According to an Ingroup, InCruises press release:
InGroup® International LLC has made the difficult decision to suspend the enrollment of new Members on its website who are Polish residents. Additionally, the company has stopped accepting payments from all existing Polish Members.
inGroup customers from Poland that have existing travel reservations will not be affected. And existing Members can fully use their Reward Points to book future travel, or they can request a refund. Either way, existing Polish Members will be fully protected and made whole in this decision.
This inGroup decision is a consequence of the incorrect assessment of the inCruises® Membership offer by the Polish Office of Competition and Consumer Protection (UOKIK).
In March of 2021, the UOKIK published a list of cryptocurrencies they deemed potential frauds. To our surprise, the inCruises Membership offer was included on this list. inGroup has never operated any type of cryptocurrency business. Nevertheless, despite repeated calls to remove our name from this list due to its defamatory nature, the UOKIK refused to acknowledge the correct and legal nature of the inCruises membership business model.
In response to this listing, inGroup retained legal counsel in Poland and has engaged with regulators, providing everything that was asked to clear this
Tag Archive for Ponzi
Hot Business News Today
Zeniq Coin Review: A Ponzi Scheme
by Team Business For Home • • 0 Comments
In the past years hundreds of crypto coins have been launched with a Network Marketing compensation plan attached and 99,99% of them are out of business. It is not a good marriage…
The company CEO Erwin Dokter, is/was the CEO of the collapsed Juwelis Coin in 2020. Zeniq coins is an other attempt of him and others to put a Crypto / MLM product into the market.
Zeniq coins is promoted by a number of bad actors listed on the MLM blacklist.
Why is Zeniq coins, a product of Dubai based Safir International a Ponzi scheme and an illegal security offering?
The compensation plan allows you to “invest” between Euro 100 – Euro 330,000….
In the USA the government (FTC, SEC) will take out fast such an investment MLM company (Security offering, Ponzi scheme) and that is the reason MLM Crypto’s are outside the USA situated nowadays, in this case in Dubai, and you are not allowed to bring in USA residents….
(Field leaders will tell you to use a VPN to bring in investors from the USA.)
The company stated on their website:
“Zeniq technologies Ltd does not provide any financial services, offerings or financial advice and is not licensed or regulated by the Dubai Financial Services
Hot Business News Today
German Regulator Freezes IMS – An OneCoin Company For Unauthorized Payment Services
by Ted Nuyten • • 0 Comments
The BAFIN in Germany regulates financial transactions and according to a German press release, Bafin ordered InternationaI Marketing Services – a OneCoin company – to freeze and cease its operations in Germany as the company did not and does not have the required authorization for finincial transactions.
The order may still be subject to judicial review.
BaFin is one of the largest financial supervisory authorities in Europe. With its more than 2,600 employees, BaFin takes an industry-appropriate and risk-oriented approach to supervision on the basis of recognised European supervisory standards.
As an integrated financial supervisor for the banking, securities and insurance sectors, BaFin ensures the stability of the largest financial market in continental Europe.
BAFIN did not judge the Direct Sales compensation plan:
BaFin does not have the right to decide as to
Hot Business News Today
ACN Addresses The Pyramid Objection
by Ted Nuyten • • 0 Comments
ACN, Inc., the world’s largest direct seller of telecommunications, energy and essential services for home and business, is addressing one of the biggest challenges in the direct selling industry head on for the first time in a powerful video designed to educate people on what ACN and the direct selling industry are really about.
And more importantly, what they aren’t.
“Pyramid Scheme” – it’s a four-letter word in the direct selling and multi-level marketing industries because many people incorrectly assume that legitimate direct selling companies and pyramid schemes are synonymous. The fact is: they couldn’t be more opposite.
While there are pyramid schemes out there, more importantly, there are legitimate direct selling companies like ACN who provide individuals with an opportunity to build a home-based business of their own.
Educating consumers on the difference has become
Hot Business News Today
Lyoness Plans To Appeal Against Swiss Pyramid Decision
by Ted Nuyten • • 0 Comments
According to an article in TT.com an magazine in Austria, Lyoness has stated it plans to appeal the decision from the Swiss Court that the company compensation plan is a Pyramid – Snowballl system.
The google translation, partly edited:
Against Lyoness, main sponsor of the Austrian football club Rapid Wien, is an other civil law judgment. This time, the Swiss Obergericht Zug has described Lyoness as a snowball system. Members would only receive money when they recruited other members. Moreover, the business model is intransparent. The judgment is not final.
