Here we find many victims of fraud in this article published by Rod Cook of MLMWatchDog.com No matter if we are investing in stocks, being responsible and looking at ways to repair our credit or even if it is researching an online marketing opportunity, DUE DILIGENCE is of the utmost importance.
Network marketing companies are popping up on every street corner offering opportunities to make money even as Credit Repair personal. It seems the scammers attempt to make a network marketing opportunity out of anything. These particular scammers where even offering “identity protection”. Credit USA has managed to create pyramid scheme…I am not sure how some people sleep at night. The thing is that many unsuspecting “just want to make an extra income from home” type individual became involved thinking the opportunity was legitimate. Not according to the Attorney Generals of the States of Delaware and New Jersey where Credit USA was operating.
See Rod Cook’s article below:
CREDIT USA BITES DUST N.J. & DELAWARE CRIMINAL CHARGES
State prosecutors in Delaware and New Jersey slammed the hammer down on an alleged pyramid scheme known as Credit USA Inc. Credit USA purportedly sold credit-repair and “identity protection” services, and operated the company to enrich three criminal defendants unjustly, prosecutors said. Criminal indictments were handed up in Delaware against Terrel Alexander, 41, of Wilmington, Nicole Alexander, 41, and William Love III, 39, of Mount Laurel, N.J. The charges were brought by the office of Delaware Attorney General Beau Biden. Among the charges were racketeering, conspiracy to commit racketeering, securities fraud, theft, selling unregistered securities and conducing business as unregistered brokers or agents. New Jersey Attorney General Paula T. Dow sued the company and Terrel and Nicole Alexander amid allegations of selling unregistered stock and transacting in securities without being registered.
Credit USA sold at least 28,000 shares of unregistered stock to at least 100 investors who forked over more than $125,000, prosecutors said. The scheme was selling shares as recently as September 2009, according to court filings. Shares were sold in “lots” of 100 to members, associates and “proposed officers” of the MLM firm, prosecutors said. “I applaud the coordination among the states to thwart this operation,” said Marc B. Minor, chief of the N.J. Bureau of Securities. “Credit USA’s sale of unregistered stock highlights the public’s need to be more vigilant and to check with the Bureau before investing in order to avoid being victims.” If convicted of all counts in the criminal case, the defendants each face up to 76 years in prison.
Please protect yourself when it comes to your money and your future, either in everyday living or in your business ventures online. To protect yourself find a mentor who knows how to research companies. Not just any mentor, but one who can show you, simply through providing you an education regarding network marketing. Success in 10 Steps is the manual that provides the education.
Never give up on your dreams. The difference between the impossible and the possible lies in a man’s determination. ~Tommy Lasorda
To Your Success
Dave and Darlene Mills
Leadership with a vision