We have already seen one version -- the scamference, which is essentially a fraud.
Thanks to an e-mail alert from a colleague, I became aware of a second kind: Journal Conference.
Journal Conferences are virtual conferences, where blind papers are peer reviewed by at least two/three experts and accepted papers are published in International Journals. No paper presentation is required.
Don't you love that part about "blind" papers?
Going by the names of people in the National Committee, it seems like an Indian operation. Poking around that site, I couldn't find a physical, "real world" address, though.
Anyways, the conferences (in four areas!) "didn't happen" in 2009. I wonder if they will be repeated next year ...