The Emperor's got no clothes on - Demystifying XL Results Foundation (Singapore company registration no: 200107729C).
During a recent business visit to Singapore I decided to do due diligence on XL Results Foundation to get answers to questions Mr Hamilton the Chairman was not willing to answer.
Why has someone who labels themselves as Asia's leading wealth consultant and entrepreneur committed to world wide wealth only actually donated SGD$20,000 to charity yet spent an estimated 10 times that on legal bills?
Mr Hamilton is constantly protesting his innocence that he is not a conman, not operating an illegal pyramid scheme and constantly blaming everyone else for his bad press. It doesn't gel.
Fact: Mr Hamilton cannot sell a can of coke in Singapore let alone a USD$10,000 life membership.
What we now know:
1. XL Results Foundation website is a slick website created to give the impression the company is operating as a global entity. It is created with the sole intent to defraud the community and misrepresent individuals. The website has whistles and bells but no substance.
2. XL has only a few thousand actual members worldwide. Many have demanded their money back, including 150 Singapore members, others write it off as a learning curve and are too embarrassed to admit they were duped and many others are inactive.
3. Mr Hamilton says the XL network is 60,000 entrepreneurs this is not the case. Mr Hamilton has not been able to substantiate any of this. The network is swiped from the free linkedin network.
4. XL leverages on the back of online/offline social and business platforms such as OpenBC and Ecademy basically to put flags on their world map claiming they are operating worldwide.
5. Mr Hamilton told consumers he already had 31 XL Franchisees for the XL Caf Chain when in fact only one had actually been sold. Why the lies and why would anyone even consider buying a franchise into an XL caf?
6. The entrepreneur magazine XL Magazine has a publication of only a few thousand copies. It is not audited.
7. Roger Hamilton is the publisher of Expat Living Publications in Singapore it has a circulation of fewer than 10,000 and is not audited. It should not be mixed up with the other original magazine in Singapore called The Expat.
8. Two accountants have resigned from XL Results Foundation as well as numerous staff.
9. The company secretary is Ms Margaret Low of Mloh & Associates. Ms Loh why is XL Results Foundation blocking legal requests for full disclosure of the company accounts admist allegations it is a pyramid scheme with the revenue source the recruitment of membership sales. Surely any company facing such allegations would issue full accounts immediately?
10. XL Results Foundation is alledged to be operating a criminal business a pyramid scheme which can only survive from the constant recruitment of newly duped individuals into the scheme.
11. To deflect the questions lobbied at Mr Hamilton and to protect the scam Mr Hamilton has created a media advisory unit that is managed by Ian Grundy his brother in law. The media advisory unit is slurring a former employee that has been legally gagged by XL for over three years and is now alledging journalists from the Straits Times in Singapore and Fairfax Media Australia did not do due diligence.
12. XL Results Foundation is a private limited business operating an offshore account through a post office box in the Seychelles.
13. Mr Hamilton has posted a legal file which is actually not true. Legal documents have had their dates removed to further mislead individuals and lies abound on this website. Why would XL Results Foundation resort to such extraordinary activity?
14. Roger Hamilton and XL Results Foundation are being propped up by life member's money. Members are simply paying for Mr Hamilton's lifestyle and a scam robbing from one market to pay off the next market until the whole scam unravels.
15. Mr Hamilton and his associates are not providing full disclosure during their sales pitch. Are they advising consumers the company has faced an Asia Pacific Community Petition, the company has been in a legal situation for over three years, that XL is facing allegations it is a pyramid scheme or disclosing the negative media articles.
Mr Hamilton please feel fee to post a rebuttal on here with direct answers instead of your usual ludicrous ramblings blaming everyone else for the state of your rapidly crumbling house of cards.
I would encourage any journalist reading this posting or any consumer association where Mr Hamilton and his XL Results Foundation operate to look into this company and individual.
Further any individual who has purchased an XL life membership should take their documentation to a consumer association or lawyer and find out exactly what you have paid USD$10,000 for - nothing.
Ex xl
Singapore
Hong Kong
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