Tag Archive for Law Suit

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IM Mastery Academy Cleared Of All Charges In Belgium

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A Victory for Ethical Business Practices
In a landmark decision, IM Mastery Academy has been cleared of all allegations of operating as an illegal pyramid scheme in Belgium. The investigation which was initiated in 2018, and resulted in a court case brought by the Public Prosecutor who accused the company of operating outside the bounds of local law.
However, after six years of rigorous investigation, and the presentation of extensive data, evidence, and legal argument, the Antwerp court of appeal has ruled in favor of IM Mastery Academy, affirming the compliance of its business model with Belgian law.
A Test of Patience and Integrity
From the onset of the investigation, IM Mastery Academy cooperated fully with Belgian authorities, standing firm in their belief that their business model adheres to the applicable law. The company’s focus on providing educational services for customers was key in the court’s decision.

“We have always been committed to maintaining compliance. This victory is not only a win for us but also for our global community of educators, mentors, and students who trust in our mission to make financial education accessible worldwide.”

said a spokesperson for IM Mastery Academy.

Evidence-Driven Victory
During the investigation, IM Mastery Academy submitted extensive documentation, financial records, and operational

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Judge Dismisses SEC Case Against iX Global Orders $1.8 Million Fee Payment

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A federal judge has ruled in favor of iX Global and Digital Licensing, known as Debt Box, in the civil case brought by the United States Securities and Exchange Commission (SEC). Judge Robert Shelby, presiding over the U.S. District Court for the District of Utah, ordered the SEC to pay approximately $1.8 million in attorney and receivership fees.

The ruling, issued on May 28, mandates the SEC to cover $1 million in attorney fees and costs, along with $750,000 for receiver fees and costs. This decision came concurrently with the dismissal of the case without prejudice.

Judge Shelby’s order stemmed from a prior March ruling, which determined that the SEC had engaged in bad faith conduct regarding a temporary restraining order aimed at freezing iX Global’s assets. Subsequent filings revealed inaccuracies in the commission’s information, prompting the threat of sanctions against the SEC.
In response, the judge imposed sanctions on the SEC, requiring them to bear all attorney fees and costs resulting from the improperly obtained relief. Judge Shelby deemed most of the defendants’ requested costs as appropriate, with the exception of a $649 fee.

“This marks a significant victory for the Direct Sales industry,”

remarked Joe Martinez.
The SEC’s lawsuit, filed in July 2023,

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Amway India Faces Money Laundering Probe Over Alleged Pyramid Dcheme

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An Amway spokesperson stated:

“The Prosecution Complaint currently filed by the Indian Enforcement Directorate pertains to an investigation dating back to 2011 and since then we have been cooperating with the department and have shared all the information as sought from time-to-time since 2011. Since we began our operations in India 25 years ago, we have been committed to legal and regulatory compliance, and have diligently maintained a culture of compliance and integrity to the present day.
We want to reiterate our continued confidence in the Indian legal and judicial system following the due process of law as we pursue our legal rights.
Amway is proud of its rich history in India and will vigorously defend itself, as well as the over 2,500 employees and hundreds of thousands of independent distributors in India who are critical to its mission of helping people live healthier, better lives.”

According to several press agencies in India:
A money laundering probe against Amway India Enterprise Pvt Ltd, which has 5.5 lakh direct sellers (Approx. 555,000) across the country, was started in 2011 based on various FIRs filed by the Telangana police.
The Enforcement Directorate (ED) has filed a charge sheet against Amway India, a popular direct marketing company that pretty

