Pyramid Sales Act

Summary

Pyramid Sales Act - Provides criminal penalties for a person who uses the mails, knowingly sells, or offers to sell goods, services, or other property by utilization of a pyramid sales scheme. Defines "pyramid sales scheme" as a plan which includes a means of increasing participation in the plan by which a person pays value for the opportunity to receive value for (1) introducing any other person into participation or (2) a person being introduced by the person introduced by the participant.

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Timeline

1. 23 April 1975

   Introduced

   Referred to Senate Committee on Commerce.

   Source: IntroReferral

2. 23 April 1975

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 12 May 1975

   Reported

   Reported to Senate from the Committee on Commerce, S. Rept. 94-114.

   Source: Committee

4. 12 May 1975

   Reported

   Reported to Senate from the Committee on Commerce, S. Rept. 94-114.

   Source: Committee

5. 14 May 1975

   Floor

   Call of calendar in Senate.

   Source: Floor

6. 14 May 1975

   Passed

   Passed/agreed to in Senate: Measure passed Senate.

   Source: Floor

7. 15 May 1975

   Introduced

   Referred to House Committee on the Judiciary.

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 23 April 1975

  Open at official source

Sponsors

• Sen. Mondale, Walter F. [D-MN] · D · Sponsor
• Sen. Magnuson, Warren G. [D-WA] · D · Cosponsor
• Sen. Moss, Frank E. [D-UT] · D · Cosponsor
• · hsju00 · Standing
• · sscm00 · Standing

Related records

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