The FTC has advised Vemma victims will soon be receiving settlement checks in the mail.
Vemma @ BehindMLM
According to a published “company profile”, VMA Life initially launched as Vemma Asia. Vemma Asia was founded in 2004 by Kenneth Koh in partnership with BK Boreyko from the United States. Under Kenneth’s careful guidance and leadership, the company has grown to become a regional powerhouse in the field of premium liquid nutrition in Asia [Continue reading…]
BK Boreyko is best known in the MLM industry for founding Vemma back in 2004. At its peak, Vemma was doing hundreds of millions of dollars in annual sales. In 2015 the FTC shut Vemma down for being a pyramid scheme. The case played out in court until December 2016, wherein Vemma reached a settlement [Continue reading…]
News of a potential settlement between the FTC and Vemma first surfaced back in September. The FTC were willing to take the case to trial but Vemma and defendants BK Boreyko and Tom Alkazin wanted to settle. Last month the FTC requested additional time to go over the proposed settlement, with a unanimous 3-0 decision [Continue reading…]
News of a potential settlement between Vemma and the FTC broke back in September. BK Boreyko has two options at this point. Continue to fund the legal battle against the FTC and eventually lose in court anyway, or settle now, lose but save some money. Both scenarios will see Boreyko cop monetary fines so he’s screwed [Continue reading…]
It’s increasingly looking like Vemma will not front court to prove they aren’t a pyramid scheme, as alleged by the FTC last year. On September 6th a joint motion to stay proceedings was filed, requesting 60 days for the FTC to consider the proposed settlement agreements.
Following the denial of a preliminary injunction motion a few weeks back, it appears Vemma didn’t have much left to bargain with. Over the past few weeks they’ve been negotiating with Hanover Insurance, with a settlement reached on or around August 17th.
Citing policy violations, Hanover Insurance Company refused to cover Vemma’s legal fees with respect to the FTC lawsuit filed against them. In response, Vemma filed for a preliminary injunction that would force Hanover to reimburse them for their defense expenses to date and, going forward, paying their expenses within ten days of receiving invoices until the applicable policy [Continue reading…]
The battle between the FTC and Tom Alkazin continues, with the latest filing from the FTC seeing Xango dragged into the feud. After the FTC shut down Vemma for being a pyramid scheme last year, Alkazin went on to join Xango. Commenting on a response filing by the FTC yesterday, BehindMLM pointed out incidental similarities [Continue reading…]
Following Tom Alkazin’s response to the preliminary injunction granted against him, the FTC have filed their reply. In it regulator alleges ‘many of the arguments Alkazin‘ filed in his response are redundant, based on the courts ‘finding that Alkazin participated in both the deceptive income claims and pyramid marketing‘. The FTC claim the granting of the [Continue reading…]