Frustrated Network Marketer is EZ Wealth Solutions an Innocent Business Opportunity or a scam?
Definition: Ponzi [pon-zee]
A swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks.
Definition: Illegal Pyramid Scheme
An illegal pyramid scheme is when a person participating in the scheme becomes entitled to receive more money than they invested in the scheme by reason of recruiting others. The recruitment structure forms a pyramid and the money is made through recruitment only, while the product or service has no real value.
The first flag that hit me was that the new recruit paid the upline directly. The upline member chooses the method of payment that is to be used thus leaving EZ Wealth Solutions (Ron Walsh (CEO), Jim Carpenter and others out of the picture. I wonder if that is to protect themselves from the law when the scam falls into the hands of law enforcement.
The second red flag that was plain to see is in the illustration used to describe the business model and that it made very little mention to the (supposed) product being sold. It appeared to me that the taxi and driver analogy being used concentrates on recruiting to make money with a vague mention of product packages.
The third red flag that came up was when I began to look into the (supposed) product. The product is software and ebooks put together into 5 packages with reseller rights. The 5 packages range in price from $47, $97, $247, $497 and $997 and each represent a level of profit to be made. You buy the package that you can afford only once and then sell it to your recruits. You can buy the more expensive packages later when you can leverage your way up to these levels, or purchase them all at once, which will enable you to make more as you sell the package at the new higher level to your new recruits. I call the product a pretend product that is only there to make the business seem legitimate. I found that some is offered free as a gift for joining a company or surfing on some of the traffic exchanges. Others offered information that I could Google and get for free with a little research. In my opinion these packages are full of junk that can be found for free or very little money and certainly not worth the price asked.
EZ Wealth Solutions pays 100% to it’s associates so how does Ron Walsh make his money? There is a $10 a month administration fee, which from my research is a time limited offer which could return to $24.97 per month without notice. I also landed on a capture page that stated that Ron Walsh was the sponsor, I guess the administration fee is not enough, he is direct competition with his associates.
Here are some questions you need to consider before you join this scam or if you are already involved:
Would you, being rational, buy any of the software package if there was not a compensation plan attached?
If the recruiting stops will you still get your pay check?
Is your pay check based on retailing a product or recruitment?
These are the same questions that you will be asked if the law enforcement agencies, get involved and you will be expected to answer these and defend your position. During my research I noted that as a participant you are open for legal action against you which can involve a prison term and fines or both, also paying back what you have made (x2) to the person(s) you recruited.
Past records indicate that when an owner of the scam is up for prosecution that they can and sometime will turn over the list of all participants in exchange for a lesser sentence. Where will that leave you?
If you are in EZ Wealth Solutions or thinking about joining, it would be good to do your research on the business model and it’s legality. As stated there is no excuse that you can use to negate legal action. One of the best tools to use is Google Search which can help you find the information you need to make an informed decision.
If you are going to make a comment on this blog and you are involved in EZ Wealth Solutions I challenge you to go to your District Attorney (USA) or Attorney General (Canada) and ask them if the business model is legitimate before you make your comment.
I cannot tell you what to think but I can teach you how to think.
Learn to be a critical thinker for your own protection.
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Leadership with a vision
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