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  "documentTitle": "Pershing Square | Activist Presentation Deck | 63 slides",
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  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2014-03-01 00:00:00",
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  "notes": "The slide highlights the specific thresholds of 30 participants and 3 levels of recruitment for criminal liability.",
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      "kind": "paragraph",
      "text": "If a pyramid sales scheme obtains illegal gains by fraudulent means or disrupts the economic and social order by requiring its participants to pay fees or purchase products or services under the guise of selling products, providing services or other business activities before accepting them as members and directly or indirectly inducing or coercing them to further recruit new members in return for remuneration or rewards based on the number of recruited members and according to a certain structure consisting of multiple levels, its organizers or leaders shall be liable for criminal liabilities provided that the scheme internally has at least 30 participants of pyramid sales activities and more than three levels of recruits.",
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      "text": "Joint Policy Directive on Enforcement of Article 224(A) of the Criminal Law:",
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      "text": "Source: Joint Policy Directive of the Supreme People's Court, the Supreme People's Procuratorate, and the Ministry of Public Security of the PRC, issued November 14, 2013.",
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      "kind": "title",
      "text": "Chinese Law: Direct Selling vs. Pyramid Sales",
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