Warning on scam

Local residents and businesses have been warned not to fall for a scam letter currently circulating on the Central Coast which has been reported on the Peninsula.

Fair Trading Minister Ms Reba Meagher has warned residents not to fall for the "David Rhodes chain letter" scam.

She said it was the latest version of an established pyramid scheme that was "nothing more than an illegal scam".

"The letter tells people they can earn over $70,000 in less than 60 days with a minimum of effort and cost," Ms Meagher said.

"Experience shows us that pyramid schemes expand quickly, and collapse just as quickly, with most participants losing their money."

Wayne Anstee, April 1