Okay folks, sorry for not updating the blog for a week or so. Had been busy doing some other stuff... like playing way too much Doctor Who Legacy. Any way, articles are coming back next week. In the meanwhile there are some news to tide you over.
Remember, I link to the source, so click through if you want more details. Don't believe random people telling you some sort of news, then provide a link to their own website with no further citings.
See BehindMLM article: http://behindmlm.com/companies/zeek-rewards/howard-kaplan-gave-bad-legal-advice-to-850m-ponzi/#more-19145
Which contains links to the actual court documents, courtesy of ASDUpdates.
It is worth noting that the top distributors in the lawsuit claimed to have lost at least $10000 dollars, and that Herbalife have inserted a clause that bars participants from suing the company or even joining existing lawsuits in 2013, requiring the participant to go through arbitration.
Keep in mind that with 1.5 million participants (people who joined Herbalife after 2009, but before the arbitration clause got inserted) even $1000 per participant would mean 1.5 BILLION dollars had to be paid out. THAT will sink Herbalife stock like the Titanic.
See BehindMLM for coverage. http://behindmlm.com/companies/herbalife/herbalife-looking-to-settle-bostick-class-action-2/
Recently she filed a motion claiming financial difficulty with the court pleading for partial release of her assets to pay her lawyer. However, on social media, she's busy promoting Dubli (with a trip to Dubai, where she appeared on stage) and RE24/7/365 (where alleged screenshots of her backoffice leaked showing she should have made thousands through recruitment), both of which are suspect recruitment-based schemes.
See BehindMLM for details: http://behindmlm.com/companies/telexfree/faith-sloan-unable-to-support-herself-financially/
Remember, I link to the source, so click through if you want more details. Don't believe random people telling you some sort of news, then provide a link to their own website with no further citings.
Howard Kaplan claims he cannot be negligent regarding Zeek Rewards
In June Zeek Rewards receiver Ken Bell sued Howard Kaplan (the tax attorney who advised Zeek Rewards at a widely publicized event) and MLM lawyer Kevin Grimes for legal malpractice. Kevin Grimes have been since ousted from what used to "Grimes and Reese PLLC", and the company renamed "R & R Law" with a new partner in his place. We learned, on in late July / Early August 2013, Howard Kaplan's attorney(s) has denied any responsibility and wants to case to be dismissed, not because they're not guilty, but because they argue that a guilty party (i.e. Zeek) cannot sue its consultants/lawyers for malpractice because of "in pari delicto", a legal term that roughly means "both are equally at fault". Zeek Receiver Ken Bell have since fired back a reply to the court that Kaplan's reasoning is flawed, and urge the case to continue.See BehindMLM article: http://behindmlm.com/companies/zeek-rewards/howard-kaplan-gave-bad-legal-advice-to-850m-ponzi/#more-19145
Which contains links to the actual court documents, courtesy of ASDUpdates.
Herbalife Wants to Settle Bostick Class-Action Lawsuit
Back in April 2013 Dana Bostick filed lawsuit against Herbalife, alleging racketeering, fraud, pyramid scheme, and other things against Herbalife. Herbalife then responded with variety of delaying tactics, including "motion for dismissal" which basically means "this lawsuit is not worthy of the court's time (it's bull****)". US District judge Beverly Reid O'Connell disagreed in October 2013 and allowed the lawsuit to proceed. Since then, Bostick has managed to find several other victims who were willing to speak up against Herbalife, and now in September 2014 comes the news that Herbalife may be willing to pay them off (i.e. "settle"). However, it seems that Bostick wants to make a "class action settlement" that would cover 1.5 million people. Negotiation is still in progress.It is worth noting that the top distributors in the lawsuit claimed to have lost at least $10000 dollars, and that Herbalife have inserted a clause that bars participants from suing the company or even joining existing lawsuits in 2013, requiring the participant to go through arbitration.
Keep in mind that with 1.5 million participants (people who joined Herbalife after 2009, but before the arbitration clause got inserted) even $1000 per participant would mean 1.5 BILLION dollars had to be paid out. THAT will sink Herbalife stock like the Titanic.
See BehindMLM for coverage. http://behindmlm.com/companies/herbalife/herbalife-looking-to-settle-bostick-class-action-2/
Serial Ponzi Participant Faith Sloan Claims to be Poor, keeps joining more possible Ponzi schemes
Those who track the shady world of possible Ponzi schemes (endless chain recruitment money games) should be no stranger to the name of Faith Sloan... Who had a hand in most of the big name Ponzi schemes in recent history, esp. TelexFree. She's under an asset freeze order after TelexFree due to potential asset dissipation, as she was one of the top promoters of the scheme and net winner (to the tune of over a million) and specifically named in the SEC lawsuit.Recently she filed a motion claiming financial difficulty with the court pleading for partial release of her assets to pay her lawyer. However, on social media, she's busy promoting Dubli (with a trip to Dubai, where she appeared on stage) and RE24/7/365 (where alleged screenshots of her backoffice leaked showing she should have made thousands through recruitment), both of which are suspect recruitment-based schemes.
See BehindMLM for details: http://behindmlm.com/companies/telexfree/faith-sloan-unable-to-support-herself-financially/
