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Not sure this is the right sub group, couldn't find a sub group for potential [problem]s. I say they are pyramid/ponzi scheme ......, my friend thinks they are not. Their whole business seems to be based on pay a yearly membership of £650 for some emotional mentoring and some free webinars and creating a feminine network. Then pay some more; £15,000-20,000 to become a group director and make money by starting your own group and get members for £650 each/per year. There seems to be NO products or services to be sold in lieu of memberships so members seems to be the only way of recouping your investment, which is what a legal MLM would have. This to me really screams pyramid/ponzi scheme and not legit MLM. Also weirdly there are NO reviews about them at all, nothing despite running since 2007/2008ish. The only things written about them are directly on their own websites or paid up members and directors own websites. I suspect they work hard on removing negative stuff about them. And for supposedly being good at network having no comments on their YouTube videos and other sites to me says that if nothing else they are rubbish at their main job of networking. All this makes me suspicious. I would love your advice, input and views on this. My aim is to help a friend avoid a dodgy scheme.
A bankrupt stockbroker who defrauded £316m from people has been ordered to pay a nominal £1 fee. Nicholas Levene, 48, was jailed for 13 years after he admitted a Ponzi scheme which brought millions into his bank accounts between April 2005 and September 2009. Levene, from Barnet, north London, took investors' money to buy shares on their behalf but spent it on luxury cars and yachts. His assets are being investigated. He filed for bankruptcy in October 2009. 'Nominal sum' Levene admitted 12 counts of fraud, one count of false accounting and one of obtaining a money transfer by deception. The amount attributed to his false accounting was £32,352,027. But with his customers' lost profits, the amount reached a total of £101,685,406. At Southwark Crown Court Judge Martin Beddoe said: "It seems to me entirely pragmatic that his assets are seized by the trustee in bankruptcy. "As there is nothing available, I direct that he should pay the nominal sum of £1 within seven days." Levene, who was not in court, has admitted defrauding a series of business people including Sir Brian Souter and his sister Ann Gloag, the founders of the Stagecoach bus and rail group, and Richard Caring, owner of The Ivy and Le Caprice restaurants in London's West End. Investigators found evidence of round-the-world trips, yacht hire and top hotel stays in Australia, South Africa and Israel. More: http://www.bbc.co.uk/news/uk-england-london-21927450