The Mass Marketing Section of the Toronto Police Service Financial Crimes Unit is a member of the Toronto Strategic Partnership against Cross-Border Fraud.
The partnership represents a combined enforcement strategy, specializing in the investigation of mass marketing fraud in, or originating from within the province of, Ontario with cross-border implications.
In January 2013, the Financial Crimes Unit started an investigation into an alleged pyramid scheme.
The Toronto Police Service was assisted by investigators from the RCMP, Competition Bureau of Canada, Ministry of Government and Consumer Services, Ministry of Finance, U.S. Federal Trade Commission, FINTRAC, and the Canada Revenue Agency.
It is alleged that:
– Between October 2010 and March 2013, a pyramid scheme known as “Banners Broker” was operated out of a Church Street address in Toronto
– The scheme offered participants the opportunity to double
Tag Archive for Ponzi
Hot Business News Today
Vemma Top Earners Might Face Clawbacks
by Ted Nuyten • • 0 Comments
According to an article in the New York Post, Vemma top distributors might face threads of claw backs if the FTC wins the case.
The New York Post:
“A former top distributor for Vemma may have to fork over millions of dollars in earnings after regulators accused the energy drink maker of running a pyramid scheme that preyed on college students, legal experts told The Post.
Anthony Powell, a top distributor who left Vemma two months ago, was singled out in a report filed last week detailing the alleged scheme. He was a major player in the multilevel marketing company, which the Federal Trade Commission temporarily halted late last month pending the outcome of a Sept. 15 court hearing.
The report, from the temporary receiver appointed to oversee the company, found that 42 percent of the
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FTC – Receiver Email To The Vemma Database – An Abuse Of Government Power?
by Ted Nuyten • • 0 Comments
Whatever happened in the USA with “innocent till proven guilty?”
When the Vemma receiver (the court appointed lawyer) sends out a copy of the FTC lawsuit to hundred thousands of active customers and affiliates around the world, 12 years of the company networking efforts gets blown up with ONE push of the send button. All this before Vemma gets to stand in front of a judge.
Below email was send out in the name of Vemma Corporate, which confused many people, thinking BK Boreyko and the corporate team has done so.
Unbelievable an USA government agency can come into your office, and send a massive email out on your behalf, around the world, without telling customers, not Vemma is doing so, but the FTC – receiver. I call this abuse of government power. I am
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Vemma Customer Victims – Where Are They?
by Ted Nuyten • • 0 Comments
According to the Federal Trade Commission (FTC) in the USA:
“Defendants (Vemma) are running a global pyramid scheme that has likely victimized hundreds of thousands or millions of consumers”.
We at Business for Home are pretty familar with Vemma since year 2006. We have searched intensive for “hundrerd thousands of Vemma Consumer Victims” however can NOT find them at all.
Not under our 4 -5 million annual visitors, not under our 45,000 Facebook Business page fans….
Massive customer complaints about the products? Sure there would be some, however “Victimized hundreds of thousands or millions of customers?”
That is a FTC statement which that agency can NOT prove, and is mispresenting the case “Pur Sang”.
What we have noticed are many satisfied customers who are running low on the product and are looking for a way
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Alex Morton’s Family Statement In The Vemma – FTC Case
by Ted Nuyten • • 0 Comments
In a Facebook statement under the article Where The FTC Went Right — And Where It Went Wrong
Alex Morton’s father Marc Morton weights in on behalf of the family -with below statement- which we publish as Facebook comments some times tend to disappear.
Marc Morton:
“First I need to state that I am the father of Alex Morton so yes I have a biased view of this situation.
Alex and myself visited the home office of Vemma with our sponsor in February of 2011. Alex was a 21 year old Full-Time Junior at Arizona State in the Hugh Downs School of Communication, and a part time Arizona Real Estate Agent leasing homes and condos.
Alex asked me to come check out Vemma after spending several night in the “VerveLounge” at the Phoenix Suns games. His first
Hot Business News Today
Poll: Is Vemma an illegal Pyramid Scheme?
by Ted Nuyten • • 0 Comments
According to the Federal Trade Commission (FTC) in the USA, Vemma is an illegal Pyramid Scheme and the company fight in court to this – to be proven – allegation.
Temporary Vemma was forced to close down operations, the assets are frozen, basically a $200 million company is taken out in an hour by the FTC.
A first hearing in court is set for the second week of September.
Founded in 2004 by CEO – BK Boreyko and his two sisters, Karen and Lauren, Vemma Nutrition Company has become known as one of the premier industry leaders specializing in premium liquid nutrition.
