Will Achieve Community address regulatory investigation?
Despite the rosy image of thanks and gratitude carefully crafted on the Achieve Community forums, there is evidently a growing undercurrent of discontent.
Despite claiming Achieve Community would never accept deposits without a mechanism in place to pay out commissions, Achieve Community went ahead and did just that when they signed with iPayDNA.
For reasons that have never been clarified, Achieve Community was unable to pay commissions with iPayDNA despite accepting investment funds through them.
Part of the reason might have been the complex money laundering network Achieve Community attached itself through the payment processor.
It wasn’t long after iPayDNA was announced that Achieve investors began reporting bogus companies appearing on credit statement, strongly suggesting credit card factoring.
This naturally prompted a flood of refund requests, which now has apparently seen iPayDNA reach its refund limits.
For more information, we turn to Achieve Community investor Mike Whittaker:
Let me tell you about the kind of merchant Achieve is using.
Jan 4 I requested a refund from Achieve which was approved by Kristi.
Jan 5 I sent an e-mail to ipaydna as recommended by Kristi.
Jan 20 ipaydna still had not responded so I sent a follow-up e-mail. ipaydna sent an e-mail to Kristi to adjust the books. They info’d me.
Feb 6 I sent another follow-up. ipaydna informed me they had exceeded some kind of refund limit and had the gall to ask me to take $1,200 voucher good in 70,000 restaurants.
With Achieve Community allegedly not having paid out investors since Payoneer terminated their processor account in early November 2014, why iPayDNA are unable to refund money deposited through them is unclear.
Where did the money go?
One possible answer lies in information provided to BehindMLM from sources close to Barnes.
They claim that since Payoneer terminated Achieve’s account, that Barnes has been “withdrawing money” daily. Barnes claims he could only withdraw so much a day.”
Additional alleged spending of invested Achieve Community affiliate money includes:
- $20,000 forwarded by wire towards the purchase of a Hummer (truck), with the car never delivered (the seller ran with the money)
- the purchasing of “brand new furniture” for Barnes’ home
- the purchasing of two go-karts and a St. Bernard dog for his son
- $25,000 recently paid as a retainer for a lawyer
The last claim is of particular significance, as it’s also been claimed that both Troy Barnes and Kristi Johnson have been contacted by regulators in Michigan.
This is in addition to the confirmed regulatory investigation taking place in Colorado.
I myself have reached out to the Michigan Attorney General’s Office for confirmation, but have yet to receive a reply.
In addition to arming himself with legal representation, Barnes also appears to be readying up to leave the US.
Troy is working on getting passports so he can set up a bank and processor overseas. (He said) he might be gone for awhile.
Barnes’ fiance/girlfriend is also supposed to arrive from overseas sometime next month:
Caroline Donahue is supposed to arrived in the USA in March. Caroline is his girlfriend and/or fiancé.
Caroline Donahue also visited Michigan some time late last year. Troy took her all around Michigan.
How long Donahue plans to stay in the US and/or whether Barnes’ intends to leave the US with her after her visit is unclear.
Troy Barnes’ partner, Kristi Johnson, has been suspiciously absent from social media since January 31st. Whether or not she has been spending invested Achieve Community funds is also unclear.
What we do know though is that the current state of Achieve Community doesn’t really add up.
If the owners are lawyering up and preparing to flee the US in anticipation of regulatory action taken against them, why is none of this being communicated to their investors?
Instead, Troy Barnes is busy feeding updates about never-ending delays in signing up a new withdrawal processor.
Barnes claimed a video was supposed to be released Monday night (US time), which instructed Achieve investors on how to sign up with a new payment processor.
An update published on Monday night instead informed investors that there would be more delays.