| Author | Message | ||
     jenoc New member Username: jenoc Post Number: 1 Registered: 12-2007 Posted From: 210.69.81.2 |
My friend in Toronto has recently joined an Ottawa based jewelry MLM company Global Wealth Trade (GWT for short), and is trying to convince me to join. The GWT membership fee ranges from $597 + $75 monthly to $3597 + $150 monthly. However in their "presentation" and the ads that my friend pitched to me, there is strangely little focus on its jewelry, but disproportionately strong focus on the rewards from getting new downlines. Today, I did a google search on this company and shockingly I found that its newly appointed VP named "Oliver Koncz" was involved in the TTI pyramid scheme according to factnet. Yet, somehow I could not find any other evidences beside the ones on factnet. Could someone confirm this fact with some additional proofs? Also, is there anyone who could comment on this company?}} | ||
| bruce_audley Intermediate Member Username: bruce_audley Post Number: 316 Registered: 11-2004 Posted From: 75.152.239.233 |
"Jenoc" Back in the early nineties, there was a particular virulent jewellery multi-level company that prospered for some many seasons in Western Canada. As I recall, the initial fees to join were somewhere between $500.00 and $600.00 with additional levels going for $1,200.00. Each new recruit received a "buy-in" kit that included jewellery items. They were encouraged to sell to their friends and neighbours and were even told that the items were so well priced that the recruit could literally sell the items to their local jewellery stores. The company offered several buy-in levels and of course, additional financial benefit when others were brought into the business. On November 17, 1997, "The Federal Trade Commission" settled charges against the owners and the company "JewelWay International Inc.", and it ceased to exist. Please refer to: http://www.ftc.gov/opa/1997/11/jewel-2.shtm . However, by the time the government stepped in, thousands of people had parted with their hard earned money, only to realize that at the very best, they had a box a over-priced, unsaleable jewellery merchandise. For a short while, the retail jewellery industry was swamped with folks attempting to get anything for their items, only to be told that there was nothing of real value in their selection. Time as always, allows people to forget. That is until someone decides to brush off the scheme again and run with it. I cannot comment on "Global Wealth Trade" personally as I know nothing about them. But the tip-off for you should be your senses telling you that this thing smells like a pyramid operation. If in fact it is, their goal as always will be to get the maximum amount of money from you, get you to quickly involve your loved ones and friends financially (sacrifice might be a more appropriate word here) and then, disappear before the authorities realize they are even operating. The onus remains on you as a potential investor to analyze and decide whether or not this company is legit or bogus. All past Canadian experience with pyramids shows us that the authorities are either reluctant to get involved or, simply don't have the legal legs. Though this company operated in both Western Canada and the North Western United States, I should point out that the agency that drove the nail in "JewelWay's" coffin, was a U.S. regulatory agency and not Canadian! I hope this helps in some small way. Bruce | ||
| gatordave Senior Member Username: gatordave Post Number: 2170 Registered: 11-2004 Posted From: 24.141.182.45 |
For radical new approaches you can contact CrimeBustersNow. With the assistance of victims and concerned citizens we expose these scams and "shut them down." It gets easier all the time! dave David J. Thornton President CrimeBustersNow World-Wide Fraud Investigations Consultants in International Money Laundering Fraud Telemarketing Scams Counterfeit Goods Pyramid & Ponzi Schemes Oakville, Ontario www.crimebustersnow.com 905-963-3389 24/7 calls returned toll free in North America and countries world-wide | ||
| fortunes New member Username: fortunes Post Number: 1 Registered: 1-2008 Posted From: 70.54.238.162 |
GWT is a nice ligit company totally focused on their two designer lines with no hype. Best of all it is a Canadian company and we should all support it as appose to comparing it to some American company back in the 90's. | ||
| yahia New member Username: yahia Post Number: 1 Registered: 1-2008 Posted From: 99.237.240.99 |
Thank you Fortunes for your opinion about Global Wealth Trade. I joined Global wealth trade few months ago and found out that, it is the most fair company that I have ever got involved with, within the 10 years that I have been in Network Marketing. In the few months that I have been involved in this company I made more money that I made in the industry in the last few years. I found out that this company, GWT, has an amazing compensation plan that encourages everyone to be financially free. If you ever thought of joining a Network Marketing company or the direct selling industry in general, I suggest you all to pay a good attention to this company. THIS IS A LONG TERM RATHER THAN HIT AND RUN. Regards. | ||
| gatordave Senior Member Username: gatordave Post Number: 2189 Registered: 11-2004 Posted From: 24.141.182.45 |
