SEC targets alleged Web pyramid scheme
Source: CNET - Posted by Benjamin D. Thomas   
Government For a $1,495 membership fee plus $149 a month, Le Club Prive offered investors a chance to earn commissions by recruiting new members to the club, the Securities and Exchange Commission said in its civil suit filed in federal court in . . . For a $1,495 membership fee plus $149 a month, Le Club Prive offered investors a chance to earn commissions by recruiting new members to the club, the Securities and Exchange Commission said in its civil suit filed in federal court in Dallas. Investors were to receive $500 for each new member they recruited. Members were promised access to the club's Internet "backroom," containing investment recommendations, the SEC said.

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