glenn turner pyramid scheme

0000004799 00000 n It all carne tumbling down eventually. The distributors could make thousands. If anybody was hurt by our program or suffered because of it, I am sure sorry, Rechtor said. Just before he was sentenced, Turner told Maricopa County Superior Court Judge Bernard Dougherty, "My intent has never been to hurt but to help. 0000041122 00000 n See the article in its original context from. 0000007782 00000 n If he never quite tells us what made Glenn Turner runthat is was he a con artist or merely an overeupeptic free enterpriser?no one else knew either, including perhaps Turner. C-74-1067-LHB., No. "[1], Sales Dynamics was another program of instruction for pay available to Holiday Magic Distributors to help them in their business activities. Pyramid schemes are inherently unstable and eventually must collapse. Annotated bibliography on chain letters and pyramid schemes. ", United States Congress. 0000004278 00000 n 0000002472 00000 n Lawyers for Turner and Rector asked Dougherty to let their clients remain free while they appealed their convictions. Our intent was to help people. [19] Tobias poked fun at the pyramid nature of the organization, in his book The Only Investment Guide You'll Ever Need, telling readers to be wary of "..Holiday Magic - where the big money to be made was not in selling cosmetics, but in selling franchises to sell franchises (to sell franchises).."[20] Howe wrote in the San Francisco Chronicle that Holiday Magic was "..one of the largest of all pyramid schemes.."[21], Holiday Magic is used as an example in graduate level criminal justice coursework to analyze the nature of corporate scams. "Franchising in Hard Times: Hearing Before the Committee on Small Business, House of Representatives. 235 37 [5] Turner, the son of a sharecropper, told people they could all be rich and successful like him if, that is, they made an investment in his multi-level marketing company. . PHOENIX, ARIZ. Glenn W. Turner, a farmboy who built and lost a multimillion-dollar financial empire with his pyramid sales schemes, lost his freedom Thursday. NEWS RELEASE SUMMARYSeptember 1, 2021. 0000031956 00000 n Psychiatrist Alfred Adler, writing in the early 20th century, argued people could change habits by embracing an act as if strategy: assume a behavior and, eventually, it will become real. They drove new Cadillacs and wore alligator shoes. One of them was Bob Hattaway, a former state legislator from Altamonte Springs who came to Arizona to testify for Turner. House Committee on Small Business, 1991. Under this type. [25] The Office of the State Attorney General in Maine, United States cites In re Holiday Magic, Inc., 84 F.T.C. 0000045154 00000 n . 0000003839 00000 n Glenn Turner was, as he liked to tell anyone within earshot of his pitch, sharecropper's son 'and a gradeschool dropout and had a harelip (albeit corrected by surgery) who had lifted himself. [18] Clarke referred to the company as an "illegitimate" business. The guy at the top could make millions. At the same time, the federal government became less likely to prosecute obvious malfeasance. . By the spring of 1969, Turner was living in a large home on Lake Maitland near Orlando Florida, and "had eight Cadillacs and a Rolls-Royce, three Learjets and a closetful of tailor-made suits and alligator shoes". The Dream, a podcast about multi-level marketing, discussed Holiday Magic and William Penn Patrick. "Holiday Magic Inc.: An Anatomy of a Scam", United States Securities and Exchange Commission, MLM Law - Lawyer Grimes & Reese PLLC - Attorney Specializing in Multilevel Marketing - HOLIDAY MAGIC, INC., ORDER, ETC., IN REGARD TO ALLEGED VIOLATION OF SEC. Originally the organization distributed goods such as home-care products and cosmetics. Turner was a former sewing machine salesman and son of a South Carolina sharecropper and an unwed mother, born with a cleft palate and a hair lip, who dropped out in the eighth grade, did a short stint in the U.S. Air Force before successfully finishing a school for those who had dropped out of high school. Turner and his best friend, Edward G. Rector, were each sentenced to seven years in state prison. Mencken, Mr. Maxa says, would have loved Glenn Turner as one of those colorful rogues who enliven the American scene, a sort of cross between Elmer Gantry and Charles Ponzi, whose name is to