Tag Archive for Scam

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Eaconomy New Allegations Coming up

by Team Business For Home • April 15, 2024 • 0 Comments

On 8 April 2024, we reported about several allegations around Eaconomy with as title Eaconomy Not paying Commissions, Terminating Leaders? A Review
Today Ronald Naranjo, the former Nr. 3 of Eaconomy published a video about his experience with Eaconomy and founder / CEO Hassan Mahmoud.
Ronald Naranjo stated according to the video:

“I’m going to tell you the story of Eaconomy with balloons so that everyone understands what really happened. After the event we had in Medellín we get up in the morning and we had our back offices blocked and our virtual offices blocked.
And yes they don’t pay commissions And how do I know that they don’t pay us commissions Well, because I I was one of the first affected by all this that happened after all.
I’m going to tell you the truth and to give you a little more context in April of the year past that is 2023 I was in Cancun at the ower owner’s house where we were doing the negotiation.
He had the third position in the company. So I know what was happening in the downline and now I’m going to tell you about it. Let everyone be clear and don’t eat Chinese tales of what

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Serial Ponzi Promoter Simon Stepsys Sentenced To Jail In The UK

by Team Business For Home • December 21, 2022 • 0 Comments

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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Root Wellness Accused Of Fraud By Top Network Marketing Professionals

by Team Business For Home • May 30, 2022 • 0 Comments

Root Wellness stated in their company profile:
“At ROOT, our goal is to create products that honestly improve your life on a daily basis. We know that when you love something, it’s only natural to share it with people you care about.
Part of living a healthy life also includes having a healthy bank account. That’s why we’ve created a revolutionary community sharing model that allows you to reap the rewards of ROOT, from a wellness perspective, and financially.
The great part is, you don’t have to jump through any tricky sales hoops to do it.”
Seems that is not the case:
A Top Network Marketing professional *, in good standing stated and accuses the company and founder Clayton Thomas as follow:
1.Investment funds in return of company ownership. We were promised company ownership when we invest money which we did but we got fraudulent operating agreement and never got any certificate of company ownership or anything.
Until today, the money was gone and nothing was received in return. No ownership, no company reports as every owner should have etc., nothing.
They simply took this money and they keep working forward like nothing happened.
My investment amount was ten of thousands but I also do know another few investors

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Amway: We Stand Behind our Business in India

by Team Business For Home • May 2, 2022 • 0 Comments

According to an Amway press release:
Since 1998, Amway has been providing innovative, world-class nutrition, beauty and healthy home products to the citizens of India through its network of hundreds of thousands of Amway Business Owners, who earn income representing the company.
Recently, an Enforcement Directorate action has been filed that relies on previous, old complaints and charges.
Amway is responding to this filing, and because we are in full compliance with all local and national laws in India; and are a leader in advocating for the Direct Selling Industry’s highest levels of integrity, corporate governance and consumer protections; we will continue to cooperate with authorities there to work toward a fair, legal and timely resolution to this issue.
Amway continues to operate and invest in India. Our multiple offices and shops across the country are open, and our manufacturing, sales, e-commerce and distribution services are in full operation.
We are proud of the economic opportunity we provide to our business owners in India; the corporate social responsibility programs in place there – such as Nari Shakti and Nutrilite Little Bits – and the ABO-led communities that are helping Indians live better, healthier lives.
As disappointed as we are that past issues have resurfaced, we are

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Government Accuses Amway India To Be A Scam

by Team Business For Home • April 19, 2022 • 0 Comments

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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Zeniq Coin Review: A Ponzi Scheme

by Team Business For Home • April 19, 2022 • 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

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Beware of This Phone Scam Mentioning Amazon

by Holly - The Work at Home Woman • February 23, 2019 • 0 Comments

Just the other day a reader asked me if I had heard of the Amazon job scam that was being promoted by phone. Having an unpublished phone number, I rarely receive any unsolicited phone calls, so I wasn’t aware of it. So, I decided to do some research and see what I could dig up […]

The post Beware of This Phone Scam Mentioning Amazon appeared first on The Work at Home Woman.

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QNET Has Big Plans For India But Needs Clear-Cut Norms For Direct Seling

by Ted Nuyten • March 6, 2017 • 0 Comments

Global direct selling major QNet says it has big plans for India but needs clear-cut norms that differentiate genuine direct-sellers from those involved in illicit investment schemes.
Malaysia-based QNet’s Global CEO Trevor Kuna emphasised that it sells products and services and not into “investment business” and said it has been paying all its taxes and all their payments have been made after deduction of taxes and that too through non-cash modes with full documentation and transparency.
The group and its Indian franchisee has been facing several legal cases in India and has been accused of indulging in fraudulent business activities — the charges which it has been refuting consistently.
“We do have big plans for India, but like many other companies we are waiting and watching how the implementation of the guidelines unfolds on the

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QNET Has Big Plans For India But Needs Clear-Cut Norms For Direct Seling

by Ted Nuyten • March 6, 2017 • 0 Comments

Hot Business News Today

Bonofa Management Arrested In Germany For $100 Million Fraud

by Ted Nuyten • May 25, 2016 • 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

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