"Buy 1 for yourself and get the chance to sell your friends and family 5 and get your downline started!" We examine the multi-level marketing industry, where only the people who come up with the ideas make any money, and everybody else is left unhappy, broke, and tired of reading scripts and selling overpriced vitamins and similarly worthless products. Includes Global Prosperity, Pinnacle Quest International, IRS Codebusters, Stratia, and other new Global Prosperity scams.
UniPay2U provides both gold and gold storage in what they call a professional bullion vault. Individuals who use the service have their purchases stored by Via Mat in Switzerland, United Kingdom, or the United States. The service also allows users to buy, trade and sell with other members via UniPay2U's order board.
Next, what the company actually did and what makes them apparently a MLM.
According to reports, on several occasions the chairman and managing director withdrew large sums of money from the company accounts under the guise of paying commissions and company expenses, when in fact most the funds were deposited into a personal account of the managing director.
The Anti-Corruption Commission yesterday filed a case against the chairman and the managing director of unipay2u Bangladesh, a so-called multilevel marketing company, for amassing money by cheating people.
Disciple of the cross and champion in suffering
Immerse yourself into the kingdom of redemption
Pardon your mind through the chains of the divine
Make way, the shepherd of fire
According to reports, on several occasions the chairman and managing director withdrew large sums of money from the company accounts under the guise of paying commissions and company expenses, when in fact most the funds were deposited into a personal account of the managing director.
That doesn't make it an MLM. Pyramid chain recruiting with tiered commissions favoring the tippy-top would make it an MLM.
Withdrawing and keeping the money under false pretenses makes it an embezzlement fraud.
"Never try to teach a pig to sing. It wastes your time and annoys the pig." - Robert Heinlein
Kestrel wrote:
That doesn't make it an MLM. Pyramid chain recruiting with tiered commissions favoring the tippy-top would make it an MLM.
Withdrawing and keeping the money under false pretenses makes it an embezzlement fraud.
I said that since it states they were supposed to be paying commissions.
Disciple of the cross and champion in suffering
Immerse yourself into the kingdom of redemption
Pardon your mind through the chains of the divine
Make way, the shepherd of fire
Disciple of the cross and champion in suffering
Immerse yourself into the kingdom of redemption
Pardon your mind through the chains of the divine
Make way, the shepherd of fire