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Montana State Auditor's Office warns residents about WorldVentures.
"Pyramid schemes are illegal. Participants in a pyramid scheme that attempt to recruit new members are violating the law and may face administrative, civil or criminal actions against them. If you or someone you know has been approached to get involved in World Ventures or similar programs, please contact the Montana Securities Division at (800) 332-6148." sao.mt.gov/news/20081117ButtePyramid |
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WorldVentures profits off of their 70% failure rate. Their high pressure sales tactics are used to intimidate people into making a rash decision.
Slides such as "Momentum" displayed above and verbal misrepresentations being made regarding the status of the company and the immediate potential earnings.... Other sales tactics such as the slide dipicting "YOU" out to the left and "BOB" in your place in the pyramid therefore, "BOB" is going to get all the profits "YOU" missed out on because you didn't sign right then and there- is another example of misleading the prospect..... Only handing the recruitee a 2 page contract (and in some cases only 1 of the 2 pages, as mentioned in this thread) and verbally telling the recruitees "It's just a standard contract". Yet, the 2 page contract contains stipulations that the recruitee agrees to abide by a Detailed Compensation Plan and Policies & Procedures, neither of which were provided to recruitee to read/review, nor were those agreements even verbally disclosed..... Utilizing misleading sales techniques from companies the FTC shut down for deceptive practices, i.e. "MOMENTUM"... Omitting and deceiving the public of the involvement WV executives truly had with "companies with less than stellar reputations".... Training new reps to use deceptive tactics when inviting prospects to meetings "Be in a hurry", "Keep from explaining"... I personally witnessed a WV Representative state they are claiming certain tax deductions, in an attempt to lead prospective recruitees into believing they too could get said tax deductions by being a WV rep, when in fact those particular deductions he stated he was claiming are not allowable AT ALL per IRS regulations (confirmed by my attorney)... I also personally received an email from a WorldVentures rep stating she had "gotten all her money back" that she originally invested in becoming a WV rep through WV profits. Further investigation revealed she actually had a several hundred dollar loss.... In my world, these tactics are unethical, and in some cases - even illegal. Preying on people's emotions, exploiting their trust, and sending them away with a financial loss and a sense of shame through a feeling of failure. Couple that with the high unemployment rate right now, a perfect breeding ground for more victims, victims desperate and willing to accept just about anything they are told just so for a glimpse of hope that they can provide for their family. |
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