Case in point: Zeekler/Zeek Rewards. When will "they" learn?
Zeek Rewards should be the final lesson for all of us. Let's hope it is, anyways. Zeek Rewards looked like a security. It sounded like a security. It was a security. An ILLEGAL one.
How so, you ask?
Because it is ILLEGAL to invest money into a company, product, service or vehicle that is PASSIVE...unless it is an FDIC insured investment.
Now the company itself, Zeek Rewards, with its penny auction and commission structure were intrinsically not a passive investment company, but it offered a passive investment opportunity ALSO that was NOT FDIC insured.
Let Zeek Rewards/Zeekler be a lesson to all of us that we cannot be involved in, promote or own an MLM that has passive investment opportunities.
Be careful, because these illegal passive investment/return "opportunities" abound these days.
Here is a partial list of the current and high profile companies/MLM programs that will likely be shutdown because they have non-FDIC insured passive investment "opportunities" that make them look and sound to the Securities and Exchange Commission like they're a security:
- JSS Tripler/Just Been Paid/Profit Clicking
- Unlimited Power Profits
- Banners Broker
- Wealth Creation Alliance
- Profitable Sunrise
- My Harvest America (now in bankruptcy)
- 2010 Blessings (illegal gifting program)
- Turbo Cycler (BIG WARNING to stay away: illegal matrix gifting program)
- Funky Shark
- Bids That Give
- Royalty 7
- Bidify
I know there's quite a bit more, but I got this list largely from Rod Cook's MLM Watchdog site (link below). Rod Cook is the world's highest paid MLM consultant, and he's 99.99% accurate. He's VERY careful to not call something a scam or Ponzi unless he's performed his due diligence. Take what he says as MLM Gospel.
A few additional notes about these types of companies/programs.
Many of them are also named "HYIP (High Yield Investment Programs)". Also known as, Ponzi Scheme.
Protect yourself from lawsuits against YOURSELF by visiting the sites below to keep yourself up to speed on the next HYIP, passive investment that is due to get shut down. You heard me right. The SEC doesn't just go after companies now for this.
Zeek affiliates who made over $5000 in Zeek are likely facing "clawback litigation" soon because those are "illegally gained funds", according to Ken Bell. Ken Bell is the court appointed receiver responsible for recovering Zeek assets and putting them back into the hands of people who lost investments in Zeek.
Some sites that are good resources for keeping yourself protected and well-informed (bookmark my blog page for easy access):
- Rod Cook's MLMWatchdog.com
- TheMLMAttorney.com (Kevin Thompson, a world-renowned MLM Attorney)
- Troy Dooly's MLMHelpdesk.com
This is VERY important information to know and pay heed to because our industry gets seriously threatened when the "few bad apples" spoil our "bunch" for us (not to mention taking litigation heat YOURSELF if you're in an HYIP/Passive investment MLM)!
Let's be "GOOD APPLES", yeah? If you want to make money in this industry you have to either produce (NON-passive) and recruit for yourself or find a good mentor to help you with recruitment skills/signups, etc.
These kinds of mentors abound in this industry, and I can help you find someone who will treat you RIGHT! Feel free to call or email me at the email address and number in my signature line below, and I can steer you in the right direction.
And one last note for you to consider. Freely gotten money with no effort or work is not NEARLY as enjoyable as something you have to earn for yourself! There's NOTHING more satisfying than self-achievement!
I'll leave you with these two famous quotes that are very apropos:
Jim Rohn
"For every disciplined effort there is a multiple reward."
"For every disciplined effort there is a multiple reward."
Thomas Alva Edison
"Genius is one percent inspiration and ninety-nine percent perspiration."
God bless you!
Adrian and Jocelyn Frank"Genius is one percent inspiration and ninety-nine percent perspiration."
CEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
eMail: adrianfrank@gmail.com, jocelyntranfrank@gmail.com www.BeEmpoweredHere.com WATCH this FREE Video. FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network HERE !
No comments:
Post a Comment