Tag: Vemma
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In Wake Of Herbalife Probe And Vemma Litigation, ESPN Asks If AdvoCare Is Pyramid Scheme And Pusher Of False Hope
“And while the company claims its primary objective is selling products, many of its distributors tell a different story. ESPN interviewed more than 30 current and former salespeople, the vast majority of whom said their focus, and the focus of their superiors, was on recruiting other distributors. These new members, many of whom are drawn…
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REPORT: Vemma Europe Ltd. In ‘Provisional Liquidation’
3RD UPDATE 4:11 P.M. EDT U.S.A. There is a Twitter report in Spanish dated today that Vemma Europe Limited has been put in “provisional liquidation” and that the High Court of Ireland has appointed a provisional liquidator to verify claims. The PP Blog has observed a message on a Vemma.es domain that identifies the provisional liquidator as…
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BULLETIN: FTC Alleges Vemma’s Boreyko Violated Order After Judge Entered Preliminary Injunction
BULLETIN: (3rd update 10:17 p.m. EDT U.S.A.) The Federal Trade Commission has gone to federal court in Arizona, alleging that Vemma CEO B.K. Boreyko violated a court order within 11 days after a federal judge imposed a preliminary injunction against the MLM company. Boreyko contacted certain affiliates on an unknown date with Vemma “sales or marketing material” in…
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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…
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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…
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VEMMA REP: FTC Used ‘Overlarge . . . Strap-On Dildo’
EDITOR’S NOTE: On some days, it seems as though no one in MLM has any PR savvy. This is one of those days. Positioning himself as an insider who has spoken with Vemma CEO B.K. Boreyko, one of the company’s top affiliates took to the Internet today to declare the Federal Trade Commission appears to…
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URGENT >> BULLETIN >> MOVING: Evidence Before Court Leaves ‘Little Doubt’ FTC Will Prove Vemma Is Pyramid Scheme, Judge Says
6th Update 6:41 p.m. EDT U.S.A. A federal judge has issued a much-anticipated order in the Federal Trade Commission’s pyramid-scheme case against Vemma that says “[t]he evidence before the Court leaves little doubt that the FTC will ultimately succeed on the merits in demonstrating that Vemma is operating a pyramid scheme.” U.S. District Judge John J.…
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Transcript Shows Courtroom Clash Between Vemma And FTC
Vemma critic Truth In Advertising has posted a transcript of the Sept. 15 battle in Arizona federal court between Vemma and the Federal Trade Commission over the preliminary injunction, asset freeze and appointment of a receiver. Vemma hopes to undo these things or at least to modify them in a way that would put the company…
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BULLETIN: Name Of Herbalife Refugee Anthony Powell Surfaces In Vemma Pyramid-Scheme Case
2ND UPDATE 4:16 P.M. EDT U.S.A. Former Herbalife President’s Team member Anthony Powell is referenced in a report by the court-appointed receiver in the Vemma pyramid-scheme case filed by the FTC last month. The mention is potentially embarrassing to the MLM trade, which has a reputation for recruiters dragging financially strapped prospects from scheme to…
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Vemma Called ‘Pyramid Scheme’ By FTC; Direct Selling Association’s Early Response Muted
UPDATED 6:44 P.M. EDT U.S.A. The Federal Trade Commission voted unanimously (5-0) to charge Vemma Nutrition Co. with operating a pyramid scheme. So much for the absurd proposition that Republicans on the commission are like hapless “Wheel of Fortune” contestants who couldn’t form the term “pyramid scheme” if spotted 12 of the 13 letters that comprise it. Want…