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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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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MonaVie Launching In China On December 22nd
by Tina Williams • • 0 Comments
MonaVie announced that their next international market opening will be in China. They have been laying the groundwork for the last couple of years to open in this market.
Pre-launch period starts December 22
Chief Financial Officer Jim Marsh will team up with Dan Zhu, President of Asia Pacific, for a ribbon cutting celebration at the MonaVie Shanghai Administration Office on Monday, December 22, 2014. This will mark the official opening of the office and the official kick-off of our pre-launch period in China.
“For years now we have been exploring the opportunity to enter China, which can quite possibly become the largest direct selling market in the world,” Dan Zhu said. “Plus, one of the fastest-growing segments of our global distributor family is among our ethnic-Chinese distributors that have ties to China.”
During the pre-launch period, China entrepreneurs and consumers will be able to start building their business and ordering product. (Please note the requirements to build in China listed below.)
Along with their main office in Shanghai, they will also be opening an office in Guangzhou on the same date. They will also open an office in Beijing in April 2015.
Full launch April 5, 2015
The official target date for full launch is April 5, 2015. The launch will coincide
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Industry Leader, Steve Niumatalolo, Joins Jeunesse
by Tina Williams • • 0 Comments
Jeunesse is celebrating the entrance of top earner, Steve Niumatalolo, into their global network of distributors.
Steve has been a top earner in the previous two companies that he’s been involved with over the last 10 years, and has directly influenced and developed over a dozen leaders in the industry today—each of which have earned seven figure incomes and achieved financial freedom. At his last company, he was ranked as a Diamond in the Million Dollar Club, a group reserved exclusively for top earners, and stayed in that group for over seven years.
Jeunesse was founded by Wendy Lewis and Randy Ray, and is built on a solid network of international teams from Asia Pacific to Europe and North America. With record sales of $50 million just last month, and its recent addition as #258 on the INC. 500 List, Jeunesse is attracting high-profile professionals from all over the world.
When asked about his decision to join Jeunesse, Steve said, “When I saw the Jeunesse Expo in Macau, I was literally blown away. Everything about Jeunesse is incredible: from its cutting-edge products to its solid compensation plan. I also got to know the company’s leaders and I’ve fallen in love with Wendy and
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SEC Files To Drop Insider-Trading Case On Herbalife
by Tina Williams • • 0 Comments
The Wall Street Journal just reported:
The Securities and Exchange Commission on Monday filed to dismiss insider-trading charges against a man accused of profiting from privileged information tied to Herbalife Ltd.
The SEC had charged Jordan Peixoto, of Toronto, of buying Herbalife options after hearing William Ackman ’s Pershing Square Capital Management LP was planning to make a negative public presentation about the nutritional supplements maker. Mr. Peixoto ultimately ? made $47,100 in profits.
The SEC said it is dismissing the charges because the two men who developed the information and passed it on to Mr. Peixoto aren’t available to testify at the trial, which had been set for March.
According to the agency, Mr. Peixoto was tipped off about Mr. Ackman’s planned comments by Filip Szymik, who learned the information from his roommate and longtime friend Mariusz Adamski, then an analyst with Mr. Ackman’s Pershing Square.
The two men, who were roommates in New York City at the time of the event, have since returned to their native Poland and have indicated they intend to assert their Fifth Amendment right against self-incrimination if compelled to testify.
Herbalife’s stock dropped 39% in the days following Mr. Ackman’s announcement.
Mr. Szymik, who didn’t trade in Herbalife securities, agreed to a $47,100 civil penalty
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4 Things Amway Learned On Survey Of Over 40,000 On Entrepreneurship
by Tina Williams • • 0 Comments
For the past five years, Amway has been gathering data on entrepreneurs and what makes them different from other worker bees.
In the recently released 2014 Amway Global Entrepreneurship Report, the Michigan company surveyed more than 40,000 people to gain insight about the state of self-employment around the world. This year’s survey questions explored the connection between education and entrepreneurship.