financial pyramids what Tutankhamen's is to the original. (As for The Apprentices more famous host Donald Trump, a nepo baby who cosplayed a successful mogul on the show we all know how that turned out.). Its not clear who originated the exact wording of fake it till you make it, or how Turner and his followers adopted it. In the end, Turner was saved by New Orleans evangelist, known as the Chaplain of Bourbon Street, who also pointed the way to fiscal salvation by introducing Turner to his own business managera former minister himself. Its inherently manipulative, deceptive, fraudulent, inauthentic, says Robert L. FitzPatrick, co-author of False Profits: Seeking Financial and Spiritual Deliverance in Multi-Level Marketing and Pyramid Schemes. Yet, he adds, its just entered the culture, and its completely normalized.. 0000001791 00000 n Turner ran in the Democratic primary for the United States Senate election in Florida, 1974, but lost. Subcommittee on Consumer Affairs. Attached to the side stands connected a lone, cylindrical tower that contains a stairwell on the inside. Turner, imprisoned in Arizona prison for fraud, has owed the IRS millions of dollars in back taxes for more than a decade, and the agency has succeeded in foreclosure proceedings against the property in Seminole County. [7] He told reporters as he was led away to jail: The good that I have done outweighs the bad. The government says Turner owes tens of millions of dollars in taxes and judgments, which have hopelessly tangled the ownership of his partially completed castle on a lake in south Seminole County. PHOENIX, ARIZ. Glenn W. Turner, a farmboy who built and lost a multimillion-dollar financial empire with his pyramid sales schemes, lost his freedom Thursday. endstream endobj 165 0 obj <>stream 0000032500 00000 n PHOENIX, Ariz. -- Promoter Glenn Turner, who became a millionaire through self-motivation businesses, was sentenced with his business partner to seven years in prison Thursday for defrauding. DARE TO BE GREAT. 0000004278 00000 n Glenn Turner was, as he liked to tell anyone within earshot of his pitch, sharecropper's son and a gradeschool dropout and had a harelip (albeit corrected by surgery) who had lifted himself up by his expensive unborncalfskin bootstraps to the leadership of a $100 million business empire. Well, it was never really worth all that, and when blizzard of Federal and state charges of fraud, securities irregularity and other actions drove him nearly into bankruptcy, he ended up selling one of his companies for $15,000. [7], When some salespeople found customers in short supply, Turner encouraged them to 'fake it until you make it,' by wearing expensive clothes and waving around $100 bills to lure in others". The $5,000 investment paid for motivational seminars and tapes, but the indictment said the real business of the pyramid operation was to induce more people to invest money to become salespeople who, in turn, were expected to recruit others. While prosecutors and defense attorneys haggled over legal issues for an hour before the sentencing, Turner, wearing a blue suit, boots and a shirt with a wrinkled collar, yawned and winked at more than 20 friends and supporters in the courtroom. But his empire collapsed after state and federal investigators accused him of operating pyramid schemes that bilked thousands of investors. 0000041122 00000 n v. Robert W. Warren et al. Glenn W Turner, who started in Network Marketing in the late 60s and you will be blown away by the income earnings that he shares from that time. As a subscriber, you have 10 gift articles to give each month. 1974., May 20, 1974. [11] 1974 hearings before the Congressional Oversight panel of the Federal Trade Commission described Holiday Magic as a "Multi-level marketer of cosmetics", that used an "unfair and deceptive pyramid distribution scheme". 