California AG says “YTB is a Gigantic Pyramid Scheme”
I have been teaching people how to DoYour homework before you commit to a company or program to avoid pyramid schemes and scams. You need to know what to look for to do the analysis - When You know this it is like having your own crystal ball. You will be able to predict whcih companies are Scams and Pyramid schemes .
Attorney General Brown said
“YourTravelBiz.com operates a gigantic pyramid scheme that is immensely profitable to a few individuals on top and a complete rip-off for most everyone else, Today’s lawsuit seeks to shut down the company’s unlawful operation before more people are exploited by the scam.”
The above quote comes directly from the office of the Attorney General for the State of California. You can view the news release here…. http://ag.ca.gov/newsalerts/release.php?id=1596&
Industry leaders in network marketing industry immediately reported, YTB, or Your Travel Biz, as being a pyramid. They had the knowledge to properly analyze YTB, and to see behind the curtainf
A perfect example is Burnlounge, they too were a publicly traded illegal pyramid. The Attorney General sued them and they terminated the MLM program within a few short days - All of their distributors lost their entire organizations.
Did you know that YTB has released plans to change to a franchised operation. Get the details here;
http://www.ytb.com/downloads/franchiseInfo.pdf
Your overriding concern should be is to find out if your MLM companies pay plan is similar to YTB’s . Once You read this and understand Why YTB is pyramid schem, you can and should review Your company to see if they are similar, I have seen many network marketing companies that have YTB mirror image compensation plans .
Typical companies with low profit margin products and services using Ytb mirror image plans are usually service, and education or technology based operations.
As these companies grow the number of people that get scammed increases, when the pain level increases the Attorney General has to act. This is Why these companies last for 2 or 3 years
You can learn and watch for reports like this one by signing up for Rod Cook’s MLM Watchdog newsletter at http://mlmwatchdog.com
My axiom “Get educated, or get scamed”
You can begin your education process here for Free
http://stsebook.com
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