WorldVentures’ revenue “decimated”, CEO resigns
Legal correspondence between attorneys alleges WorldVentures’ revenue has been “decimated”.
The leaked email correspondence pertains to a Texas District court case, which WorldVentures is defending.
The April 6th dated email reads as follows:
As you are aware, we are now amid a global pandemic arising from the outbreak of … the disease COVID-19.
Dallas County, Collin County, and the City of McKinney all issued stay-at-home orders that require their residents to shelter in place through the month of April to prevent the spread of COVID-19.
Travel is shut down for the foreseeable future.
The fallout has decimated WorldVentures’ revenue.
My understanding is that the company laid off most of its staff and has not paid its leaders since December 2019.
Our source claims the email was sent between the attorneys of two WorldVentures distributors, who are plaintiffs suing WorldVentures for unpaid commissions.
What we do know is the case was filed in Collin County. A search of public records reveals two possible candidates.
Christ Kent, Jake Kevorkian and Scott Ross vs. WorldVentures Marketing, LLC was filed on January 11th, 2019.
Arbitration was ordered last May and at the time of publication the case outcome remains pending.
The other possibility is XAS Travel & Trading LTD v. WorldVentures Marketing, LLC and WorldVentures Holdings, LLC.
The email does cite “et al.” after WorldVentures Marketing LLC, so unless it’s a clerical error (the first lawsuit was filed against one defendant), this is likely the case in question.
XAS Travel & Training LTD v. WorldVentures Marketing, LLC et. al. was filed on November 5th, 2019.
XAS filed a Motion for Summary Judgment on April 13th (earlier today).
This fits with the last paragraph of the leaked April 6th email, which suggests the attorneys were discussing a plan of action:
Putting aside the hotly disputed liability issues of this case, due to the changing circumstances, the current and future investment of money and time into this lawsuit, we believe…
We’ve asked our source for clarification but as of yet haven’t heard back.
In any event, I think it’s important to put into context the collapse of the travel industry with WorldVentures revenue woes.
WorldVentures since inception has always been about selling memberships, i.e. it’s a pyramid scheme. WorldVentures’ original business model didn’t pay on travel. Travel commissions were only added a few years back as pseudo-compliance.
A 2013-2014 regulatory investigation in Norway revealed 95% of WorldVentures’ revenue was derived from affiliate membership fees.
BehindMLM last reviewed WorldVentures in September 2019. We found affiliate membership revenue still likely to be WorldVentures’ largest source of revenue.
Within this context, it’s important to make a differentiation of how the travel industry’s collapse has affected WorldVentures.
WorldVentures’ revenue hasn’t allegedly collapsed because nobody is booking travel. It’s collapsed because the travel marketing narrative isn’t remotely believable in the current climate.
You can’t pitch a pyramid scheme hiding behind travel services if the travel industry doesn’t exist. Simple as that.
Our source also made the claim that WorldVentures’ CEO Josh Paine resigned.
I was able to verify this via Paine’s LinkedIn account:
A CEO bailing amid a revenue crisis isn’t particularly confidence inspiring.
Update 23rd December 2020 – WorldVentures filed for Chapter 11 bankruptcy on December 22nd, 2020.
Imagine IMD’s not getting commissions in December, but all the C-levels and VP’s were getting their bonuses 😀
It is sad that vendors are not paid, commissions are not paid but bonuses and expense reports with lavish spending are reimbursed. Some things never change.
Also WorldVentures/Rovia was on the brink of failure again BEFORE Covid 19. The virus helped sweep the real problems under the carpet again.
Rest assured, there are plenty of more lawsuits going on with former top leaders such as Johnny Wimbrey, Wes Melcher, and more.
Wayne will use the pandemic as justification for laying off employees and not paying reps, and any other problem in this titanic of a company.
Josh Paine is a good man. He did his best and I’m sure Wayne will screw him over too.
The FTC has come knocking several times already but since the company continues to pay most Americans they receive grace, even though most international reps haven’t been paid in nearly 2 months now.
Sad to see the top ‘leaders’ continue to promote this scheme. Some of them even said Josh Paine was sent from God now what will be their excuse? Pathetic!!
I was with WV in 2017. They owe me almost 12,000 and still have not paid.
They are still lying to the field. They are lying to everyone. I cant believe this company is still open for business.
These are end times for WorldVentures, with bankruptcy in the near future.
You all say Josh was a good guy? hahaha. He was a constant liar to the field and employees, and a baby like terror in the office.
The best thing from the layoffs was his squeeze Sophia being unceremoniously let go in the gigantic layoff.
