Great Post on the Realities of Multi-Level Marketing

Since I have gathered quite a following from the pro-MLM and anti-MLM people alike, I thought this would be a great piece to mention. Of course, I found it because Lee linked to me first. Lee Distad’s opinion on multi-level marketing includes: In the case of “financial freedom” schemes, here’s a hint: real stockbrokers and … Read more Great Post on the Realities of Multi-Level Marketing

Suing Short Sellers Who Publish Negative Reports

Reuters published an interesting article about lawsuits against short sellers… like when Overstock sued Gradient Analytics and Rocker Partners. “Short sellers” profit when a company’s stock price goes down. Negative information about companies tends to send the stock price down, so you can see the potential correlation here… short sellers benefit when negative information is … Read more Suing Short Sellers Who Publish Negative Reports

Class Action Suit Filed Against Usana

Dreier LLP Files Class Action Lawsuit Against USANA Health Sciences, Inc. (USNA) Monday March 26, 7:40 pm ET NEW YORK, March 26 /PRNewswire/ — Dreier LLP today announced that a class action lawsuit was commenced in the United States District Court for the District of Utah, on behalf of purchasers of the common stock of … Read more Class Action Suit Filed Against Usana

On Making Money As a Fraud Investigator

The recent publication of a report detailing the results of an investigation of Usana Health Sciences done by Barry Minkow, Fraud Discovery Institue, and other professionals has prompted some criticism. One criticism I’ve seen is the fact that *gasp* the Fraud Discovery Institute is a for-profit corporation and there was a paying client in the … Read more On Making Money As a Fraud Investigator

Usana Sues Barry Minkow

UPDATE: The judge in this case quickly threw out all of Usana’s claims against Barry Minkow, except one. That final cause of action was settled with Usana paying Barry Minkow $200,000. In exchange, Minkow agreed to remove from the internet all materials about Usana under his control. Usana Health Science, the multi-level marketing company investigated … Read more Usana Sues Barry Minkow

Quixtar (Amway) Sued For Being an Illegal Pyramid Scheme

From Robert FitzPatrick of Pyramid Scheme Alert: In a crucial development that could rock the entire multi-level marketing business, a class action lawsuit has been filed this month against Quixtar (Amway) charging that the company is running an illegal pyramid scheme. (filed in US District court in the northern district of California on January 10, … Read more Quixtar (Amway) Sued For Being an Illegal Pyramid Scheme

Pyramid Scheme Alert update

In late November, I announced that I had been appointed to the Board of Advisors of Pyramid Scheme Alert (PSA). PSA is an organization dedicated to educating consumers about multi-level marketing companies and pyramid schemes. While MLMs are technically legal in the United States, the vast majority of them are nothing more than product-based pyramid … Read more Pyramid Scheme Alert update

The evolution of the anti-Mary Kay movement

What began as a loosely organized group of women casually discussing their dislike of the “business opportunity” offered by multi-level marketing companies like Mary Kay Cosmetics, has been slowly developing into an organized, credible attack on the tactics that abuse participants. Pink Truth, a website created and maintained by me, systematically exposes the lies and … Read more The evolution of the anti-Mary Kay movement

Scam Busting: The Real Deal With Amway

I’ve had the pleasure to come into contact recently with Eric Scheibeler, a former “independent business owner” for Amway. He did well by all public accounts, rising quickly up the ranks with his wife. I’ve been reading his book, Merchants of Deception, which details his rise and fall in Amway. The story is disturbing in … Read more Scam Busting: The Real Deal With Amway

Press Release: Fraud Investigator Develops Public Awareness Website Regarding Mary Kay Cosmetics

Milwaukee, WI November 20 2006 . Tracy L. Coenen, CPA, MBA, CFE, a nationally-recognized fraud examiner and expert witness, has developed a website to educate and inform the public about the Mary Kay Cosmetics business opportunity. Pink Truth (www.pinktruth.com) has quickly become a valued resource to hundreds of thousands of women around the world. Coenen, … Read more Press Release: Fraud Investigator Develops Public Awareness Website Regarding Mary Kay Cosmetics