However, the company itself is done, the 40 million invested has largely evaporated. The company paid commission for introducing more people to join YTB i. People found that typical travel sales made very little money: Most resorted to recruiting to make back their "investment.
YTB later renamed itself Zamzuu, but that didn't help its fortunes much. YTB formally filed chapter 11 bankruptcy in March , ending this chapter. Fortune Hi-tech Marketing, better known as FHTM, supposedly sikd everything, from appliances to phones and everything in between. However, a study of the compensation model shows that most of the income was from recruiting. According to the video below, recruiting paid hundreds, while "residuals" from things sold paid pennies.
Thus it was mainly a pyramid scheme. FHTM was sued by multiple states, including Montana, North Dakota, Texas, and more, and agreed to pay millions in fines and not to do business in those states.
How Pyramid Schemes and Ponzi Schemes are Prosecuted in the US: The Koscot Test and the Howey Test
Turns out his wife was recruited by one of her friends into it as a favor. TVI Express was launched in India in , and was never clear on what it was supposed to be. On one page it said it sold travel, on another page it sold income opportunity. It claimed to be based in the UK, and reached China by March , only to be banned a few months later as a pyramid scheme.
Local bloggers documented how the company was just a relabeled Travelocity website and all the alleged backing was completely fake. TVI Express claimed to sell travel, but its compensation package it only required you to recruit. You didn't need to sell any travel at all. Indeed, for 2 years, its own FAQ stated that "You don't need to sell any products. The language barrier apparently prevented other countries from realizing that the scheme was already outlawed in China, as it then spread to various other continents, including the Americas, Africa, Europe, Australia, and more.
The scheme reached US in early , and many so-called MLM coaches and reviewers were touting it as the best thing since sliced bread. It all came crashing down when the State of Georgia issued a "cease and desist" against the local reps, known as "TVI North America", in September The order gave 21 days to appeal. The scam was also shut down in Indonesia, South Africa, and various other countries, though it simply moved on to some other countries. Some members continued to deny that TVI Express was a scam.
First, get all the documentation. Print a copy of the website, and download a copy of the recruitment video. Note numbers, names, and more. If you have alleged income, or promise of income, print the screen and so on. Second, write up a complaint that explains why you are complaining, and include all the evidence you think proves your point, and WHY it does.
Third, send your stuff to the relevant people: Pyramid schemes and Ponzi schemes are a target for law enforcement, and these are some of the more significant cases. However, keep in mind that in almost all cases, the hand of justice moves slowly. Often it will take the authorities several months to well over a year or two to shut down the alleged scheme.
Most schemes are too small to attract this sort of attention, but once they do, the various states join in, at least those with deeper pockets, like California, Texas, and so on. The government only reacts to scams, and you may not get your money back, unless it was a huge scam that involved a lot of money. And even then it may take well over a year.
Sign in or sign up and post using a HubPages Network account. Comments are not for promoting your articles or other sites. Update Joe Isaacs issued an apology to all the telecom regulatory bodies he applied to on behalf of TelexFree. Isaacs also is running a home renovation and investment with a guaranteed return through his new www. No word yet on what Barbara Bushe is up to. We can only assume through the SmartandHandy connection her Bushe is getting Trimmed.
US has closed down many fraudulent operations around the world often with help from several countries. Examples such as "Profitable Sunrise" and "Liberty Reserve" come to mind. I doubt you'll make money from any such schemes. If you do, it'd make you a "judas goat" just to get you to recruit more people into it. I know some people that are in better living global - bidders paradise that screams ponzi.
This is based out of Hong Kong. Does the US ever go after schemes that are operating offshore? If not, are there any legal or financial repercussions if you make money on something like this? Before I forget, Skapegoat is believed to be a pseudonym used by Joe Isaacs. I can agree with that but something as simple as no or low interest during the housing boom sounded like a scam to me. I did not care how small or how many pages of non-readable gibberish, it had to be to good to be true.
You have to make money they are not just giving houses away for free. A lot of people never guessed that they would lose everything but the bank got bailed out. I had a job interview with a loan company right before the crash. After hearing all about their money, they actually made me watch the Secret. I already knew 3 years prior to the crash that it would happen, it was common sense. I was building homes and you should have listened to these corporate people bragging about their money. After spending millions their factory remains closed.
Glenn W Turner Interview Network Marketing Legend
I lived in a house paying rent for 6 months and one day discovered it was foreclosed. Three years later someone finally moved in. Its been seven years and this nightmare never ends and the greed game continues. Honestly, if the World ended we would not notice and it would be better. Perhaps it is that attitude, that the "normal" investments can't "win", that caused the proliferation of such Ponzi and pyramid schemes, because people need to believe that anyone can have a chance, even if that chance is fake.
Do you find it odd that the majority of people in this Country are far worst off then at any point in their lives. Yet the stock markets, banks and investment companies remain completely unaffected by these facts. Most find it in their interest to reduce hours, lower wages and eliminate any possibilities of providing benefits to their employees. They have written off the people of this country and see no reason to self stimulate the economy by doing the opposite.
It would be hard to imagine that this is not a deliberate attempt to maintain a status quote. In any case they have proven that they do not need 75 percent of the population to maintain the factors they care about. The average person is a fool to invest their money into any program in this country. Its no longer your money once you invest it and there is no guarantee or responsibility for them to give it back. The odds are better in Vegas.
Yea I know its all right if you lived a lie believing that honesty is what created a good life. Yet when dishonesty is true its so easy to become corrupted by the rules. Sometimes telling the truth of this World makes me feel more like Satan. Why would some small sin create such great sins of unimaginable scales. Do you have any idea how incredibly vast the sin of this World is. You can not take one sin and not run into hundreds of others. If I am a judge I see little time left for this World.
