This doesn't seem like a reliable way of running a business: just hoping that you can exploit a bug in Facebook (which will surely be fixed before long) so you can grab people's friends, try to figure out their phone numbers, then spoof them, then cold-call them trying to sell them crap insurance.

I'm sorry, this just sounds far-fetched to me. History seems to have shown that when hurdles are just a little too high, the spammers just don't bother.