That's what everyone said about Treasure Traders International before it took 100,000 victims for a hundred million dollar and attempted to open in the U.S. Oliver Kontz was the vice president. And of coure there is Business In Motion and all those before TTI. Just another scam. Now, how many RCMP officers, politicians, university, college faculty and staff, Toronto Dominion Bank or other bank managers and employees are in this scheme. These people are well known to the Federal Competition Bureau that does absolutely nothing to stop their continual defrauding of Canadian citizens and victims world-wide when they can get away with. And BTW this long-term stuff you talk about is B.S. David J. Thornton President CrimeBustersNow World-Wide Fraud Investigations Consultants in International Money Laundering Fraud Telemarketing Scams Counterfeit Goods Pyramid & Ponzi Schemes Oakville, Ontario www.crimebustersnow.com 905-963-3389 24/7 calls returned toll free in North America and countries world-wide | ||
| bruce_audley Intermediate Member Username: bruce_audley Post Number: 325 Registered: 11-2004 Posted From: 75.152.239.233 |
"fortunes" - No businessperson is going to invest (support as you say) in a company merely because it is based in a certain country. In fact if anything, it is the exact opposite. Global economies and political regimes in some countries make investment situations highly speculative and risky. From a business standpoint, Canada lags far behind the United States in not only enforcement of existing corporate laws but; the consumer protection that so many American citizens take for granted in their county. Case in point. Currently, one of the hottest selling jewellery brands in Canada, belongs to a company called "Q-Ray". This line is advertised as being ionized and at some retail counters, the cure for anything and everything related to pain. So where is the problem you might wonder? In the United States, the Federal Trade Commission won its case against the owners of this company (Federal District Court of Chicago - Sept. 8, 2006) and they were ordered to pay a staggering $87,000,000.00 ($22,500,000.00 in immediate compensation and a further $64,500,000.00 to cover consumers that purchased during the period leading up to and including Sept 28, 2006). One might obviously assume from this ruling that "Q-Ray" would shut down as a company but that assumption would be incorrect! They simply moved to Canada. Our own "Competition Bureau of Canada" has no stomach for challenging operations such as this and one only need look at the ongoing success of pyramids in Canada to get a full appreciation of how little Canadians are protected by our legal and corporate enforcement system. By the time the "Q-Ray" issue shows up on the radar screen of our law makers, they will be long gone with hundreds of millions of dollars and the consumer wondering how the government could have allowed this to happen. Forums such as this and consumer shows like the successful "MarketPlace", are all we have in this country to protect us from any company wanting to take advantage of us. Pyramid businesses abound and flourish in Canada and the reason is because there is not one single government agency that is interested in tackling them. One only need reflect back to the company "Treasure Traders International Co." was hatched in Mississauga, Ontario only a few short years ago. At the very time that they were thrown out of the United Kingdom and they were unsuccessful in gaining a tow-hold tin the United States, they were cleaning up in our country. The irony is, all three of our countries have the same basic laws regarding pyramid businesses and yet we are the only one of the three that does not enforce the law in this area. I leave the question of "WHY" to smarter folks but the Canadian business landscape is covered with hidden mine fields and unscrupulous people looking to place your money in their pockets. For all effective purposes, you might as well state that pyramids are legal in Canada because in the absence of enforcement, they are! If "Global Wealth Traders" is a legitimate business is Canada, then they will have absolutely no difficulty with full transparency of their operation. But if any part of their corporate structure rests on the platform of "bring in more potential investors below you and the more you add to your down-line, the more you yourself will make", then you have a classic pyramid and I would RUN not walk for the exits. Bruce | ||
| gatordave Senior Member Username: gatordave Post Number: 2193 Registered: 11-2004 Posted From: 24.141.182.45 |
Well put! dave CBN | ||
| gatordave Senior Member Username: gatordave Post Number: 2194 Registered: 11-2004 Posted From: 24.141.182.45 |
Ask Oliver Koncz about the evening when a senior citizen walked up on stage in a London hotel, grabbed him by his sleeve and placed him under a citizen's arrest for Operating an illegal pyramid fraud, and called 911. Ask him about the fracas that ensued with the London Free Press taking notes and the London police recording the whole thing. Nothing happened! Police buried the file and the investigation. The London Free Press cooperated with police and "killed the story:" The public was never told such an event even took place in their City. Then TTI was shut down by England's High Court. The top people, including Hamilton RCMP officer Harold Stewart's father, Dave Stewart, who was invoilved in the "Little Green Petrol Pill," have, as you witness, all branched off in different directions with ever more pyrmaid/Ponzi fraud. That's why I was asking about the RCMP OPP etc, if they are involved as heavily in this as they were TTI & BIM. You will find "good stuff" here and a qualified lawyer to give a official legal opinion should you wish to spend a bit, before you risk losing a lot! http://www.bizop.ca/blog2/pyramid-schemes/index4.html That seems incredible. But this is Canada. And that's HOW it's done!!! inaction and suppression! WHY IT IS DONE??? Now, that is a HUGE story unlikely to be told in this country. BTW I was that senior. Check out the first and last stories on the first open page on the link above. David John Thornton - CBN |
