An Eden Hill man has been fined for a second time for taking part in a pyramid scheme.

Graeme John Eddington, who operated under the business name Living Polarbear Style, was fined $10,000 and ordered to pay costs of $5886 in Perth Magistrate's Court last week.

Consumer Protection lawyers told the court Mr Eddington placed an advertisement on the internet in November encouraging people to send him a $1000 cheque.

They said he promised the money would be returned within a year and assured participants they would receive $50 for every new person they recruited.

Lawyers said Eddington made the same claims in a letter to a consumer in February 2011.

In May 2008, Eddington was fined $6000 after being convicted of promoting a pyramid scheme known as the David Rhodes Chain Letter.

Consumer Protection Commissioner Anne Driscoll said consumers should not be tempted to take part in pyramid schemes.

"Promoters of these pyramid schemes make a lot of 'get rich quick' promises which soon turn into a financial nightmare for participants when the scheme collapses," she said.

"Both promoters and players will face prosecution with possible heavy fines and the original investment is put at great risk as well."

A third charge against Eddington was adjourned and will be heard at a later date.

The West Australian

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