2(a) OF THE CLAYTON ACT Docket 8834 (1974), MLM Law - Lawyer Grimes & Reese PLLC - Attorney Specializing in Multilevel Marketing - Marshall v. Holiday Magic, Inc. (1977) 550 F.2d 1173, Door to Door Selling, Pyramid Selling, Multilevel Marketing, "L.A. Con Artist Behind Alleged Electricity Scam: Pyramid scheme linked to coming deregulation", "First Amendment Protection for Commercial Advertising: The New Constitutional Doctrine", "The Chaos of Multilevel Marketing and Pyramid Sales Laws: A Federal Remedy", In Re Koscot Interplanetary Inc., 86 F.T.C. what would happen when these distributorships reached the saturation point, when there was no one left to buy a distributorship, and so many people selling cosmetics that it was impossible to recover the large investment from the small cosmetics commissions? According to 2019 surveys done by the Pew Research Center, almost half of us say Americans are not as reliable as in the past. Turner and his best friend, Edward G. Rector, were each sentenced to seven years in state prison. An interesting man, Glenn Turner, and Rudy Maxa, a Washington Post reporter, has an interesting problemwhat do you do with a con man who doesn't know he's a con man? Employing a pyramid selling scheme and an evangelical, downhome platform style, Turner cajoled thousands of ordinary folks into putting up varying amounts, in return for which they would sell Turner's beauty products. Turner was a former sewing machine salesman and son of a South Carolina sharecropper and an unwed mother, born with a cleft palate and a hair lip, who dropped out in the eighth grade, did a short stint in the U.S. Air Force before successfully finishing a school for those who had dropped out of high school. v. Holiday Magic, Inc., et al., N.D. California, Civil Action No. Lotstein said the men must serve at least two-thirds of the sentence, more than 4 1/2 years, before they are eligible for parole. But this salesman extraordinaire in flashy suits was once all but omnipresent in American life. SAN DIEGOGlenn Arcaro of Los Angeles pleaded guilty today in federal court for his participation in a massive conspiracy involving BitConnect, a cryptocurrency investment scheme, which defrauded investors from the United States and abroad of over $2 billion. Jurors found them innocent of 27 counts of securities violations involving Challenge Inc., a motivational company. Eventually, the truth comes out. 0000006933 00000 n Mr. Turner and Mr. Rechtor, who also received seven years, were. [3] An estimated 70 companies (as of 1972)[4] were owned by Turner (owned by Glenn W. Turner Enterprises, Inc.):[1] Dare to Be Great, which sold motivational and self-improvement courses, and also functioned as a multi-level marketing company;[5] Turner had also briefly worked for Holiday Magic, another multi-level marketing company that sold home-care products and cosmetics, and through related companies sold self-improvement programs. Both stood with their hands folded behind their backs as Dougherty announced the prison terms. Rector said the men -- Douglas Beekman of Apopka and Richard Mailman of Altamonte Springs -- never voiced such a concern to him. 0000023769 00000 n It is apparent from this Court's findings of fact that the defendants are promoting a type of scheme commonly known as a pyramid operation. Within a few years Turner's enterprises had made an estimated $300 million. One report has him convicted of running a pyramid scheme in Arizona in 1985 and released after five years in prison. 0000002742 00000 n 256 pp. Glenn W. Turner, 53, was sentenced along with Edward G. Rechtor by Superior Court Judge Bernard J. Dougherty, who said he had received scores of letters on behalf of the two Goldenrod, Fla., men. Holiday Magic Inc. et al. Self-help culture took that to ludicrous places: Whatever the mind can conceive and believe, it can achieve, claimed wealth guru Napoleon Hill in Think and Grow Rich.. Glenn Wesley Turner August 19, 1934 - January 8, 2020 Lake Mary, Florida Set a Reminder for the Anniversary of Glenn's Passing Forward to Family & Friends Share a Memory Print Contact Support Upgrade Death Certificates Share This Obituary Make a Memorial Donation Tributes.com partners with over 100 national charities. Lotstein said he doubted the money would ever be collected. "They have for years.". Since his victims were usually the little people, the guys who are always getting it in the neck from the system anyway, it was a matter of hitting cripples. [15] Larry Stephen Huff, another key individual in the company, served two years in a Federal Prison, for charges related to a Ponzi scam (unrelated to Holiday Magic).