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Justin Prince Sues Modere

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Attorneys for Plaintiff Justin K. Prince
IN THE FOURTH JUDICIAL DISTRICT COURT UTAH COUNTY, STATE OF UTAH
Justin K. Prince, an individual, Plaintiff, vs.
Modere, a business enterprise that is part of Maple Mountain Enterprises, Inc., a Nevada corporation; Maple Mountain Group, Inc., a Utah corporation (formerly known as Neways, Inc.), dba Neways, Inc.; James J. Zenni Jr., an individual; George Russell, an individual; Z Capital Partners, LLC, a Delaware Limited Liability Company; Z Capital Commercial Finance L.L.C.;
Z Capital Group, LLC, a Delaware limited liability company; and John Does 1-99, Defendants.
COMPLAINT
Discovery Tier 3
Plaintiff Justin K. Prince (“Justin”) hereby alleges and complains against the Modere Defendants, Z Capital Defendants, and John Does 1-99 as follows:
INTRODUCTION
1. Until recently, Justin was the largest distributor for a multi-level marketing business enterprise known as “Modere.”
2. Justin went from selling products out of a mall kiosk with no college education to becoming an equity holder/partner in the company and the number one earner at Modere, generating during his time there over $2.5 billion dollars in total revenue and over 4 million customers.
3. Modere came under the control of a private equity investor, Z Capital. Revenues grew and Z Capital seized an opportunity to restructure its debt on the back

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Success Factory USA Out Of Business And Announces A New Company MKX

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Success Factory LLC in Alpharetta, Georgia 30005, USA, is a separated company under the Success Factory umbrella of companies and was setup up to develop the USA Forex market. The company was founded in April 2022.
Jason Tyne, CEO of Success Factory’s US division stated earlier:
“We are very excited about the launch of Success Factory USA. The United States represents one of the world’s largest and most competitive markets places in the world.”
We look forward to educating and serving our customers with industry-leading products to enhance their financial well-being. I have zero doubt that we will attract great leaders and create serious momentum this year.”
In an important announcement to the distributors Roald Mailly, former CEO of Success Factory BV in the Netherlands and Jason Tyne said:
“We hope this message finds you well. We wanted to take a moment to express our heartfelt gratitude for the integral role each of you has played in the incredible journey of Success Factory USA. Your unwavering loyalty and steadfast support have been instrumental in our shared achievements, and for that, we are sincerely thankful.
We wanted to inform you about an important decision. After careful consideration and evaluation, and based on circumstances beyond our control, we

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iX Global Response On SEC Allegations In The USA

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According to an iX Global press release, this letter was created for iX Global Brand Ambassadors and the response of Joe Martinez – CEO iX Global.
“As you may have read, on August 3rd, D.E.B.T was served a civil lawsuit by The Securities and Exchange Commission, headquartered in Salt Lake City. Additionally, as mentioned in the SEC press release, iX Global was also named in the lawsuit.
We can assure you that iX Global has been fully committed to due diligence, compliance and transparency as an education and marketing company fostering education and innovation.
Based on our own experience as a marketing company, we have not been exposed to any evidence that would cause us to question the integrity in the operations of D.E.B.T. Box or the validity of their software technology. Yet our position is, as it always has been, that we are a reseller of D.E.B.T. mining software and or hardware.
We Do Not offer any guarantees of ROI.
We are very clear in our disclaimers on every call, every zoom, etc. that getting involved with crypto is unregulated and risky. Never risk more than you can afford to lose, past performance does not guarantee future results, and most importantly educate

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Government Accuses Amway India To Be A Scam

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About $100 million frozen.
According to a press release of the Enforcement Directorate of India:
“Enforcement Directorate (ED) has provisionally attached assets worth Rs.757.77 Crore belonging to M/s. Amway India Enterprises Private Limited, a company accused of running a multi-level marketing scam.
The attached properties include land and factory building of Amway at Dindigul District, Tamil Nadu, Plant & Machineries, vehicles, bank accounts and fixed deposits.
ED had provisionally attached immovable & movable properties worth Rs 411.83 Crore and bank balances of Rs 345.94 Crore from 36 different accounts belonging to Amway.
A money laundering investigation by the ED revealed that Amway is running a pyramid fraud in the guise of direct selling multi-level marketing network.
It is observed that the prices of most of the products offered by the company are exorbitant as compared to the alternative popular products of reputed manufacturers available in the open market.
Without knowing the real facts, the common gullible public is induced to join as members of the company and purchase products at exorbitant prices and are thus losing their hard earned money.
The new members are not buying the products to use them, but to become rich by becoming members as showcased by the upline members. Reality is that

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Amway USA 15% Retail Sales Not Compliant With The FTC Business Guidance For MLM?

