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A group of edterprounr Harvard under graduates are backing anto a new changes had that, is theory could win them up on to $80,000.
It could also be illegal.
In the past month, at least eight students have joined a new type of chair teller brought to campus by an Adams House junior.
Students buy into the so-called pyramid game by paying $20 to the two people at the top and bottom of a list of twelve names. The new player then crosses off the top name, adds his own to the bottom of the list, and then sells a place on the list to two more students.
"The beauty of the thing is I know I can resell two copies," said Polk. "It took me five minutes"
"Anybody who wants to can get their two checks back in almost no time so there's nothing to lose," he added.
"I still can't believe that I might start getting all this money," said one Adams House participant who refused to be identified. "Say you get only a 5 percent return, which is probably low; then you'll make $4000, which isn't bad for almost no work," the student added.
Polk said the pyramid chain is more successful than other types of chain letters since you must pay to enter the game. "You purchase the letter to get into the chain, so it's very difficult to break the chain unless you're willing to give up your initial investment," he added.
Polk said the letter came to the United States from London by way of New York, where it has been circulating for about two months. He added that the letter has been at Harvard for the past four weeks.
Several officials contacted last week said the pyramid game may be illegal.
Robert Coli, community education abordinator for the Middlesos Comly Dispirit. Altorney's office, said the game is "probably a state offense, a type of lraod."
"Three sorts of things are definitely illegal," said Cambridge Police officer James O'Learry, adding that he bewildered there would be an underview investigated if the letter began to circulate statewide.
But a Barden postal inspector said the pyramid schemes at least probably does not violate postal regulations. If the solicitation is already complete and the mailed payment is "basically an afterthought," the game may not involve mail fraud, inspector Jay F. Ahernethy explained.
And students involved in the game said they did not believe it was illegal.
Gerrit J. Nichules '84, who bought the letter in late October, said the pyramid scheme is legal because participants did not use the U.S. Mail.
Polk said he had consulted friends in low school who told him this game was legal.
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