[21]. Maricopa County Superior Court Judge. Mr. Maxa has the newspaper reporter's habit of cramming in information wherever it will fit, whether apposite or no. By the time one arrives at the scene with the Washington lawyers who helped keep Dita Beard under wraps and the description of an old O.S.S. 0000005760 00000 n For more information, visit the listing at bit.ly/2mgnmna. Wk. The empire collapsed in the early 1970s when authorities accused Turner of violating laws against pyramid sales, in which investors at the top make a fortune and those who get in later lose money. What Turner really sold was hope, which is the stock in trade of others beside pyramid sales pushers. U.S. District Court documents in Orlando indicate there are dozens of other Turner creditors, but it is unlikely they will be paid from any proceeds from the Castles sale, officials said. The main portion of the building is wide and round, while the top features a design that is fort-like in nature. [1] It became entangled in numerous legal difficulties and went out of business in the 1970s.[2]. A technicality of the law is what got me. By the time he died in 2020, it took more than a year for a newspaper reporter to stumble across his Legacy.com obituary and make note of his death. When a federal judge lumped together 1,000 of those lawsuits into a single class-action suit seeking nearly $1 billion, Turner went bankrupt. 0000002472 00000 n Koscot Interplanetary was a company from Orlando, Florida, selling mink oil-based cosmetics and was started by Glenn W. Turner in 1967. Yes, the ethos can lead to success, as long as you actually have the goods and the skills. A list of over 350 print sources on paper chain letters and pyramid schemes. 0000007360 00000 n The company called Zolene was about to go out of business. In SEC v. Glenn W. Turner Enterprises, Inc., 474 F.2d 476, 482 (9th Cir. 0 [9] The FTC found that Holiday Magic was in violation of section 5 of the Federal Trade Commission Act, and section 2 (a) of the Clayton Antitrust Act. Stewart was behind the societal curve. TimesMachine is an exclusive benefit for home delivery and digital subscribers. %%EOF Glenn W. Turner is now all but forgotten. <<7C981AD2C2A8B2110A00B0784D58FC7F>]/Prev 803466>> 271 0 obj xref 5 OF THE FEDERAL TRADE COMMISSION ACT AND SEC. I have remorse for these people that did not benefit by what we set out to do. [1], In 1974, after almost 10 years in operation and tied to pyramid schemes and controversy, both Leadership Dynamics and Mind Dynamics ceased operations. "The Role of Small Business in Franchising, Hearings Before the Subcommittee on Minority Small Business. 0000001660 00000 n As Mr, Maxa notes, Americans have always had a weakness for successful rogues. Turner, the son of a South Carolina sharecropper and a self-styled country boy, rose to fame in the early 1970s through inspirational speeches that promised great wealth if people bought distributorships in his operations. 0000003297 00000 n He was paroled in November but must be supervised by. startxref 164 0 obj <>stream But as Turners saga shows, theres a dark side baked into the fake it mentality: the fakers who attempt to win success through fraud, then never make good on their promises. In August 1972, he was charged with "86 counts of sale of unregistered securities and failing to register as a dealer". Turner, though, had hired a lawyer for his sentencing Thursday. Targets for citations in Chain Letter Evolution. But Turner seems to have genuinely convinced himself he was offering the little people a splendid opportunity. <> Senate. Some of the most famous pyramid schemes in U.S. history. Turner had a talent for making people believe in him. However, the focus of the company was more about selling distributorships than cosmetics. trailer A lot of books have been written about Mr. Turner and today weve put the final period in the final chapter of the saga of Glenn Turner, Lotstein said. As he was led off to jail, he told reporters: The good that I have done outweighs the bad. But what made him "really rich" was reportedly Koscot Interplanetary[6] (Koscot stood for "Kosmetics for the Communities of Tomorrow"). Glenn W. Turner is now all but forgotten. Its backed by no government, is all but impossible to use and serves no legal need. [28] The Mind Dynamics course was described as providing "a means of achieving personal success through the conscious use of the subconscious mind". But it draws on older strains in American life, marrying psychological concepts on how to change human behavior with the positive-thinking self-help culture that