Fraudulent Money-Making Schemes: Background information when reading The Dream Merchant

Summary |  Excerpt |  Reviews |  Beyond the Book |  Readalikes |  Genres & Themes |  Author Bio

The Dream Merchant

By Fred Waitzkin

The Dream Merchant
  • Critics' Opinion:

    Readers' Opinion:

     Not Yet Rated
  • Hardcover: Mar 2013,
    304 pages.

    Publication Information

  • Rate this book


Buy This Book

About this Book

Beyond the Book:
Fraudulent Money-Making Schemes

In The Dream Merchant, Jim made his money in fraudulent ways. Aided by his business partner Marvin Gessler, who was the mastermind of the fraud, Jim made millions through elaborate pyramid schemes.

A pyramid scheme Pyramid schemes rely on recruiting buyers who then recruit other buyers and so on. The original buyer, the con man, needs other buyers to generate sales before he starts to make money. As each new recruit pays, the original buyer gets a cut. The scheme quickly collapses once the people at the bottom cannot recruit buyers and the money does not pay out. The Wealth Pools International scandal in 2007 is an example of a complex pyramid scheme. Wealth Pools claimed to sell foreign language DVDs through a global network of salespeople. New salespeople purchased DVDs that they would try to sell for profit, but these salespeople only saw profits when they recruited new salespeople, not from DVD sales. The scheme affected nearly 70,000 people in 64 countries and cost participants $132 million...

Members Only

BookBrowse's reviews and backstories are a members-only benefit. Full information is available on books for a limited time when they are featured as "Editor's Choices" - but that time has now elapsed for this book.

Find out more
Member Benefits

Join Now!

Check the advantages!
Just $10 for 3 months or $35 for a year

    •  
    • FREE
    • MEMBER
    • Range of media reviews for each book
    • Excerpts of all featured books
    • Author bios, interviews and pronunciations
    • Browse by genre
    • Book club discussions
    • Book club advice and reading guides
    • BookBrowse reviews and "beyond the book" back-stories
    •  
    • Reviews of notable books ahead of publication
    •  
    • Free books to read and review (US Only)
    •  
    • Browse for the best books by time period, setting & theme
    •  
    • Read-alike suggestions for thousands of books and authors
    •  
    • 'My Reading List" to keep track of your books
    •  

Editor's Choice

  • Book Jacket: The Promise
    The Promise
    by Ann Weisgarber
    Canadian author, Lucy Maud Montgomery of Anne of Green Gables fame, once wrote that "...all things ...
  • Book Jacket: Black Moon
    Black Moon
    by Kenneth Calhoun
    The popularity of book-turned-movie World War Z and television series The Walking Dead points to a ...
  • Book Jacket: Hyde
    Hyde
    by Daniel Levine
    In Robert Louis Stevenson's 1886 novel, The Strange Case of Dr. Jekyll and Mr. Hyde, the story ends ...

First Impressions

Members read and review books ahead
of publication. See what they think
in First Impressions!

Books that
expand your
horizons.

Visitors can view a lot of BookBrowse for free. Full access is for members only

Find out more.

Book Discussions
Book Jacket

Sailor Twain
by Mark Siegel

Published Mar. 2014

Join the discussion!

Win this book!
Win The Steady Running of the Hour

The Steady Running of the Hour

"Exciting, emotionally engaging and amibtious. I loved it!" - Kate Mosse

Enter

Word Play

Solve this clue:

I T T O A Eye

and be entered to win..

Books thatinspire you.Handpicked.

Books you'll stay up all night reading; books that will whisk you to faraway places and times, books that will expand your mind and inspire you -- the kinds of books you just can't wait to tell your friends about.