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The FTC consider any USA company with a network marketing compensation plan and retail sales below 51% as a Pyramid Scheme and regular attack smaller companies who are not compliant with the FTC Business Guidance For MLM.
In 2012 a Wall Street Journal reporter asked Doug DeVos and Steve Van Andel,  in an interview:
What percentage of the products that Amway sells to the distributors, are resold to end-user customers who are not also distributors?
The Amway co-CEO’s  told the Wall Street Journal that 50% of the sales that are made to distributors are resold to actual retail customers. The other half is not resold by the salespeople to anyone.
That seems to be not true, at least not for the USA…
Amway nowadays release the retail numbers at their achievers conference every year and have not gotten over 15% in the USA market.
Average is around 12-13% and Amway tries to improve those retail figures. International retail sales might be higher.
I am not after Amway, I am not trying to poke a bear, however as an international Direct Sales reporter in my opinion it’s a strange situation the FTC goes after smaller MLM companies and let a Network Marketing giant get away with minor retail sales for the past 25+ years.
Its measuring

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Judge Finds Young Living Acted In Bad Faith And Awards doTERRA Nearly $2 Million

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Utah Fourth Judicial District Court Judge Christine S. Johnson issued a ruling that awarded doTERRA Defendants $1,810,344.11 in attorney’s fees and approximately $50,000 in out-of-pocket costs.
doTERRA’s Founding Executive and General Counsel Mark Wolfert thanked the Court for its ruling and expressed hope that all involved parties could concentrate on a more harmonious and productive future.
“doTERRA was gratified in 2017 when an objective judge and citizen jurors found that doTERRA, its executives and distributors had done nothing wrong and accordingly dismissed all charges and awarded no damages. We are now pleased that one year later, the judge has definitively confirmed that Young Living’s case was not only ill-advised, but brought in bad faith.
Nevertheless, we look forward to a less contentious relationship with Young Living and a time where both companies may now focus on their respective missions and sharing essential oils.”
This ruling hopefully closes the six years of litigation that Young Living instigated on June 21, 2012 (nearly five years after the events allegedly occurred), when it filed its initial complaint, “alleging: breach of contract, violations of Utah’s Trade Secret Act (“UTSA), unfair competition …., and multiple tort claims.” (Ruling on Defendants’ Joint Motion for Fees and Costs, July 10, 2018,

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5Linx Founder Craig Jerabeck Admits To Fraud

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Craig Jerabeck, one of the founders of the 5Linx, pleaded guilty Tuesday to the wire fraud conspiracy and also to the filing of a false tax return.
Jerabeck and two other of the company founders — Jason Guck and Jeb Tyler — were arrested early last year and accused of looting the company and its investors of millions through shell companies and unearned bonuses. The three were scheduled for trial in federal court in mid-September; that trial date is still set for Guck and Tyler.
On Tuesday, however, Jerabeck admitted to crimes different than those contained in the indictment against him last year. He pleaded guilty to the fraud conspiracy, maintaining that he, Guck, and Tyler — or companies they created —  pocketed about $2.3 million from a Florida vendor selling 5Linx products, including identity theft protection.
“We understand that Mr. Jerabeck didn’t get all this money himself,” Assistant U.S. Attorney Richard Resnick said in court. “It would be all three defendants.”
That money, transferred by “interstate wire transmission,” should have gone to 5Linx, its  investors, and stockholders, Jerabeck admitted.
5Linx, a multi-level marketing company, was once one of Rochester’s fastest growing companies. In 2014, New York Comptroller Thomas DiNapoli reported that a state pension fund investment in the company

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