Archive for October 1st, 2015

BULLETIN: SEC Calls U.S. Fine Investment Arts Inc. (USFIA) A ‘Worldwide Pyramid Scheme’ Tied To ‘Gemcoins’

BULLETIN: SEC Calls U.S. Fine Investment Arts Inc. (USFIA) A 'Worldwide Pyramid Scheme' Tied To 'Gemcoins'

BULLETIN: (7th update 3:26 p.m. EDT U.S.A.) An SEC complaint against USFIA Inc. first reported on Tuesday by the Sierra Madre Tattler and BehindMLM.com now has become public, with the SEC calling the venture a “worldwide pyramid scheme” that gathered on the order of $32 million while claiming it was backed by amber mines and duping […]

Vemma Tells Court Consumers ‘Possibly’ Took Unreasonable Risk In Joining Its MLM Program, But Did So Knowingly

Vemma Tells Court Consumers 'Possibly' Took Unreasonable Risk In Joining Its MLM Program, But Did So Knowingly

“Consumers represented by the FTC knowingly and voluntarily, and possibly unreasonably, exposed themselves to any claimed losses with knowledge or appreciation of the risk involved.” — Part of Vemma’s Sept. 30 defense to pyramid-scheme and deceptive-advertising charges filed by the FTC in August Consumers can be forgiven if they view part of Vemma’s defense to […]