A world unable to know good from evil has no hope, for such hope requires sacrifice or the shedding of blood that leaves them as dirty as this World is. The law has always treated crimes that deprived anything you weren't born with such as life and rights as of lower severity than crimes that do murder, rape, etc. After all, you can always make more money theoretically speaking. It's not really about morality, too big to be prosecuted, and other injustices.
Which is why I remarked that we're going off topic. Its not off topic because bending the rules opened all the loop holes for the criminals that were worst then the so called legal ones. I call it Pyrrhic justice.
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Unfortunately it screwed a lot of people who got caught up in its to good to be true. None the less Enron was legal, and to big to fail was good enough to become to big to prosecute. I guess at a certain point our own Government should be on trial because they can not balance their books either. I just wonder why we have people in jail for minor crap when stealing millions only got some people a few years in jail.
From Gods point of view, I do not think he sees much difference from immoral and legal to immoral and illegal. Its hard to get that point across to so called believers these days. The difference is one is working within the rules and can be dealt with by outlawing the loopholes later , and the other is outright fraud already against the law.
Furthermore, there are people who's out to exploit the rules in everything by going up right against the line. Are they immoral by pushing the boundaries? Really what's the difference? Paying zero taxes and putting it in off shore accounts is not tax evasion either? Just because you have the money to cheat the system does not make you any less of a thief.
Its not about money to the average person but principal. If we go to jail and pay every dime in taxes why are they not criminals? Why is this not a social injustice? They were educated and use are infrastructure every day why should they not pay like us? Good information but actually this is how we persecute Ponzi Schemes.
First we pay off or elect a politician to create a loop hole. Then you take lower level employees to blame later and have them do the dirty work. Then you commit tons of fraud until you need a Government bail out. I can not wait until God gets these people, what fun that is going to be.
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Isaac's version of the events on what transpired. I can always link to it. Isaacs never used the FHTM name on a commercial venture. They dropped the stupid lawsuit against Mr. Isaacs because they had zero evidence that he had done anything wrong. Isaac's hands ain't exactly clean. When FHTM came after him he turned sides. While this really has no effect on the question "Is FHTM a pyramid scheme", it adds a certain bias to everything what Mr.
Isaacs did that it must be accounted for same for anything FHTM does. It turns out that whoever went after Mr. English Choose a language for shopping.
exuxasoheh.tk: Common Sense MLM: An Interview With Glenn W. Turner eBook: Michael Senoff: Kindle Store
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AmazonGlobal Ship Orders Internationally. Amazon Inspire Digital Educational Resources. Amazon Rapids Fun stories for kids on the go. Amazon Restaurants Food delivery from local restaurants. ComiXology Thousands of Digital Comics. East Dane Designer Men's Fashion. Money borrowed and lost, men and women leaving their jobs to do this full time. But, the worst I think was the marriages ruined. I know of men who had affairs and some even left their wives for women they met in meetings or picked up somewhere after the meetings.
Some women did the same. We were in from the beginning and made fair money, but I ended up being the bread winner for awhile. My husband was a college graduate and we owned our own business so we were not like some who went into what was foreign to them. I will end by saying. Koscot ruined our lives, and we suffer emotionally even now, some 40 years later. I saw this in different states as I traveled to different meeting places.
I was the Asst. I was 20 years old when I joined the company. But I did learn to believe in myself, and it was only my efforts that would change my future. The funny part is, these people made even less, for the time involved, than they could have, if they put that same time into Koscot.
I met Glenn Turner in He was pitching Koscot Cosmetics to a large group. He told funny stories and was a jovial sort of guy. I could see that he would have some legal troubles even back then with the way the distributorships were being done. I am glad I met this amazing man. Well Elaine, As a matter of fact he lives quite the modest life…at 79 he still walk a few miles every morning…lives with his wife and Parrot in a Modest House in Central Florida, with memorobelia covering the walls like a colouge.
I knew immediately after speaking with this Gentleman, that he is clearly a saint, not a con man. He is a loving, mentor, with a vibrant personality, and some wild bright blue eyes. He has his grandkids come over and play in the Pool, and enjoys the simple things. Out of the few times i went over there, a few things that stand out the most, likely cause he repeated them like 5 times…. I guess its a symptom of old age.. So please, if you have not already, read the 6 books he had written about him, and the 1 he wrote about himself, learn the story of our American History.
It was just over a year and a half ago when I saw him last, so he was And if he saw this post I am sure he would love to see all the great comments, and I bet he would even get a laugh at the bad ones,,,in one ear and out the other he would say, keep in the good, and out with the bad. What a focused mind, kind heart, and naturally hilarious man. I am lucky to have met him, with a few months after meeting him, my thoughts and goals made a drastic turnaround, I can without a doubt can say he changed my life for the better, and we never spoke once about any business ventures…Just learning his story, and feeling his amazing positive energy told me all I needed to know.
That is what G. T is all about. And There may be just a few more self made millionaires right now…and we may be in just a bit less debt as a Country.
But you know, call it a scheme.. Funny how this thread shows up every now and then. Some people got booted into success with those clay feet while others got stomped into dust by them. He also attracted a lot of sharks who tore large chunks out of his reputation. I too knew Mr.
I was in Detroit then Orlando, Exciting time, fond memories. Never met the Man, but got his Books and Recordings. Both my parents was major distributors in this organization. My brother and I had to write summaries on varies dare to be great tapes daily. The conventions we where in was scary. Brain washed greedy people following a cult. If Glenn W Turner passion had been religion instead of money he would rank right up there with Jim Jones.
Con man or Saint?