Benefactor Program
$2017/Month
1. Missouri does not allow benefactor programs (See: Secretary of State-Missouri). They were outlawed here in 1995 and the state is brutal on residents who participate in such.
2. Where do the Schmidts live in Missouri? I live in Missouri and am curious how a Missouri resident could be so blind to the law.
3. A search of Florida corporations shows a Frank Hendricks as owner of only 3 companies (all corps are required to register in Florida regardless of state of Incorporation). All 3 were shut down by the state of Florida under dissolution codes. What are the 12 companies that have made him a "millionaire"?
4. Contact email address is out of Australia.
5. They give a guaranteed income of $2,017 a month. Huge no-no in all states, provinces and countries allowing MLM. This is on two counts (1) Earnings claims for $$ (2) guaranteed income makes it a security
6. Benefactor programs are pure Ponzi schemes... there is simply no other way to define them.
7. The program fails nearly all of the litmus test points by the US Federal Trade Commission and the US Attorney General's office, not to mention every other country's testing for a legitimate business opportunity.
8. Mark my words, this will be converted into an illegal gifting game when the matrix is partially full.
9. Not a single benefactor program has ever lasted. Nearly all had the founders take the money and run and a few even had the promoters (distributors) end up being arrested and charged. At the minimum, the US IRS and Revenue Canada become your new friend.
10. This program is already on the MLM Watchdog radar. Playing in these games is suicide on your reputation.
Case in point:
On June 18, 2002, you emailed me: "I certainly have no interest in being a MLM junkie (!) but desire a solid opportunity." and that you were looking for a reputable and legitimate company. Later that same day, you wrote "I'm still looking... for something with legitimate potential."
On July 25, 2002, you emailed me regarding EMM. I declined and gave you the reasons why.
On August 21, 2002, you emailed me regarding GMT101. I declined and gave you the reasons why.
Now, on September 17, 2002, you have emailed me about an illegal benefactor program.
Every 3 weeks, you did a blast email to everyone you know about a "new" deal....and all 3 deals are bogus.
I don't know about you, but I don't care to ruin my hard-earned reputation and possibly everything I have worked for over the years just to defend myself in court and against the tax authorities.
I think you are genuine in your search for something real and sincerely believe that a REAL MLM opportunity would be your best bet to reach total success. I would like to help you but if this sort of "deal" is your conception of what is real (and legal); MLM is supposed to be, then please remove me from your email address book. I shall respond in kind and wish you well.
Senior Reporter: Steve Reid
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