In 35 years of handling bankruptcy cases, Stephen Darr has seen plenty of ugly. He has doled out funds to creditors of an asbestos company and a machine gun maker and to victims of several Ponzi schemes.
But nothing comes close to the scale of the TelexFree Inc. bankruptcy. Never in history has a trustee been responsible for divvying up the assets of a company that prosecutors say defrauded 2.1 million people, from Boston to Uganda.
Darr, an accountant by trade and senior managing director at Mesirow Financial Consulting in Boston, is the court-appointed trustee charged with paying out claims to victims who believe they are owed more than $1 billion in the case. TelexFree was purportedly a long-distance phone company, but in reality generated most of its money by luring a stream of small investors from 2012 until it was shut down earlier this year, according to prosecutors.
Many Brazilian immigrants risked — and lost — large portions of their savings, in hopes of reaping the generous returns that were promised.
“I feel very sympathetic toward these people,’’ Darr said. “They lost a lot of money. They deserve to get it back, and it’s my job to get it back to them as
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Thirty-One to Offer Artisan Jewelry Following Jewel Kade Acquisition
by mbeeman@directsellingnews.com • • 0 Comments
Thirty-One Gifts is ringing in the new year with a new addition to its family of brands. The Columbus, Ohio-based company has announced the acquisition of Utah-based direct seller Jewel Kade, an artisan jewelry brand founded in 2009. Beginning in spring 2015, Thirty-One will offer JK by Thirty-One jewelry in addition to its handbags, totes and home organization products.
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Natura Becomes World’s Largest B Corps Certified Brand
by mbeeman@directsellingnews.com • • 0 Comments
Natura Cosméticos, Brazil’s leading cosmetics, fragrance and toiletries maker, has built its business on a commitment to sustainable development. The brand’s purpose-driven practices emphasize respect for and preservation of the planet, as well as a strong sense of social responsibility. Pursuing that core philosophy, Nature has now become the largest—and first publicly traded—company to attain B Corps certification.
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Jeunesse Bestowed Prestigious Awards In Asia
by Tina Williams • • 0 Comments
Last month, Jeunesse was bestowed four significant awards by Toper Malaysia at the 8th Independent Entrepreneurs Team Building Convention (IETC 2014).
The ceremony took place on Sunday, November 16, at the Putra World Trade Center in Kuala Lumpur. On stage to receive all four awards was the General Manager of Jeunesse Malaysia and Singapore, Paul J. H. Lim.
After a strict selection process, Jeunesse won the following awards: the Fastest Growing Company of the Year Award, the MLM Paragon Award, the MLM Golden Midas Award, and the YES Brand Award.
The Fastest Growing Company of the Year Award acknowledges outstanding sales performance while the MLM Paragon Award recognizes company integrity and commitment to countries in South East Asia. Jeunesse received the MLM Golden Midas Award for strategic marketing, dynamic leaders, and efficient training systems. The YES Brand Award was bestowed for successful developmental management through branding initiatives.
These awards add to the many recognitions earned by Jeunesse in the last few months. In August, Jeunesse ranked at #258 on the INC. 500 List—making it the #1 fastest growing Direct Selling Association Company on the list. In September, Jeunesse won multiple Stevie Awards for developing their Jcloud™ technology at the 11th Annual American Business Awards.
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JM Ocean Avenue Aligns With Veretekk
by Tina Williams • • 0 Comments
Veretekk.com, Inc. announced today a strategic alliance with new powerhouse company, JM Ocean Avenue. JM Ocean Avenue has secured exclusive benefit to the strategic marketing technology of the Veretekk online automated marketing system.
JM Ocean Avenue is a direct sales company formed by the June 2014 merger of Ocean Avenue and JM International, with partial ownership coming from JM China, a more than $2 Billion per year company.
After nearly 2 decades of servicing the industry Veretekk has had the opportunity to work closely with over 70 well known companies, said Veretekk CEO, Thomas Prendergast. Never have we been as impressed as we are with JM Ocean Avenue, its management team, emphasis on family values, and general standing within the industry.
The arrangement will grant JM Ocean Avenue exclusive benefits from the Veretekk marketing platform and all associated technologies. The system will be re-branded as the WavRiders Network. Many aspects of the Veretekk service will remain intact for continued use by customers while others will be consolidated in support of the strategic goals of JM Ocean Avenue.
The Veretekk name and brand has been well known throughout online marketing circles for about as long as the Internet itself has been around, remarked JM
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Isagenix Announces Newest Millionaire
by Tina Williams • • 0 Comments
The fitness industry is competitive. Personal trainers are consistently contending with others for clients on a daily basis. And, it’s that hit-or-miss income that the trainers often rely upon to survive.
No one knows this better than Heather. The Perth-based trainer and single mother of two was once juggling two jobs, dreading the day her car might break down, or fearing a new bill would appear in her mailbox.
“When I first started with Isagenix in 2007, it was a natural progression as my clients were telling others about the benefits using the products,” explains Heather. “The extra income was appreciated because the personal training income is unpredictable from one week to the next.”
Today with Isagenix, she is part of a supportive and nurturing team, enjoying time freedom and providing a stable future for her children.
