Iowa Bans Get-Rich-Quick Scheme

NYC promoter used Des Moines address to lure victims

May 11, 2009

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A New York City-based “get-rich-quick” promoter has been shown the door in Iowa. Attorney General Tom Miller said the company claimed customers could make $25,000 in two weeks.

“What caught our eye was that the so-called World Wealth Syndicate was using a Beaver Avenue address in Des Moines to market its deceptive schemes all over the country,” said Miller. “It was nothing but a mail drop-box but the Des Moines address might wrongly induce some consumers to think the operation was firmly planted in the heartland, and to let down their guard.”

An Iowa judge issued an order permanently prohibiting Christopher Lamparello of New York, NY, from marketing any of his programs in Iowa, and from using an Iowa mailing address or implying any connection to Iowa that does not exist.

Lamparello operated as “World Wealth Syndicate,” “Publishing Company, Inc.,” and “Pridemore Publishing Company, Inc.”

The get-rich-quick programs usually sold for about $25-$30. They were marketed under names such as “Big Cash Flier,” “How I made $99 an Hour,” “God Wants You to Be Rich,” and “$1,000 a Day!” Miller said his office is aware of more than 150 Iowans who ordered Lamparello’s programs.

“The so-called money-making opportunities didn’t cost a huge amount, but they didn’t hold a prayer of success either,” Miller said. “They probably preyed on people who were least likely to afford any loss -- people who are desperate and vulnerable in tough economic times.”

The judge also ordered Lamparello to make full refunds to any Iowa customer who requested one in writing to the Attorney General’s Consumer Protection Division, Hoover Bldg., 1305 East Walnut St., Des Moines, IA 50319. (Call 515-281-5926, or 888-777-4590.)

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