Ibiz Interviews was lucky enough to catch up with Sam Shooter, who has been investigating and providing legal advice for MLM companies for 17 years now.
We discussed the new profit share companies that are riding a close line of ponzi…including profit-share veteran Neobux.
I hear daily earnings per pack have slowed during recent times. Neobux, in my opinion, is playing on the FTC v Amway 1979 ruling which Amway benefited from. The FTC gave criteria for Amway to follow, such as percentages of sales that are actually consumed, nevertheless, Amway in recent times has had to defend itself in countries around the world which has resulted in arrests and closure in certain territories.
People who administer Ponzi, pyramid, cyclers and matrix schemes have discovered advertising is a great enabler to separate money from the sheep. Banners Broker claimed to join the gap between advertisers and publishers – but was a pure Ponzi – then came along AdHitProfits which bridged the gap and made participants click x amount of adverts per day thereby meeting the requirements set out in the FTC v Amway president.
Copycats are abound, many faux AdHitProfits pluck the strings of the greedy. Simple facts are exponential profits are not achieved by clicking 10 banners a day – coo-ee, hello, what school do the victims go to? Only recruiters void of morals earn in these money games yet the sheep line up, hand over their money and try to stamp out negative talk – guffaw!
Neobux members are becoming cult-like in their thinking. Earnings are slowing down. The excuse when earnings have hit the floor will be Neobux was never an investment scheme, but a great place to advertise other nefarious schemes – absolving the pimps in a legal sense.
The loop-hole exploited by AdHitProfits needs resolving by the powers that be, until then, take a look at the Neobux earnings disclaimer which predicts only 1% of members …
For more background on profit-share companies, please refer to our recent Jane Telef interview on My Advertising Pays, which we found to be much cleaner and less-ponzi than other profit share companies.