The FTC has issued at least 379 MLM companies with deceptive and/or unfair conduct notices. This was announced by the FTC on October 26th. If it slipped under your radar, you’re not alone. I learned of the FTC’s announcement via a tip sent in by a reader. At first I thought there was some funny [Continue reading…]
Nu Skin @ BehindMLM
BBC journalist Ellie Flynn has gone undercover as part of an investigation into Younique and Nu Skin. Flynn’s documentary, titled “Secrets of the Multi-Level Millionaires”, examines the success of both companies in the UK. In doing so, it is inadvertently revealed that retail sales appear to be virtually non-existent.
It’s an open secret that MLM nutritional supplements are marketed throughout Asia using all sorts of spectacular (and completely unfounded) health claims. For the most part regulators aren’t interested and so long as money flows in, MLM companies themselves turn a blind eye. It is in this regulatory environment and company culture that a woman [Continue reading…]
A proposed $47 million dollar settlement in a pyramid scheme lawsuit, filed by disgruntled Nu Skin shareholders, has been approved. Rather than fight the pyramid scheme allegations in court, Nu Skin will pay the shareholders $47 million dollars. Judge Parrish also awarded shareholders $13.6 million dollars in legal fees.
Back in late 2014 news broke that Nu Skin was under SEC investigation. At the time CEO Truman Hunt claimed he wasn’t aware of an investigation. By mid 2015 Nu Skin acknowledged the SEC investigation existed, having purportedly only become aware of it in April. Before we get into today’s settlement announcement, a recap of what [Continue reading…]
A lawsuit filed by Nu Skin shareholders against the company appears to be drawing to a conclusion. The class-action lawsuit was filed in February 2014, accusing Nu Skin of misleading investors about the legality of its operations in China. Chinese media reported suspicions Nu Skin was operating a pyramid scheme in January 2014. A subsequent investigation [Continue reading…]
A search for “body spa” on the Nu Skin website brings up a result for an “ageLOC Galvanic Body Spa” device. On their website, Nu Skin claim the device minimizes and smooth the appearance of body fat and cellulite for a slimmer looking body provides the body with a smooth, contoured appearance improves appearance of [Continue reading…]
Back in November 2014 it was revealed, through a Freedom of Information request, that Nu Skin was under SEC investigation. Nu Skin have since failed to address the investigation, or even acknowledge its existence… until now.
Early last year saw Chinese regulators move in on Nu Skin. Suspecting it of conducting pyramid scheme operations in China, the company’s affiliates were also running amok and making all sorts of false claims to bring in new recruits. Long story short? Nu Skin suspended its Chinese business operations pending a formal review and, along [Continue reading…]
Details on this one are currently sketchy. Last year in September, Probes Reporter contacted the SEC regarding possible “investigative activity” and were advised there was none. In what appears to be an annual check, Probes Report contacted the SEC again recently and the agency acknowledged ‘some sort of investigative activity‘ was taking place. Probes Reporter [Continue reading…]