Original Article from Lou Abbot of MLM The Whole Truth The news behind the August 17th SEC closure of Zeek Rewards was the worst news for our industry that I have seen in my now 15 year career as a Network Marketing professional. Let’s at least all learn some lessons from the events. I invite you to consider two new posts at the site: Are …
by louabbott on August 30, 2012 Final thoughts and important lessons on the closing of ZeekRewards From time to time a subscriber to this site will post a comment something like this, “Why all this talk about pyramids and Ponzi’s on your site? Everyone knows the difference!” Ponzi schemes are illegal… Well, obviously NOT! And it contributes significantly to the single largest challenge that all …
by louabbott on August 29, 2012 In this article, MLM attorney Gerry Nehra explains one of the first and most important aspects to a network marketing or MLM program for it to pass legal scrutiny and laments the seeming decreasing percentage of the good plans. Please take the time to understand it and follow his advice. by Gerald P. Nehra, Attorney-at-Law I am tired of …
Ramblings Of A Tired Lawyer, or Where Have All The Products Gone? Read More »
Late July 2012… I was called by a ‘really good friend’ who wanted me to join ZeekRewards.com (Zeek) as a way to make ‘easy money’ and that they had calculated a compound formula that would double my money every so many days… I said it sounded like a “Ponzi Scheme” (where they incoming money pays for the ‘commissions’) I was told that it was legal …
SEC Shuts Down Zeek Rewards – $600 Million Online Pyramid and Ponzi Scheme Read More »