Wealth Pools International is a new MLM - PONZI scam located in Orlando, FL and Mobile, AL. The founder Robert E. Lane has been involved in many MLm companies over the years and most have failed and gone out of business.
For example one travel related business The Winners Circle. He was shut down by the Florida State Attorney General and then he conveniently filed bankruptcy.
The company Wealth Pools International is a multi level marketing scam that sells a Talk 'n Tutor DVD that teaches English to Spanish speakers and Spanish to English speakers all for only 199.95 and if you purchase the Talk n' Tutor you automatically can become an independent distributor for their company for no additional charge.
Of course to get credit for your sales of the "talk 'n tutor" program, you must take the MAP {Marketing Assistance Program} which is an additional cost of $450.00, now the kicker is when you take the MAP class it is covered how you make commissions of 10.00 for each 199.95 sale that you make also known as generational commission. Then it is revealed that for every person you sponsor into the program when they purchase the MAP class which must be taken to get credit for your sales... You'll get 119.00 as a commission which can increase up to $169.00 per recruitment depending on your "performance" which of course is based on the amount of members that you recruit to take and pay 450.00 for the MAP class. The company's literature states no commissions are paid for the "recruiting of members" only on sale of the programs. Red Flag #1.
Wait it gets even better, they claim that you can "BUY" your way into the program and people are saying that if you invest leverage pool #1 for $662.95 your monthly payout will be $53.15 for life, or buy into the Achievers Pool for $2,652.79 and your monthly payout will be 225.15 for life, invest in the Leaders Pool for $4,675.79 and your monthly payout will be $496.25 for life or the investment in the Executive Pool of $29,066.22 you will make a payout of $5250.15 monthly for life all without doing another thing because they use a percentage of the money from the new sales and the renewals fees to be put into pools that is how they make the pay outs. This is nothing more than a PONZI scheme that will eventually FAIL and leave people ripped off some will no doubt be losing their life savings, also I find it interesting that when you become a independent distributor that you are offered a "No Financial Risk" certificate underwritten by United States Administrative Services Inc, which is also known as CASH BACK AMERICA which the Founder & President of Wealth Pools, Robert E Lane serves as CASH BACK AMERICA's TREASURER, not illegal but definately a conflict of interest. Do you really think he'll refund any money if you make no money in 90 days? And that particular company Cash Back America is being investigated for 501 violations and the Commonwealth of Pennsylvania has filed suit against the company for deceptive practices.
The better business bureau pulled companies that Mr. Robert E Lane has been associated with.
The Winners Circle: No longer in business filed bankruptcy
http://www.orlando. BBB.org/codbrep.html? ID=1045311&cons=y&wlcl=y&fromWin=SearchStd.Asp
Cash back America: which is being sued by the Commonwealth of Pennsylvania and several other states for deceptive practices.
Http://www.orlando. BBB.org/codbrep.html? ID=22003090&cons=y&wlcl=y&fromWin=SearchStd.Asp
Wealth Pools International: http://www.orlando. BBB.org/codbrep.html?
ID=152201468
According to the Federal Trade Commission, any plan that offers to pay commissions for recruiting new distributors should be avoided. Most states outlaw this pyramid practice. Such plans inevitably collapse when no new distributors can be recruited and most people lose all of their investment.
Neither the Federal Trade Commission nor the Better Business Bureau can offer legal advice about whether you should join such a plan. You must make that decision yourself. The FTC and BBB do suggest you use common sense, and consider these tips when making your decision:
Is the focus on lining up recruits or selling the product? Be cautious of plans that claim you will make money through continued growth of new distributors you recruit — rather than through your direct sales of the product to customers. Avoid any plan that includes commissions for recruiting more distributors.
What is the product? Is it competitively priced and likely to appeal to a large customer base? Plans that require you to purchase expensive inventory can collapse quickly.
Are the claims believable? Beware of plans that claim to sell miracle products or promise enormous earnings.
Ask the promoter to substantiate such claims with hard evidence.
Beware of shills. Promoters can pay "decoy" references to boast of their fictional success.
Don't pay or sign any contracts in a high-pressure situation. Take your time and talk it over with your spouse, a knowledgeable friend, an accountant or lawyer before making your decision.
Recognize your responsibilities. If you decide to become a distributor, you are legally responsible for the claims you make about the company, its product and related business opportunities. That applies even if you simply repeat claims you read in a brochure or flyer.
Also just recently I received an email saying they will no longer accept Credit cards or personal checks, only Cash, Money Orders or Cashiers Checks another sign of trouble in paradise.
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