The report is intended to advance the discussion on entrepreneurship and lead to a deeper understanding of what can be done to encourage and better prepare more people around the world to start businesses of their own, said Amway Chairman Steve Van Andel.
“Entrepreneurs play an important role in growing economies,” said Van Andel in a statement. “They create jobs, encourage competition and help communities grow and flourish. As the business environment has changed through the years, so have the reasons people decide to venture out on their own.”
Steve Van Andel and Doug DeVos on Amway’s entrepreneurial reportAmway co-CEOs Steve Van Andel and Doug DeVos discuss the company’s entrepreneurial report.
The world’s biggest direct sales company credits its success to the entrepreneurial spirit of its more than 3 million “Amway business owners” who sell the company’s vitamin supplements, cosmetics and household products. The privately owned
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MLM, Direct-Selling, and Affiliate Marketing – What’s The Difference?
by Tina Williams • • 0 Comments
In a recent article where Melaleuca was mentioned to deny being MLM, a debate began between individuals on what defines MLM.
MLM simply means Multi-Level Marketing. If you are able to build a team of independent sales people that you earn an income from, this is multi level marketing, even if it’s one line of IBO’s. (Independent Business Owners) What makes MLM different from traditional sales are a few things. The distributors are all on a 1099 and not a W-2. They are independent, making their own hours, working at their own leisures.
A salesperson at a car dealership, for example, is hired by the car dealership and has to report in, still clocking in, still showing up for work and is expected to be there. If a salesperson doesn’t meet the expectations, they are fired. In MLM, there’s usually a low start up cost. In traditional sales, there is no start up cost and there may also be a minimum salary offered plus commissions.
Some of the largest MLM companies are Herbalife, Amway, and Mary Kay.
An IBO can’t be fired. They can be terminated by the company for violation of a contract. Most network marketing (or MLM) companies fall comfortable in
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Top 300+ Life Time Earners In MLM Per December 2014
by Ted Nuyten • • 0 Comments
The Top 300+ Life Time Earners in MLM – Network Marketing – Direct Selling.
What can you make in Direct Selling in total over the years?
Business For Home is publishing THE ESTIMATED LIFE TIME EARNINGS for the Top Earners in Multi Level Marketing, Net Work Marketing and Direct Selling.
Impressive numbers! This shows the world Direct Selling is a very interesting business opportunity. Stable and lifestyle changing!
The longer a Top Earner stays with a company, the higher the earnings…. The residual guys and girls, True financial freedom, enough time and money to play golf…
The numbers are “Totals” so if a Top Earner made $2 million in Company A and move to Company B and made there $3 milllion he/she is ranked for $5 million.
Below list is “UNDER CONSTRUCTION” and incomplete and always will be incomplete, as the dynamics in the industry are gigantic:)
Any corrections? Did we miss you?
Please send a private Face Book message to Ted Nuyten
Below list total at nearly $3.9 Billion…
RankNamePresent CompanyEst. Life EarningsWebsite
1Dexter and Birdie YagerAmway$295,000,000www.dexandbirdieyager.com
2Jim and Nancy DornanAmway$125,000,000www.n21corp.com
3Bill BrittAmway$115,000,000www.bww.com
4Max SchwarzAmway$90,000,000www.schwarz-organisation.eu
5Jeff RobertiJuiceplus$80,000,000www.roberti.net
6Tim FoleyAmway$78,000,000www.amway.com
7Barry Chi and Holly ChenAmway$70,000,000www.amway.com
8Nathan RicksNu Skin$58,000,000www.nuskin.com
9Bob CrispAmway$50,000,000www.amway.com
10Foo Howe Kean and Jenny KoAmway$40,000,000www.amway.com
11Peter and Eva Muller-MeerkatzAmway$40,000,000www.peterundevamm.com
12Rolf KippFLP$40,000,000www.flp-europe.com
13Holton BuggsOrgano Gold$36,000,000www.organogold.com
14George