above image where Just Been Paid explains how their scheme works, you can see it is built upon 100% internal consumption. Now although the experts worldwide can’t figure out how much external sales is needed to make a company legal as a network marketing opportunity. What we do know based on the Burn Lounge case is 3% is too low! Which means Just Been Paid will not pass any legal definition as a network marketing opportunity in the USA.
Until the leadership of this company is willing to clean their act up and do whats right for their affiliates worldwide, I strongly warn North American citizens to NOT get involved.