Monday, March 24, 2014

MLM and SCAM NEWS 24-MAR-2014: WCM777 evil spawn, NuSkin Fined in China, KaratBars Warning in Canada

Three bits of scam and MLM related news...

Is Phil Ming Xu Still Involved in Global Unity Despite Tweeting He Got Out?

Phil Ming Xu, who had previously claimed he's no longer involved in WCM 777, Kingdom 777, or Global Unity (or Qianxi, or whatever name they changed to) on Twitter, may have been play word games, according to BehindMLM. A blog in Germany stated outright that Global Unity's "product line" called "Vizinova", is founded by none other than Phil Ming Xu, and has a similar investment structure: put in money, get lots of money out later.

See BehindMLM for details.

NuSkin Fined In China for bad marketing and false claims

Reuters reported that NuSkin will face 540K in fines, and 6 of its salespeople will face 240K in fines, in China, as it faced official investigation by Chinese authorities for pyramid selling and false claims of efficacy. it will revamp its training program in China. Chinese authorities are expected to step up lawmaking and enforcement in this area.

See Reuters Article

Canada's AMF issues warning on KaratBars International GmbH

While AMF did not call KaraBars International GmbH a fraud, it reminds all investors that KaratBars is NOT accredited in any way in Canada, and therefore, there will be no recourse if anything goes wrong, and in such a complicated market of precious metals, things WILL go wrong. Beware.

See AMF warning
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  1. What is your take on Karatbars?

    1. When the governments start warning about the scheme, it's way past spoilage.