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Cryptocurrency scam victims increase, while revenue from scams decrease 75% in 2020: Report

By Corey Augenstein / May 21, 2022

Total scams around cryptocurrencies declined from around $9 billion to under $2.7 billion in 2020 Written by FE Online May 7, 2022 6:14:43 pm Click to share on Twitter (Opens in new window) Click to share on Facebook (Opens in new window) Click to share on WhatsApp (Opens in new window) Data from the report showed…

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Eric Tippetts Announces Version 3.0 of Innovative Network Marketing App

By Corey Augenstein / May 21, 2022

NEWS PROVIDED BY Half Day Media May 10, 2022, 15:15 GMT SHARE THIS ARTICLE Rocket Recruiting offers streamlined network marketing tools for entrepreneurs Not only are our members growing their businesses everyday, they are helping make a significant impact on ending world hunger.” — Eric Tippetts, founder of Rocket Recruiting LOS ANGELES, CALIFORNIA, UNITED STATES,…

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Odisha Direct Selling Industry Grows At 13.3%, Clocks Rs 1034 Cr. Mark In 2020-21: Survey

By Corey Augenstein / May 21, 2022

By Pragativadi News Service On May 14, 2022   Bhubaneswar: Direct selling industry in Odisha has recorded a growth rate of 13.3% despite adverse business conditions caused by the Covid19 pandemic, reaching an all-time high of Rs 1034 cr. during the Financial Year 2020-21, according to an Annual Survey Report released by Indian Direct Selling Association (IDSA) here…

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Proposed FTC rules target multilevel marketers, ‘dead-end debt traps’

By MLM Insider / May 21, 2022

New regulations could lead the agency to seek stiff penalties for businesses that make false claims about income opportunities for prospective participants. Duffy Hayes | May 19, 2022 The Federal Trade Commission has proposed new rules to challenge what it calls “bogus money-making claims,” and multilevel marketing companies—many of whom operate in the nutrition and…

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FTC sends $149 million in refunds to people harmed in alleged AdvoCare pyramid scheme

By Corey Augenstein / May 6, 2022

Seena Gressin May 5, 2022   The FTC is returning more than $149 million to people who lost money to AdvoCare International, a former multi-level marketer that the FTC says operated a pyramid scheme disguised as a business opportunity and swindled hundreds of thousands of people who signed up to be distributors of its health-and-wellness products.…

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LR Group Sales Increase 4% in 2021

By Corey Augenstein / May 4, 2022

BY DSN STAFF WRITER | MAY 02, 2022 LR Group reported its full year financial report for 2021, announcing EBITDA at the upper end of its earnings forecast and a 4% increase in group sales.The company prepared for future growth by strengthening its capital market capability and establishing LR Health & Beauty SE as the new parent company of…

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Medifast, Inc. Announces First Quarter 2022 Financial Results

By Corey Augenstein / May 4, 2022

NEWS PROVIDED BY Medifast, Inc.  May 02, 2022, 16:05 ET BALTIMORE, May 2, 2022 /PRNewswire/ — Medifast, Inc. (NYSE: MED), the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, today reported results for the first quarter ended March 31, 2022. First Quarter 2022 Highlights Compared to the Prior-Year Period Revenue increased 22.6% to $417.6 million 21.7% growth in the…

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Stemtech Announces Name and Symbol Change 

By Corey Augenstein / April 23, 2022

BY DSN STAFF WRITER | APRIL 21, 2022 | READ / DAILY NEWS Effective immediately, Stemtech Corporation has officially changed its corporate name and ticker symbol. The company was previously known as Globe Net Wireless Corp. The new symbol, now STEK, was announced on FINRA’s Daily List of corporate actions.“We are pleased that our name and symbol change request has been processed by…

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ED freezes Amway assets worth Rs 757 crore: What is the multi-level marketing company’s pyramid fraud?

By Corey Augenstein / April 19, 2022

The ED has said that an investigation into money-laundering allegations against the company has revealed that Amway is “running a pyramid fraud in the guise of direct selling multi-level marketing network” FP Explainers April 18, 2022 20:50:04 IST The Enforcement Directorate (ED) on Monday attached assets worth over Rs 757 crore belonging to Amway India…

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QAnon Leaders Push Followers Into Multi-Level Marketing

By Corey Augenstein / April 18, 2022

Move over, LuLaRoe—Q’s gang is getting into MLMs. Will Sommer – Politics Reporter Updated Apr. 15, 2022 5:13AM ET / Published Apr. 15, 2022 4:53AM ET  In a December livestream to his QAnon fanbase, conspiracy theorist Phil Godlewski laid out what he described as the key to their financial futures: buying silver. The precious metal, Godlewski insisted, would soon explode in value after the passage of…

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