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The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
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SeneGence International, Inc. (also known as SGII, Inc.) is a privately owned American multi-level marketing (MLM) company that sells skincare and makeup products, including the LipSense product line. The company was founded in 1999 by Joni Rogers-Kante who is the CEO and chair. The company is headquartered in Foothill Ranch, Lake Forest ...
Equinox. Equinox International was a multi-level marketing company founded in 1991 and headed by Bill Gouldd. [1] In 1996, Equinox was listed #1 on Inc Magazine 's list of the 500 fastest-growing private companies in the United States. The company and its founder came under scrutiny for its business practices; starting in 1997, investors, the ...
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Fortune Hi-Tech Marketing. Fortune Hi-Tech Marketing ( FHTM) was a Lexington, Kentucky based company which used multi-level marketing to sell consumer goods and services. The company was founded in January 2001. In January 2013, the Federal Trade Commission (FTC) and regulators for three states shut down FHTM for being a pyramid scheme.
Amway (short for "American Way") is an American multi-level marketing (MLM) company that sells health, beauty, and home care products. [2] [3] [4] The company was founded in 1959 by Jay Van Andel and Richard DeVos and is based in Ada, Michigan. [5] Amway and its sister companies under Alticor reported sales of $8.9 billion in 2019. [1]
Rodan + Fields distributes via multi-level marketing, which has been criticized by consumer advocates as akin to a pyramid scheme. Consultants focus on social media, phone and in-person presentations to sell products and invite others to join their team. The average 2015 annual income for a consultant was $3,182.