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| Telexfree ad, but where is your money really going? (Photo credit: WwW.UrBaNiCaNo.NeT) |
Those of you who enjoy listening to sweet little lies, go ahead and tune out the truth here.
Those of you actually interested at the TRUTH should read BehindMLM.com, Ponzitracker.com, PatrickPretty.com or this blog here (through Google Translate if you don't read English)
Now, what are common among 2 different ponzi schemes, and the alleged ponzi scheme TelexFree?
FACT: All three claimed to be selling something legitimate
- Ad Surf Daily (ASD) claims to sell internet ads
- Zeek Rewards (Zeek) claims to sell penny auction bids
- TelexFree (TF) claims to sell long distance minutes
- ASD makes you a) buy 'ad package', and b) gives you 'rebates' (up to 2% per day) over X days
- Zeek makes you a) buy 'bids' and b) gives you 'profit share' (up to 1.5% per day) over 90 days
- TF makes you a) buy Adcentral packs and b) gives you $$$ for 52 weeks at up to 250% profit
FACT: All three claimed they are NOT investments because you have to do some inconsequential work to "qualify" for your money... if you give them money first.
ASD has you "watching" some video ads, while Zeek and TF have you POST internet text ads. They are inconsequential and worthless. They cannot possibly the reason you're paying that much. Thus, the logical reason is they want you for your money (i.e. that stuff you "buy").
FACT: All three has a nonsensical business model if you think about it
- ASD: How would you watching each other's ad magically grow revenue if there's no outside source of revenue? Who are buying these ads except EACH OTHER?
- Zeek: Is the company actually making ENOUGH from penny auctions to be rolling in profit to pay out at 1.5% daily? And why pay people that amount for inconsequential work like posting ads when you can hire people in Asia to post that for pennies? (And in fact, some companies offer to post those ads for you for a few dollars a month)
- TelexFree: VOIP has far better providers like Skype, or other chat clients. Why use TelexFree? Why are they paying outrageous rates for inconsequential work? (And in fact, some companies offer to post those ads for you for a few dollars a month)
But wait, there's more! A LOT MORE!
FACT: All three are too small to be doing as much business as they claimed.
ASD, Zeek, and TF are all tiny despite their claim to be companies doing tens of millions or hundreds of millions in business. ASD has less than 10 employees, Zeek had maybe max of 30 (most added in last 6 months to answer customer complaints), and TF has less than 15. Yet TF claimed to have done 1 BILLION in business in 2013.
FACT: All three have problems with banks and payment processors before they closed, and all spread their money among anywhere between 10-50 accounts. Zeek was forced to move banks months before they were closed, and TelexFree was kicked out by Wells Fargo.
FACT: All three have had plenty of warning signs before they were finally busted
FACT: All three have promoters who claimed that government had lost and their scheme is legal for many weeks after the business was closed by authorities.
FACT: All three reportedly have claimed link to God
There are a lot more.
FACT: All three have problems with banks and payment processors before they closed, and all spread their money among anywhere between 10-50 accounts. Zeek was forced to move banks months before they were closed, and TelexFree was kicked out by Wells Fargo.
FACT: All three have had plenty of warning signs before they were finally busted
- Andy Bowdoin asked an accountant/member to check his business, and was told he's running a Ponzi scheme. instead of changing, Bowdoin let the member to take out his money in exchange for not reporting it to the cops.
- Zeek was outlawed in Montana MONTHS before SEC busted them.
- TelexFree was busted in Brazil a full YEAR before it was busted in the US
FACT: All three have promoters who claimed that government had lost and their scheme is legal for many weeks after the business was closed by authorities.
- A few ASD followers actually sued the government claiming malicious prosecution (case dismissed)
- A few Zeek followers actually raised funds for defense (the lawyer showed up at trial, did nothing)
- TelexFree followers sent out fake news claiming bankruptcy was approved and scheme is exonerated, and one co-conspirator named by SEC may be trying to organize a group into "protecting their rights".
FACT: All three reportedly have claimed link to God
- ASD head Bowdoin often claimed that God was on his side after his indictment for ASD, claimed that another suspect scheme, OneX, will make him a lot of money for his defense. Bowdoin is currently serving time for mail fraud in Federal prison.
- Dozens of people posted comments praying to God that Zeek reopen soon after the SEC / Secret Service raid on Zeek back in August 2012, some even claimed that God had brought them prosperity through Zeek and the government is taking it away.
- TelexFree head Carlos Costas said God used him to create TelexFree, and Sann Rodrigues said God made binary which is MLM and he will never stop. Many others invoked name of God and prosperity as reason to join TelexFree.
There are a lot more.