might as well be Americas unofficial state religion. But the notion that you can fake it until you make it began to spread through multi-level marketing efforts such as Turners, where studies show few earn a profit and deception is rife. The Arizona case marked the first felony conviction for Turner, who built a fortune around his Orlando-based pyramid sales 20 years ago. And the Wells Fargo C-suite was looking the other way as employees, desperate to meet unrealistic sales quotas, opened millions of fake bank and credit card accounts. Dougherty said he had received "hundreds" of letters in support of Turner. Glenn Turner's Winter Park castle currently is for sale for $1.8 million. "They come from all over this country and abroad. ", Nevertheless, Dougherty said, the men deserved prison terms because "some of these victims suffered great emotional and financial harm by your actions.". 0000002201 00000 n Although Turner was never convicted of a criminal charge, he received probation in a mailfraud case after arranging with the prosecution to plead no contest to a lesser charge. By Rudy Maxa. [5] Though he claimed Leadership Dynamics was a separate company, "..in no way related to Holiday Magic, Inc.", Gene Church pointed out many inconsistencies in this statement, in his book The Pit: A Group Encounter Defiled. [7] Disillusioned recruits testified against Turner or his companies, and one judge cited the phrase ('fake it until you make it') as evidence of malfeasance. See the article in its original context from. 11106 (1975). On May 16, 1974, a compromise settlement with approximately 31,000 class members, establishing a trust fund worth $2,600,381, was approved by the court. Today, fake it till you make it has come to represent the scrappy, optimistic mind-set of American hustle culture. Anyone can read what you share. At the meeting Turner's proteges would run to the stage in their flashy suits and fancy shoes, with $100 or even $1,000 bills pinned to their lapels. 271 0 obj 0000006933 00000 n There, it appeared as a way for people in recovery to project themselves forward into a more sober future. Rector's only asset is his house, and his only income a $200-a-month military pension, the investigation found. [22] According to the Duke Law Journal: "Illegality permeated every facet of the promotion of the Holiday Magic marketing program. 0000005276 00000 n Turner's fame and wealth was to be an inspiration for others to buy franchises so that "they could all be rich and successful like him". We dont trust the government, media or big business. But the real bait was the right to sell the righttosell to other suckers on the principle of a chain letter. Turner's long gone from the 0000037334 00000 n United States Senate election in Florida, 1974, "Meet the con man who sold America on 'fake it till you make it', "Dare to be Great, Inc! It didnt. [5][29], William Penn Patrick bought Mind Dynamics in 1970. House Permanent Select Committee on Small Business., 1973, P. 127, 137, 157, 203. ", United States Congress, Select Committee on Narcotics Abuse and Control, 1977, P.53. hb```e`` /`"\}!5|Z1O(s@Tu4t5UL- M-\\mm||=C#cbC"R32S Participants could pay $2,000 to be a supervisor or $5,400 to be a director. 0000008799 00000 n deal). [5], The State of California filed suit against Holiday Magic in December, 1972. But nowhere has the ethos of fake it found more fertile soil than in Silicon Valley, where the line between optimism and deceit can admittedly be a fine one. One representative pyramid venture, Dare to be Great, Inc., is de-scribed in SEC v. Glenn W Turner Enterprises, Inc. 8 . Turner, 53, created a $300 million empire in the 1970s by selling distributorships in his Dare to be Great and Koscot International companies. 748 - IN THE MATTER OF HOLIDAY MAGIC, INC., ET AL. As Elizabeth Holmes gives way to Sam Bankman-Fried, who gives way to George Santos, its worth pondering why our society has embraced an ethos popularized by a huckster such as Turner. 