Tuesday, October 1, 2013

BREAKING NEWS: SEC slaps Troy Dooly of MLMHelpDesk with fines regarding Zeek ponzi

SEC tweeted on 30-SEP-2013


This is none other than "Troy Dooly" of MLMHelpdesk.com (one of the sites listed in "resources" section of this very blog).

Mr. Dooly, self-proclaimed "MLM Advocate", claims to be advocating for the rights of the affiliates and MLM industry in general. However, in the SEC cease and desist, it was revealed that under two successive contracts between Rex Ventures Group, parent company of Zeek Rewards, and Troy Dooly, Dooly was being paid $6000 USD A MONTH to improve the company's image, counter negative press, conduct interviews, and so on and so forth.

And SEC slapped him with a fine for failure to disclose, and actively mislead the public of his involvement with the largest Ponzi scheme in the US (in terms of number of victims).

This is PROFOUNDLY disappointing, not merely to the MLM Skeptic, but to the MLM community at large. Can Mr. Dooly, claiming to advocate for the affiliates, actually be taking money from a company to hide, suppress, belittle, and obfuscate the truth regarding a fraud? According to the SEC, that's EXACTLY what he did.

Can such a trust EVER be regained?



Mr. Dooly himself appears to be rather... ambivalent regarding the disclosure of the sanction. Which I do understand. He is familiar with the FTC disclosure rules, but he apparently was NOT aware of the SEC disclosure rules, and since Zeek was an unreigstered security, SEC slapped Dooly with violation too. Ignorance of a law does not make him immune from the law. 

Furthermore, he was repeated warned by people, such as yours truly, that Zeek is probably a security by Howey Test. On his own website. 

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4 comments:

  1. Replies
    1. He paid a fine and promised to never do it again.

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    2. You can find him now with a weight loss company named "Plexus Worldwide". They have been known to have problems with the FDA, the FTC, Customs officials in Canada and Australia, in addition to selling products under false advertising and making claims about their distributors reaching incomes that are based on products they no longer sell. I should add their top earners are full of bs and can't get their lies straight either. seems like a good fit for him.. http://thepinkdrinkscam.blogspot.ca Thank you for sharing this article.

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