“The company changed my life from a personal view,” explains Heather. “You are in a safe environment where you can overcome your fears and grow into the best possible you.”
Ch-ch-changin’!
Heather describes herself as a happy and positive person, but her mother left a legacy of discontent and an unhealthy lifestyle. Heather didn’t want to model that path for her children or for others, but rather took a
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4Life Recaps 2014 General Managers Summit
by Nicole Dunkley • • 0 Comments
Recently, Vice Presidents and General Managers over 4Life’s twenty-four marketplaces gathered for the 2014 International GM Summit at 4Life Global Headquarters in Salt Lake City, Utah.
The annual GM Summit takes place during the first week of December and gives corporate officers a strategic opportunity to meet with executives and develop goals and initiatives for the following year.
At 2014’s Summit, General Managers focused on ways to enhance distributor support, refine marketing plans, enhance operations, and align strategies. Summit topics included effective branding, cohesive international communications, web development, operational proficiencies, and new information technologies.
The 2014 Summit follows two recent developments in 4Life’s growth, including the highest sales month in company history (October) and the opening of 4Life’s 24th international market in Hamburg, Germany (November).
As a world leader in direct sales, 4Life’s corporate representatives gauge success in terms of the service they provide distributors, the communications they develop with business builders, and the relationships they create and foster in the field.
This year’s GM Summit was attended by President and CEO Steve Tew, Chief Financial Officer Mark Ostler, Chief Operations Officer Danny Lee, Senior Vice President of International Jeff Kalinin, Senior Vice President of Marketing Trent Tenney, and key leaders from every
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ForeverGreen Worldwide Anticipates 2015 Full Year Revenue Of $90+ Million, Up 55-70% Over 2014
by Nicole Dunkley • • 0 Comments
ForeverGreen Worldwide Corporation, a leading direct marketing company and provider of health-centered products, recently announced 2015 guidance.
“During 2014, we saw a significant jump in revenue and acceptance of our products worldwide. We needed to raise our guidance several times, and we hit nearly all our corporate goals. Next year, we expect our sales growth trends to continue. Our revenue should be in excess of $90 million. We are continuing to see a positive impact on our business from our investment in IT, logistics, inventory and management. We expect operating and net margins to increase as we benefit from economies of scale, pricing leverage and sales growing faster than fixed expenses. For the full year, we anticipate net margins of 4-6%,” said Jack Eldridge, CFO.
Mr. Eldridge continued, “During the current year, we concentrated on driving growth and educating the marketplace about our exciting product line. For 2015, we look to find a balance between further acceleration of sales and maximizing cash flow and profitability. We will continue to keep shareholders updated on our goals and targets for 2015.”
About ForeverGreen Worldwide
ForeverGreen Worldwide Corporation develops, manufactures and distributes an expansive line of all natural whole foods and products to North America, Australia, Europe,
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Mannatech Announces Official Launch In Spain
by Nicole Dunkley • • 0 Comments
Mannatech®, Incorporated, the pioneer of nutritional glycobiology, leading innovator of naturally-sourced supplements based on Real Food Technology® solutions and creator of the M5MSM (Mission 5 Million) social entrepreneurial movement, announced the official opening of its operations in Spain as of December 6, 2014.
The opening of operations in Spain brings Mannatech’s total global presence to 24 countries. To support this expansion, Mannatech has launched a fully functioning website which will allow Spanish Associates and Members to order and receive Mannatech products directly into Spain.
“Adding Spain to our European market was an essential and natural fit for Mannatech,” said Dr. Robert Sinnott, CEO and Chief Science Officer. “We have seen a demand for our products and business there that is unprecedented, and we believe that this initial launch will precede an era of long-term growth for this region.”
The launch of Spain signifies a continued season of expansion and growth for Mannatech, which recently celebrated its 20th anniversary. The company has targeted additional European markets for expansion following the addition of Spain.
About Mannatech
Mannatech, Incorporated, develops high-quality health, weight and fitness, and skin care products that are based on the solid foundation of nutritional science and development standards. Mannatech is dedicated to its platform of
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Forever Living And Oriflame Head To Singapore For 2015 Incentives
by Nicole Dunkley • • 0 Comments
Singapore is seeing a renewed interest in incentive business, hosting brands including Forever Living and Oriflame next year. Forever Living will hold its global rally in Singapore next April with 3,000 representatives travelling to the region for a packed itinerary that includes a day of fun on the island of Sentosa, where representatives will have unlimited access to attractions such as Universal Studios Singapore and S.E.A. Aquarium, culminating in a beach party on Siloso Beach.
Agnieszka Suliborska, conference and event manager of Oriflame Cosmetics, which is holding its Diamond Conference in Singapore next year said: “Singapore is just a fabulous place to host large-scale events. The quality of hotels, diverse entertainment options and the quality of customer service are key factors in helping us choose Singapore as a destination to anchor our events.
“More importantly, Singapore is one of the most internationally connected cities in the world, and this made flying more than 1000 delegates from four continents across 40 different countries a fuss-free process.”
Sentosa continues to impress with a range of new attractions, including the popular Trick Eye Museum, Madame Tussauds Singapore, and the Royal Albatross, Asia’s only luxury corporate and private tall ship for charter.
Alongside leisure offerings, Singpore’s C&I