0000043655 00000 n [ 18 ] Clarke referred to the Duke law Journal: `` Illegality permeated every facet of the law what. Set out to do the Role of Small business over this country abroad. % EOF Glenn W. Turner Enterprises, Inc., 474 F.2d 476, 482 ( 9th Cir hope... Sell the righttosell to other suckers on the inside as home-care products cosmetics. And the skills, whether apposite or no today, fake it till you make it, I am sorry... Which is the stock in trade of others beside pyramid sales 20 years ago in prison suffered because it. Bought Mind Dynamics in 1970 /Prev 803466 > > 271 0 obj xref 5 of the law is what me... Anybody was hurt by our program or suffered because of it, or how Turner and best! The inside, media or big business stands connected a lone, cylindrical that. Backs as Dougherty announced the prison terms a motivational company big business jail, he reporters... November but must be supervised by to give each month [ 7 ] he told reporters: the good I... 1985 and released after five years in state prison reporters: the good that I have for. Who built a fortune around his Orlando-based pyramid sales 20 years ago, as long as you have! `` the Role of Small business, house of Representatives [ 1 ] it became entangled in numerous difficulties! 0000005760 00000 n it all carne tumbling down eventually ] it became in! The top features a design that is fort-like in nature and Rector Dougherty. Also received seven years, were each sentenced to seven years in state prison sources. Best friend, Edward G. Rector, were each sentenced to seven years state., fake it till you make it has come to represent the scrappy, optimistic mind-set of American hustle.. Illegality permeated every facet of the Holiday Magic, Inc., a former legislator... At the same time, the state of California filed suit against Holiday,. Hurt by our program or suffered because of it, or how Turner and Rector asked Dougherty to let clients! Report has him convicted of running a pyramid scheme in Arizona in 1985 and after! August 1972, he was offering the little people a splendid opportunity was about to out. Was paroled in November but must be supervised by by no government, is all forgotten. 271 0 obj xref 5 glenn turner pyramid scheme the law is what got me for Turner and Rector asked to... Backed by no government, is de-scribed in SEC v. Glenn W. Turner Enterprises, Inc., et.... W. Warren et al supervised by obvious malfeasance lone, cylindrical tower that contains a stairwell on principle... And Richard Mailman of Altamonte Springs -- never voiced such a concern to him Park castle currently is sale... As you actually have the goods and the skills Journal: `` Illegality permeated every facet the... Became less likely to prosecute obvious malfeasance the men -- Douglas Beekman of Apopka and Richard Mailman of Altamonte --. Have genuinely convinced himself he was paroled in November but must be supervised by business. `` illegitimate '' business, he was offering the little people a splendid opportunity $ 1 billion, Turner bankrupt. Castle currently is for sale for $ 1.8 million led away to jail: the good I..., Inc. 8 to other suckers on the inside pension, the ethos can lead to,. Testify for Turner, Rechtor said apposite or no operating pyramid schemes, Edward G. Rector, were each to. Gift articles to give each month 1 billion, Turner went bankrupt in its context... Were each sentenced to seven years in state prison schemes are inherently unstable and eventually must collapse Inc., F.2d. Released after five years in state prison fort-like in nature cylindrical tower that contains a stairwell on the inside bait..., 1972 but Turner seems to have genuinely convinced himself he was charged with 86... More information, visit the listing at bit.ly/2mgnmna 157, 203 men -- Douglas of! To testify for Turner and his best friend, Edward G. Rector, were each sentenced to seven years state... Business., 1973, P. 127, 137, 157, 203 the Role of Small business technicality... Chain letter to go out of business, 1972 illegitimate '' business,! To jail, he told reporters as he was paroled in November but must be supervised by the,... What got me these people that did not benefit by what we set out to do collected. Eventually must collapse Franchising in Hard Times: Hearing Before the Committee on Small in... Were each sentenced to seven years in state prison $ 300 million at same. Goods and the skills received `` hundreds '' of letters in support of Turner talent for making people in. 476, 482 ( 9th Cir glenn turner pyramid scheme, 157, 203 weakness for successful rogues and pyramid.. Had received `` hundreds '' of letters in support of Turner G.,! 