Vemma Scam? Yes It Is In My Opinion!
Update 12/15/2016: Vemma Agrees to Ban on Pyramid Scheme Practices.
The Vemma scam has recently been fined for pyramid selling in Italy. – Source New York Post
Vemma’s top-earning affiliates train their teams to use stories that claim Vemma can cure several diseases, treat dozens of medical ailments, and alleviate the symptoms of multiple maladies. Clearly the representatives of this scam will say anything to take advantage of you. – Source truthinadvertising.org.
There are a few things that really make me furious. One of those things is companies that target college students with scam “Business Opportunities”. These young people are the future creators of amazing new companies that can change the world, but instead they are conned out of their time and money.
I want to focus in on one company that in my opinion is conning many young people out of their future.
That company is Vemma which has a CEO by the name of BK Boreyko.
Claim made by Vemma scam:
Unlimited possibilities! We don’t place any barriers ahead of you; we let you determine your own success.
Vemma products may not be displayed and/or sold to the general public in any office or business/commercial outlet, online, eBay, Internet store fronts (with the exception of Vemma’s corporately-hosted Brand Partner Web sites) or through home shopping network programs (i.e., HSN, QVC).
Vemma Policies & Procedures
Our business model is designed to reward those people that promote the Vemma brand products. This is accomplished by devoting almost our entire marketing budget to fund the Vemma Referral Bonus Plan. This plan is based on the simple two team-building concept — a left side team and a right side team. Since there are just two teams to build, this creates excitement as new Brand Partners join, one after the other, down team lines, helping more people benefit from the volume and creating greater leverage within the plan.
There is no retail price for a can of Verve.
You must recruit to receive commission income from Vemma.
Business school deans should be concerned that not only does Vemma resemble companies found to be pyramid schemes, it teaches students all the wrong lessons when it comes to business. Students are taught to disregard business fundamentals — understanding markets, competition, the cost of doing business, and accountability — in pursuit of short-term selling based on quickly attracting other students who are then encouraged to quickly attract other students in an apparent endless chain. – William Keep dean of the business school at The College of New Jersey
This is what the FTC says:
VEMMA pays you a significant Fast Start Bonus ($100, or $200) as a reward for getting your new person started the correct way. This is how many people earn $2000 and more in their first month!
We are all about making you look good?
The BBB Now has a C+ rating for Vemma and they are not accredited. This rating is provided because they claimed to have an A rating and they do not. (The ratings provided by the BBB are a scam in my opinion. The complaints are not.)
Vemma CEO B.K. Boreyko says in a recent video that the NBA signed off on Vemma’s business model after investigating the company’s structure and that it determined “these guys are great.” Truth In Advertising contacted the NBA to confirm, and an official stated that the league has no partnership with Vemma and has never investigated the company’s structure. – Source Truth In Advertising
BK Boreyko claims that Dr. Oz called the Vemma formula his “favorite fatigue fighter.” Oz does indeed list Verve on his website as a “surefire way to get a jolt of energy.” It’s one of the few products listed by name on Oz’s site. This is not an endorsement, his spokesperson insists. You see, Boreyko is an advisory board member of Oz’s charity, HealthCorps, and Vemma has been very supportive, to the tune of $650,000 in donations to the charity. “I’m sure Vemma is a favorite company of Dr. Oz because of its generosity,’’ said Oz spokesman Tim Sullivan. – Source Truth In Advertising
Below are some highlights from complaints filed with the FTC about Vemma.
Read the original BBB text of the complaint from the above graphic about the $2000 upgrade to “Diamond”. You can clearly see that the complaint is real and that Vemma refunded the money.
Here is a video from someone who lost a friend to Vemma.
Red Bull this deadly poison that is killing kids world wide must be stopped by our savior Verve. Ha ha ha. Red Bull contains the equivalent of a cup of coffee in caffeine and 5 teaspoons of sugar. It is not killing kids. Verve has the same level of caffeine as Red Bull. Caffeine is the dangerous chemical in both of these drinks. No deaths have been linked to Red Bull in the reports to the FDA.
Alex Morton has trained 0.10% of Brand Partners to do what he does and make what he makes as a Royal Ambassador. He must be very bad at teaching people what he does and how to make money like he makes money.
This is the response I received from BK Boreyko about my Vemma scam claims:
October 24, 2013 at 5:26 PM
Ethan, To say I disagree with your opinion is an understatement. You are a critic, and like any critic you profess the negative side of business, culture and life. I’m sure if you focused on small business opportunities, you’d point out that there’s up to an 80% failure rate and the average small business takes an after tax investment on average of $30k. Sounds like another scam yet it is the backbone of this economy and the American Dream. You say what you think and I can tell you what I know, this network marketing industry ($30 billion domestic, $167 billion worldwide) can change a person’s life. It took a bankrupt insurance salesman (my dad) and got him debt free and wealthy. I’ve seen it happen thousands of times and you are correct, it doesn’t happen for everyone or even the majority, but what on this planet does? A job, nope, people get fired or a business closes down. Owning your own business, ugh, the odds are really against you. What else is there for the average person? Even you have to admit there’s limited options for people in this economy. I just read that 88% of the jobs created over the last 12 months are part time jobs. You say nothing good about what I do for a living, yet I pump almost $2 million a week back into this economy by putting dollars that would normally get spent with Madison Ave ad execs and instead, put it into the hands of hard working people that believe in the Vemma brands and tell their friends about them. If I wanted to make you happy, I’d ‘go legit’ and start buying traditional advertising. Sorry, I’d rather continue to make my Brand Partners happy. So, you do your videos and blogs and I’ll do my thing. My dad used to tell me we find out how big of difference we make in people’s lives by seeing how many people show up at our funerals. My dad had standing room only at his and my hope is I’ll be able to top his. He’d have wanted that.