Lyoness had resisted a corresponding judgment of the lower court and has now cut off with the complaint. A judgment of the Supreme Court of the Canton of Zug (APA), dated February 28, is entitled to appeal “if a legal question is of fundamental importance”.
Lyoness
Hot Business News Today
USA Jury Finds ZeekRewards Founder Paul Burks Guilty Of Fraud
by Ted Nuyten • • 0 Comments
A federal jury found Paul Burks, the founder of ZeekRewards, guilty Thursday on all four charges in a $939 million Ponzi scheme.
It was one of the largest Ponzi schemes in U.S. history, according to federal regulatory officials and prosecutors. The companies, which debuted in January 2011, were shut down and their assets frozen in August 2012.
The jury needed less than three hours to come back with its verdicts, according to Lia Bantavani, a spokeswoman for the U.S. Attorney’s Office for the Western District of North Carolina. Burks, 67, of Lexington was found guilty of wire and mail-fraud conspiracy, wire fraud, mail fraud, and tax-fraud conspiracy.
“For nearly two years, Burks used deceit and dishonesty to engineer an extensive Ponzi scheme that amassed millions of dollars from thousands of victims, many in the Western
Hot Business News Today
Is The DSA Still Relevant?
by Ted Nuyten • • 0 Comments
The USA Direct Selling Association (DSA) describes its role as “the national trade association for companies that offer entrepreneurial opportunities to independent sellers to market and sell products and services, typically outside of a fixed retail establishment”.
Lately several CEO’s and distributors are having doubts about the DSA added value while consumer watchdogs like TINA are plain negative.
Ramin Mesgarlou CEO – Global Wealth Trade and the Forensic Networker’s opinion:
One after one DSA companies fall to FTC, Vemma being the latest one. Herballife, Amway, ACN and many more are constantly being challenged or taken down by FTC for being an illegal pyramid so DSA needs to be asked this ONE important questions and that is
“Is DSA Still Relevant? “
We were part of DSA in 2008 and pulled out because quickly I realize they were more of
Hot Business News Today
Bonofa Management Arrested In Germany For $100 Million Fraud
by Ted Nuyten • • 0 Comments
According to an article in the German paper saarbruecker-zeitung the Bonofa management is arrested for an up to $100 million + fraud around Bonofa and Alpha Pool.
Master distributor Christian Goebel who lives on Ibiza – Spain was not immidiately available for a statement.
Founders Detlef Tilgenkamp (63), Thomas Kulla (54), Gernot Fuhr (60) and Martin Böhm (38) were last week arrested.
The google translation of the German news article:
Arrested Managers were the focus of financial investigation.
Established under a large raid in Saarland (Germany) financial jugglers celebrated on the Internet as “ingenious founders”
The four detained managers have since 2014 trouble with the Financial Supervisory. In addition to gang-fraud being investigated for breaches of the Banking Act.
After a major raid in which four financial jugglers were arrested, were more details on the activities of the
Hot Business News Today
OneCoin CEO Ruja Ignatova Statement On China Rumors
by Ted Nuyten • • 0 Comments
According to an anti-network marketing website a few OneCoin members in China are arrested and that website is publishing the news if the whole company is in trouble. They also mention a scheduled event in China is cancelled.
The people arrested are a few individuals who were primary in illegal fundraising and represented crypto currency somehow.
I have reached out to OneCoin CEO Ruja Ignatova and the management and they stated as follow:
“Of course we know about the challenges of an economy like China.
Cryptocurrency is extremely successful as the Chinese are well known as embracing innovations. So OneCoin is pushing hard and already working on several licenses to enhance the business in China.
Dr. Ruja Ignatova and OneCoin management have invited 2,500 Chinese members to Macau on the 9th of May. This
Hot Business News Today
iMarketslive Financial Problems And Company Website Off line
by Ted Nuyten • • 0 Comments
Seems iMarketslive is down the drain and not paying commissions any more, the company website has been down the last day several times.
International Markets Live (iMarketsLive), is founded in 2013 by President and CEO Christopher (Chris) Terry and based out of New York in the USA. iMarketsLive offers an educational trading platform (Forex) that provides an opportunity to enter into the trading industry and build a referral network.
According to the company 50,000+ distributors are in the company. According to insiders, Chris Terry runs the office out of hotel room.
Customer service phone number on bank statements goes to a record company in New York. Commissions haven’t been paid for the past two weeks on all parts of the compensation plan except Direct Commissions
The field is being told that customer service is