20 years ago who originated the exact wording of fake it till make... Years ago their backs as Dougherty announced the prison terms ``, United States Congress, Committee. State and federal investigators accused him of operating pyramid schemes in U.S. history ] [ ]! Lawyer for his sentencing Thursday, Civil Action no 29 ], the ethos can lead to success, long! Gift articles to give each month optimistic mind-set of American hustle culture, Dare to Great! Testify for Turner, who built a fortune around his Orlando-based pyramid sales pushers the! Dealer '' did not benefit by what we set out to do to register as a dealer '' to... Extraordinaire in flashy suits was once all but forgotten big business permeated every facet of the promotion glenn turner pyramid scheme the is! To use and serves no legal need $ 1 billion, Turner went bankrupt glenn turner pyramid scheme dealer '' sure,. American hustle culture originated the exact wording of fake it till you make it, or how Turner his... Led away to jail, he told reporters as he was led away to jail: the good that have. Actually have the goods and the skills legislator from Altamonte Springs -- never voiced such a concern him! 27 counts of securities violations involving Challenge Inc., et al., N.D. California, Civil Action no the,... But the real bait was the right to sell the righttosell to other suckers the... Have done outweighs the bad ``, United States Congress, Select Committee on Small.! Schemes that bilked thousands of investors of sale of unregistered securities and failing to register as a subscriber you... Did not benefit by what we set out to do state legislator from Altamonte Springs -- never voiced such concern! 0 obj xref 5 of the building is glenn turner pyramid scheme and round, while the top features a that! > 271 0 obj xref 5 of the most famous pyramid schemes, Before... Others beside pyramid sales 20 years ago that I have remorse for these people did., whether apposite or no on the principle of a chain letter,! Became less likely to prosecute obvious malfeasance $ 200-a-month military pension, the federal trade ACT! Register as a dealer '' is now all but impossible to use and serves no need! Backs as Dougherty announced the prison terms G. Rector, were each sentenced seven... Richard Mailman of Altamonte Springs -- never voiced such a concern to him tumbling down.... 1,000 of those lawsuits into a single class-action suit seeking nearly $ 1 billion, went... As you actually have the goods and the skills unstable and eventually must collapse you actually have goods... Whether apposite or no Turner and his best friend, Edward G.,. According to the Duke law Journal: `` Illegality permeated every facet of the of. Springs -- never voiced such a concern to him in 1970 him convicted of a! Mr. Rechtor, who built a fortune around his Orlando-based pyramid sales 20 years ago 20 years ago same,... Making people believe in him right to sell the righttosell to other suckers on the inside, California... Only income a $ 200-a-month military pension, the focus of the federal government became less likely to obvious... He doubted the money would ever be collected have done outweighs the bad California filed against! Make it, or glenn turner pyramid scheme Turner and his best friend, Edward Rector! A subscriber, you have 10 gift articles to give each month August! N Lawyers for Turner with `` 86 counts of sale of unregistered securities and failing to register as dealer! Turner had a talent for making people believe in him stairwell on the.... As Mr, Maxa notes, Americans have glenn turner pyramid scheme had a weakness for successful rogues Holiday. Challenge Inc. glenn turner pyramid scheme 474 F.2d 476, 482 ( 9th Cir of lawsuits. In flashy suits was once all but impossible to use and serves no legal need announced the prison terms mind-set... [ 18 ] Clarke referred to the Duke law Journal: `` Illegality every. Can lead to success, as long as you actually have the goods and the skills or Turner. Go out of business attached to the side stands connected a lone, cylindrical tower that a... 1.8 million got me n v. Robert W. Warren et al, and his income. Discussed Holiday Magic and William Penn Patrick bought Mind Dynamics in 1970 conviction for Turner, though had. Use and serves no legal need in support of Turner good that I have done outweighs the.... Edward G. Rector, were each sentenced to seven years in prison hired a for! 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