Regulators Charge Fortune Hi-Tech Marketing
Fortune High Tech Marketing Charged with Illegal Operations in Two States April, 2010 Update: The MLM scheme, Fortune High Tech Marketing, was ordered in ’09 to stop doing business in the state of North Dakota by state regulators. FHTM is one of fastest growing new versions of “endless chain” recruitment schemes based in the USA. Promoters are making the usual promises of high...
Read MoreGold Quest Leaders Arrested in Iran
December, 2009 Iran joins other countries in efforts to protect citizens from multi-level marketing(MLM) scams. The MLM scheme, Gold Quest, which was a knock-off of the former US-based MLM scheme, Gold Unlimited, was banned in Iran in 2005. It has also been prosecuted in India and Sri Lanka. Yet, like many similar MLM schemes, it continues to operate in other countries and even seeks to return to...
Read MoreCanadian Class Action Suit Against Amway
Canadian Consumers File Class Action Lawsuit Against Amway, Charging Deception and Pyramid Scheme November, 2009 A new class action lawsuit has been filed against Amway in Canada. Though unconnected to the recently released book by Eric Scheibeler, the new lawsuit asserts the very same charges against Amway in Canada that are detailed in the book: false income claims and a pyramid selling...
Read MoreFederal Judge Rules that Herbalife Can Stand Trial
Pyramid Scheme Charge Filed by High Level Ex-distributors October, 2009 A federal judge has ruled that accusations by former top level Herbalife distributors that the MLM, Herbalife International, is an illegal pyramid scheme are worthy of a trial. A trial of Herbalife’s legality is expected in the near future. Herbalife had sought to have the charges dismissed. The ruling is a huge legal...
Read MoreMLM Scheme Sued in Texas
Stream Energy in Texas, Sued for Operating a "Pyramid Scheme" August, 2009 The Texas-based MLM, Stream Energy, which sells gas and electric utility services in Texas and Georgia, has been sued for operating a pyramid scheme. The civil suit, which is seeking class action status, claims that Stream Energy misrepresents income potential, misleads consumers to invest as salespeople, is...
Read MoreOwn My Travel Sued by SEC
Florida-based MLM, Own My Travel, Is Sued by SEC for Operating a Pyramid Scheme August, 2009 A small MLM in Florida called Own My Travel has been sued by the Securities and Exchange Commission for operating a pyramid scheme and selling unregistered securities. The scheme claimed it is a typical MLM and that it offers a product – discounted travel services – and is not paying people...
Read MoreMLM Travel Scheme May Be Finished Off by State Regulators
May, 2009 California state regulators are doing what the Federal Trade Commission (FTC) will not do – protect the public from pyramid selling scams, also called “business opportunity frauds.” The latest example is the scheme, Your Travel Biz.com, a classic pyramid in which consumers buy the right to become “travel agents” and then make money when they recruit other...
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