Vemma has done over $1 billion in revenue since 2004, has clinical proven products, is a long standing member of the Direct Selling Organisation, and is open in 50+ countries all over the
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India To Introduce New SOPs For Law Enforcement Investigating Illegal MLM
by Ramya Chandrasekaran • • 0 Comments
A new set of Standard Operating Procedures (SOP) is being formulated by the government for central and state law enforcement agencies for probing illegal multi-level marketing or ponzi schemes.
Sources said the dos and don’ts for investigating these fraudulent schemes are being drawn up by Central Economic Intelligence Bureau (CEIB) in coordination with Department of Financial Services.
The move comes following instances in which investors have been duped of their hard earned money through ponzi schemes–a swindle in which quick return on an investment is offered.
Sources in the CEIB, which acts as the nodal agency for economic intelligence, said they will share the SOP with investigating agencies once they are finalised.
Major such scams being probed include those relating to Rose Valley and Saradha chit fund wherein investors lost about Rs 15,000 crore and Rs
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Indian Govt Looks Abroad For Anti-Pyramiding Laws
by Ramya Chandrasekaran • • 0 Comments
From Saradha to Rose Valley and the Pearl scam, with a slew of ponzi-like financial frauds rocking the country in recent years, the government of India is also looking for solutions abroad.
Top government sources said that the finance ministry’s department of financial services (DFS) has obtained information about industry and regulatory practices from around the world in order to amend laws relating to ponzi-like, multi-level marketing pyramid schemes.
“A request had been sent to all the embassies and high commissions of India to gather all relevant information about legal and regulatory framework and industry practices for direct selling, multi-level marketing and pyramid marketing schemes in select countries,” an official document from a recent meeting said.
“Some of the inputs received from the Indian missions abroad are being incorporated in the proposed Prize Chits and
Hot Business News Today
The Freedom Fighters Network Closed Down
by Ted Nuyten • • 0 Comments
From a beach in Bali, Angela Moore and Jordan Schultz, founders of The Freedom Fighter Network, told the world about their revolutionary system that was “guaranteed” to make you money.
The opportunity was launced in July 2014, Their Freedom Fighters Facebook group had 11,000+ members and an estimated 25,000+ marketers invested in the system.
Schultz and Moore closed down their operations in an unexpected move, leaving numerous affiliates in the dust. The reason seems to be a possible bankruptcy, so the owners decided not to pay out affiliates anymore, take the money and “jump ship”.
According to their website:
“The Freedom Fighters Network is a product that has all the marketing system with all of the pieces (capture page, sales page, one time offers and followup) already put together for you including a traffic source. The marketing system funnels people thru and converts them to sales for you.
In addition to the marketing system and traffic provided for you there will also be training on how to find your own traffic sources”.
Hot Business News Today
Dutch Justice Closes Down Pyramid Game PlanB4You
by Ted Nuyten • • 0 Comments
Justitie legt voor miljoenen beslag op rekeningen PlanB4you uit Den Bosch om piramidespel
DEN BOSCH – Justitie heeft beslag gelegd op de bankrekeningen van PlanB4you en van de directeur. Dat bedrijf, dat voor kort een kantoor in Den Bosch had, zou zich voor 2,5 miljoen euro schuldig hebben gemaakt aan oplichting en witwassen.
De FIOD, de opsporingsdienst van de Belastingdienst, doet strafrechtelijk onderzoek naar het bedrijf. Het vermoeden bestaat dat PlanB4you zich schuldig maakt aan een piramidespel, dat ook wel ponzifraude heet. Hierbij betaalt het bedrijf deelnemers met de belegging van de inleg van nieuwe klanten. De oprichter eigent zich dan meestal een bijzonder hoog rendement toe.
‘Makkelijk geld verdienen’
Via YouTube en bijeenkomsten probeert PlanB4you nieuwe klanten te strikken. Het bedrijf houdt ze daarbij voor dat ze makkelijk geld kunnen verdienen door dagelijks tien keer op advertenties te klikken. Daarnaast zouden potentiële klanten makkelijk geld kunnen verdienen door anderen over te halen deel te nemen aan het project.
“Deze deelnemers komen dan als het ware onder de aanbrenger te hangen wat weer extra inkomen oplevert voor de aanbrenger. Naast het klikken op de banners heeft PlanB4you ook nog een webshop waar goederen tegen ‘hoge’ kortingen kunnen worden aangeschaft”, aldus justitie.
Invallen in Nederland en andere