Do you think it’s only the “bad” people who do bad things in multi-level marketing? Those who frontload new recruits, dial for dollars at the end of the month (i.e. get people to order products they don’t need), talk only about their highest commission check, lie about how profitable the …
In a past appearance on CNBC’s On the Money, Tracy Coenen talked about how consumers could protect themselves from business opportunity scams and multi-level marketing (MLM) schemes. MLMs parade themselves around as business opportunities, but they are nothing more than elaborate pyramid schemes that swindle millions of consumers each year.
The financial effects of divorce are far reaching. In a one-income household, it’s often even worse. It’s bad enough that one income now has to support two separate households, at least for a period of time. The non-moneyed spouse (the one who hasn’t been working and isn’t the source of …
No industry is immune to fraud schemes. Mortgage fraud and real estate fraud have been problems for a long time. Ups and downs in the real estate market can make developers desperate and may push them to engage in fraud in an attempt to keep their projects afloat. Frauds related …
Despite all the warnings about tax scams, consumers are still falling victim to these types of fraud. Tracy Coenen talks on CNBC about the top five tax scams that consumers should be aware of. This episode is from 2008, but consumers are STILL falling victim to the same scams!!!
Don’t let your Facebook friends fool you: They’re not making money in the multi-level marketing company they keep pitching to you. And you won’t either. Multi-level marketing is not a business. More than 99% of participants in multi-level marketing (MLM) lose money. Companies like Mary Kay Cosmetics promote the “income …
Defenders of multi-level marketing (MLM) will tell you that some companies “do it” right, while some companies “do it” wrong. The fact that a multi-level marketing company like Mary Kay Cosmetics has been around for more than 55 years does not define whether it is a fraud or scam. Remember …
Last week, my friend and colleague Marc Randazza scored a big win for Briana DeJesus in the lawsuit filed against her by Kailyn Lowry. The case against Briana was dismissed after successfully arguing an anti-SLAPP motion. I have my own experience with anti-SLAPP motions, after having been sued for $270 …
Zelle is a popular money transfer app, in large part because it doesn’t charge fees to move money. But fraud is happening there, and banks aren’t giving the money back to defrauded consumers. If you send money to the wrong recipient, good luck getting it back. You cannot recall a …
Hundreds of thousands of Americans get sucked into Multi-Level Marketing (MLM) companies each year. From Mary Kay to Amway to Herbalife to PrePaid Legal, the list is seemingly endless. Each offers its own special spin on the products it sells, but the main focus of an MLM is on recruiting …
