On October 6, iX Global achieved a monumental win in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
In a recent TRO hearing, the presiding Judge made the crucial decision to dissolve the Temporary Restraining Order (TRO) previously levied against iX Global and DEBT Box.
The Court’s decision comes after scrutinizing the evidence presented and recognizing discrepancies and potential misrepresentations in the SEC’s complaint.
The importance of this hearing was underlined by the presence of Tracy S. Combs, Director of SEC’s Salt Lake Regional Office, who was summoned by the Judge just hours before the hearing. The Court’s stance was clear – maintaining the highest standards of accuracy and fairness in all proceedings.
“We are gratified by the Court’s decision, which we view as a validation of our unwavering commitment to transparency, innovation, and community values,”
said Joe Martinez, CEO & Founder of iX Global.
“While we respect the regulatory role the SEC plays, it is vital for the truth to prevail. Today’s decision is a testament to our continued dedication to uphold our guiding principles.”
The recent ruling has strengthened iX Global’s resolve to continue its mission of innovating, inspiring, and decentralizing access to strategic education and groundbreaking
Tag Archive for MLM Lawsuits
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Breaking News: Neora Wins Landmark Case Against FTC
by Team Business For Home • • 0 Comments
After nearly seven years of a “David vs. Goliath” fight against the FTC, Neora, a leading science-based skincare and wellness company, celebrates a historic victory. On Thursday, Sep. 28, the judge overseeing the case, Fed. Trade Comm’n v. Neora LLC, Civil Action 3:20-cv-01979-M (N.D. Tex. Sep. 28, 2023), ruled that the FTC’s claims were invalid, handing a monumental victory to Neora.
“When we proactively filed suit against the FTC on Nov. 1, 2019, challenging the over-reach of the FTC, we knew we would have a battle on our hands, but we were supremely confident that the facts and data would show the truth,”
says Jeff Olson, CEO of Neora.
“Living out our mission statement of making people better sometimes means taking the road less traveled, making the hard choice to defend what is right at all costs. This isn’t just a win for our industry, it’s a win for American entrepreneurship.”
According to Olson, the FTC’s overreach poses a real risk for American small business, the backbone of the U.S. economy. These efforts are so egregious, that one of the FTC’s own commissioners, Christine Wilson, recently resigned from the agency. In doing so, she cited her concerns over the FTC’s leadership and its
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Sebastian Greenwood – OneCoin Sentenced To 20 Years In USA Prison
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Damian Williams, the United States Attorney for the Southern District of New York, announced today that KARL SEBASTIAN GREENWOOD, who co-founded OneCoin with RUJA IGNATOVA, a/k/a “the Cryptoqueen,” was sentenced to 20 years in prison for his orchestration of the massive OneCoin fraud scheme.
OneCoin, which began operations in 2014 and was based in Sofia, Bulgaria, marketed and sold a fraudulent cryptocurrency by the same name through a global multi-level-marketing (“MLM”) network.
As a result of misrepresentations that GREENWOOD, IGNATOVA, and others made about OneCoin, millions of victims invested over $4 billion worldwide in the fraudulent cryptocurrency.
Today’s sentence was imposed by U.S. District Judge Edgardo Ramos. IGNATOVA, who was added to the Federal Bureau of Investigation’s (“FBI”) Top Ten Most Wanted List in June 2022, remains at large.
U.S. Attorney Damian Williams said:
“As a founder and leader of OneCoin, Karl Sebastian Greenwood operated one of the largest fraud schemes ever perpetrated. Greenwood and his co-conspirators, including fugitive Ruja Ignatova, conned unsuspecting victims out of billions of dollars with promises of a ‘financial revolution’ and claims that OneCoin would be the ‘Bitcoin killer.’
In fact, OneCoins were entirely worthless, and investors were left with nothing, while Greenwood lined his own pockets with over $300 million.
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iX Global Response On SEC Allegations In The USA
by Team Business For Home • • 0 Comments
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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Plexus Worldwide Agrees To Pay $600,000 To Resolve Alleged False Claims
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United States Attorney Gary M. Restaino announced today that Plexus Worldwide, LLC (Plexus), an Arizona limited liability corporation that directly markets health and wellness products, agreed to pay $600,000 to resolve allegations that the company violated the federal False Claims Act (FCA).
The settlement resolves allegations by the United States that Plexus presented mail to the United States Postal Service (USPS) for delivery with postage that was based upon and calculated with attributes not associated with the items mailed, which resulted in underpaid postage.
The United States also alleged that Plexus mailed other items with re-used postage. According to the United States’ allegations, the postage Plexus affixed to the mailed items represented that postage had been appropriately paid, when in fact, it had not, and the misrepresentations facilitated Plexus’ underpayment or non-payment of postage.
“The Postal Service is a unifying force in America,” said United States Attorney Restaino.
“It has always delivered mail through snow and rain and heat and ‘gloom of night’; during the pandemic it delivered free masks to protect our Nation; and it increasingly connects our fellow citizens with access to the ballot box for local, state and federal elections. It is therefore incumbent on all businesses to pay their fair
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Isagenix Elect Not To Renew An Associate Contract?
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Jay Bennett is / was a top earner and the “Golden Boy” in Isagenix and earned a total of more than $22 million dollars from Isagenix. He joined the company back in 2002.
This year Isagenix completed a recapitalisation transaction and a transition to new ownership, as the company was closed to bankruptcy.
As of May 2023, Bennett and his family own five income positions within Isagenix’s MLM opportunity. Jay Bennett has sued Isagenix over what he refers to as “The False MLM Promise”.
