Tag: Melton McClanahan
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DEVELOPING STORY: Thai Police Bust ‘UFunClub,’ Yet Another Cross-Border Network-Marketing Program; Case May Involve $307 Million
UPDATED 9:10 A.M. EDT U.S.A. It’s whack-a-mole via MLM or network marketing — again. There are reports in Thai media about a major pyramid/Ponzi bust involving a cross-border “program” known as “UFunClub.” (See links below.) No American suspects appear to have been arrested or named so far, but Americans have promoted UFunClub. One of them,…
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Joe Borg Of Alabama Securities Commission Tells WSFA That Profitable Sunrise Worked Because People ‘Kind Of Glossed Over The Mathematics’
EDITOR’S NOTE: Alabama was one of the first U.S. states to take action against the Profitable Sunrise HYIP “program,” issuing both an Investor Alert and a cease-and-desist order last month. The C&D lists two alleged “agents” of Profitable Sunrise, demonstrating that a “program” can create problems for pitchmen, perhaps even as the “program” operators make…