Archives for Scams To Avoid
As the Coronavirus takes a growing toll on people’s pocketbooks, there are reports that the government will soon be sending money by check or direct deposit to each of us. The details are still being worked out, but there are a few really important things to know, no matter what this looks like.
Online Trading Academy (OTA) has collected hundreds of millions of dollars from numerous consumers across the country. In perpetrating their scheme, they have violated the FTC Act and the Consumer Review Fairness Act.
According to the FTC, SBH tells consumers they can replace their job income in six months and gain “financial freedom” in 18 months by selling its coffee, tea, and dietary supplements and recruiting other people to do the same. In reality, the FTC says, the vast majority of SBH Affiliates pay SBH more than they earn.
Young Living has been sued for operating an illegal pyramid scheme created under the guise of selling essential oils for quasi-medicinal purposes. This comes as no surprise to many of us that have seen the complaints made about this company.
Financial services are the perfect cover for a recruiting scams. Throw in a few low value financial services like credit repair and you can run a recruiting scam legally here in the USA. Most of these recruiting scams share little information with you about your chances in making money by selling their financial services for retail prices. They focus on the money you can make by recruiting people into the money making opportunity, buy they remind you that you do not need to recruit. Many of my subscribers have requested that I take a look into the myEcon business opportunity. Here is what I have found.
When I first became a Scam Buster many years ago, one of my goals was to counter the plague of fake scam reports that were created on YouTube to sell money making opportunities. These fake reports had a very simple design. Talk about the money making opportunity and then tell you that it is not a scam. Next sell you the money making opportunity or a method to get leads for the money making opportunity. Some of these fake scam reports would even try to sell you another money making opportunity.
Since MLM scams have developed such a bad name for themselves, marketers are taking advantage of the dislike of MLMs to sell money making opportunities. One money making opportunity is now named "This Is Not MLM". My subscribers have requested that I take a look into the "This Is Not MLM" money making opportunity. Here is what I have found.
The Amway business opportunity has proven after 50 years that year after year it produces billions for the company and little for the active Independent Business Owners that are doing the actual work. There has not been a financial revolution for Amway IBOs in the United States and now most of the income for Amway comes from outside the United States.
DasCoin, which dubs itself the currency of trust, is a hybrid cryptocurrency that works similarly to OneCoin. Anyone who invests in DasCoin does so through NetLeaders, where you use real money (ranging from €100 to €25,000) to pay for your NetLeader license. The higher your investment the more cycles you receive and the greater the amount of DasCoins you can receive by using those cycles.
The foundation that MLM scams are built on is lies. This includes not only the way they are sold, but also in the way that they are defended. When you speak out about MLM scams you will be flooded with comments from representatives of these scams defending them. My mission for my blog is to give you the information you need to defend yourself against scammers.