From an “independent” distributor point of view this is an interesting case. Can I company just throw you out?
Recently the termination policy for all Isagenix distributors was changed to:
“Isagenix may, at its reasonable discretion, elect not to renew your Associate Contract. Isagenix will notify you of its intent not to renew on or before the anniversary of your enrollment.”
Bennett and his family refused to agree with above policy and stated:
“Once an Associate works hard to achieve a high rank with the corresponding residual income, Isagenix will confiscate that income for its own pecuniary benefit.
Worse, since Isagenix cuts off the Associates income, the Associate is left without any funds to assert his or her rights, and this is what Isagenix
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MLM Blacklist Member Clayton Thomas Sued By The SEC
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The Securities and Exchange Commission today charged Brentwood, Tennessee resident Clayton R. Thomas and the now defunct entity he controlled, Personalized Healthcare Solution, LLC, with selling fraudulent promissory notes and misappropriating investor funds.
The SEC’s complaint, filed in the United States District Court for the Middle District of Tennessee, alleges that, from February until June 2019, Thomas and Personalized Healthcare Solution raised approximately $730,000 from a single investor, telling that investor that they would purchase certain medical devices and place the devices in medical offices to generate an investment return from usage fees.
In reality, according to the complaint, Thomas and Personalized Healthcare Solution overstated the purchase price of the medical devices and fraudulently inflated the medical devices’ anticipated returns.
The complaint also states that Thomas knew that the investment would likely be far less profitable than what he told the investor based on prior experience with a different investor in which the medical devices produced little to no return.
Finally, the SEC alleges that the investor lost substantially all of its original investments, and that Thomas misappropriated investor funds for his personal use by pocketing the difference between the actual cost of the medical devices and the amount that he represented to the
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Serial Ponzi Promoter Simon Stepsys Sentenced To Jail In The UK
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Serial Ponzi promoter Simon Stepsys, 55, sold himself as an internet millionaire, posing with supercars.
His plugs to ‘get rich’ schemes were linked to further ‘misleading’ schemes Warrington Magistrates’ court (UK) heard he spent almost £200k on ‘living costs’.
He was sentenced to 16 weeks jail suspended for a year after he pleaded guilty.
A former road sweeper-turned-businessman who ran a ‘get rich quick’ scheme has avoided jail for failing to keep proper accounting records – but has gone bust owing the taxman £171,000.
Simon Stepsys, 55, from Nantwich, Cheshire, UK sold himself as an internet millionaire and flaunted his wealth over social media, with photographs of him posing with a Porsche, Bentley, Cuban cigars, gold watches and rings.
The former road sweeper’s plugs for the scheme, which promised £5,000-a-day returns to investors, turned out to be links to further ‘get rich’ schemes, He was subsequently told to stop making the claims by the Advertising Standards Authority which ruled them unproven and misleading.
Stepsys was sentenced to 16 weeks jail suspended for a year at Warrington Magistrates’ court after he pleaded guilty to failing to keep proper accounting records. He was banned from being a director of the company for seven years in 2020.
Stepsys was also ordered
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Avon Products Hit With $40 Million Verdict
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Avon Products Inc. was ordered by a California jury to pay $10.3 million in punitive damages to a woman who blamed her cancer on talc in its cosmetics, in the first such case the company has lost in U.S. litigation.
The Los Angeles Superior Court jury that punished Avon Friday for hiding the risks that some of its talc-based powders can cause cancer had already awarded Rita Chapman $40 million in actual damages, bringing the total in the case to more than $50 million, according to court filings.
The $40 million award was intended to cover Chapman’s pain and medical costs tied to her battle with mesothelioma, a cancer specifically tied to asbestos exposure. Chapman alleged Avon’s powders contained asbestos-tainted talc that made her sick. The company – famous for its door-to-door saleswomen known as “Avon Ladies” – was acquired by Natura Cosmeticos SA in 2020.
“We are disappointed by this verdict and will vigorously pursue all available avenues to appeal,” Avon said in an emailed statement. “Avon is confident that it has strong grounds for appeal and will continue to defend its position.”
Avon faced almost 130 talc suits as of 2020, according to court records. That same year, the company said it
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SEC Files Action Against Former NewAge (Ariix, Morinda) CEO Brent Willis
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According to a SEC Press Release:
Litigation Release No. 25562 / October 18, 2022
Securities and Exchange Commission v. Brent David Willis, No. 1:22-cv-02744 (D. Colo. filed October 18, 2022)
The Securities and Exchange Commission announced today that it filed charges against Brent David Willis.
The former Chief Executive Officer (“CEO”) of NewAge, Inc. (formerly known as New Age Beverages Corporation), alleging that Willis engaged in a multi-year fraud by disseminating numerous false and misleading press releases and making false public statements concerning NewAge’s business dealings, and aided and abetted NewAge’s disclosure of material information in violation of Regulation FD.
The SEC’s complaint alleges that between 2017 and 2019, Willis, while CEO, both through his role in drafting and authorizing NewAge press releases and in statements he made in earnings calls, investor conferences, and in media interviews and appearances, made numerous false and misleading public statements concerned a wide range of matters material to NewAge’s business.
As alleged, these matters included NewAge’s alleged development of a portfolio of CBD-infused beverages and its purported deals with the U.S. military and several large domestic and international distributors and retailers.
According to the complaint, Willis orchestrated this multiyear fraud and disseminated the false and misleading public statements to create the