You would think after YTB Travel, nobody could possibly fall victim to another “travel” MLM? WV’s Income Disclosure Statement tells you all you need to know. The FTC needs to give them the Vemma treatment.
I went to the Mega Rockstar Trip in Croatia in 2019 because I won a Contest and it had to be free. They said “pay it first and then we will refound you”. I’m still waiting for these money back.
All the people in customer care are always lying to me telling me that “they are working on it” or “we don’t have the list”. Bah…
WorldVentures awarded you a trip, made you pay for it and then stiffed you?
Geez…
Rovia President Jim Menge has resigned and VP as well. Most of the top execs are bailing or have already.
I worked in the fraud and data analyst department for the company. They have laid off 80% of Rovia and I dont know a percentage of the WV side but i was told that they have laid off quite a few people.
I personally know things that could get a lot of higher ups thrown in jail. but ill let action take its course.
Ha ha ha.
Awesome.
Perhaps they should not steal people’s businesses, and perhaps things like this would not happen.
Probably good that Josh is out, as he was the worst CEO I have ever met.
-Dave
David Wood
Worse than that crackpot scammer from the Empower Network?
Josh must be truly AWFUL.
-Brian
Does anyone know David Lewis with this company? He apparently made a lot of money in World Ventures and is buying a $20m property.
In the State of Texas they can’t take your home from you if you declare bankruptcy.
The word is WV is finally and officially filing bankruptcy on Monday and merging with Secret.
Can you tell us what is the Secret just so we got an idea who is buying them ?
“WV Exodus” probably meant “Seacret,” an MLM company that sells stuff with Dead Sea minerals mixed in, purportedly.
That’d be my guess. Not aware of any other similar sounding MLM companies.
Haven’t heard anything about this on my end so can’t verify at this stage.
All I can say is I’m glad I got out before I put a whole lot of money into this company!
I was only in it for a few short months. It was overwhelming.
I heard World Ventures was sold. Who are the new owners!
Seacret Direct – https://behindmlm.com/companies/world-ventures/worldventures-confirms-seacret-direct-acquisition/
Empower Network had a fantastic CEO. The model was fundamentally flawed, however.
They survived far more difficult things than World Ventures ever went through. Let’s see how the transition goes.
I am surprise that they have lasted this long. What will happen now?
The people have lost wages and never get paid and the WV will move on to make money elsewhere under a new name? And that’s it?
WorldVentures was sold off to Seacret Direct – https://behindmlm.com/companies/world-ventures/worldventures-confirms-seacret-direct-acquisition/
I was with Wv for 7 years. I never really sold memberships even though I was a rep. I joined just for the travel. I always had a great trip and got exactly what I expected.
I heard rumors of several different challenges within the company starting back in 2017. Never sure what was true as anything can be put on this internet just like some of these comments here.
Everyone’s perception is very different based on their experience. As for the guy who worked for the company for “a few months and bailed”, how in the world can you expect to have any kind of knowledge after only a few months?
I do believe something is definitely amiss and there are lies for sure being told within the company and it was way before covid and the pandemic. So don’t mistake me for backing the company.
I left the company because too many things just weren’t adding up.
I will say the company Seacret was poised to buy them but last court documents I read regarding WV, just a month ago, Seacret had backed out.
I’m not a part of that company either. I do know the majority of top execs and reps from WV went over to Seacret but did have to start all over as new reps.
I know a lot of them. People in mlm leave and join new companies all the time, it’s not new.
As for Josh Payne leaving, again court docs seem to list a lot of people as being fired or laid off. I believe he was one of them.
I’m guessing his LinkedIn is trying to save face. But then again, I only read court documents.
Yeah I know, kinda weird to sit and read that stuff. It’s boring and dry and long but I wanted to read the truth in black and white for myself instead of all this “he said, she said” stuff on the internet.
And I don’t buy the hype that mlm’s are pyramids schemes. That’s been said about every single mlm out there. Some people don’t make money and get pissed off so they label it a pyramid scheme or scam.
It’s called net”work” marketing for a reason, you gotta put in work. Most people I know who have had bad experiences didn’t put in work. And that goes for at least 20 different companies that I personally know people in.
It’s not easy and not for the faint of heart for sure and it’s not for everyone. (Ozedit: derail removed)
WorldVentures was a pyramid scheme. They confirmed it when they provided Norway with their sales figures (95% of members were affiliates, tying commissions earned to recruitment).
https://behindmlm.com/companies/world-ventures/worldventures-lose-ministry-of-culture-appeal-still-a-pyramid-scheme/
That has nothing to do with “work”, “bad experiences” or the usual scam apologist cliches.
It is World Ventures fault for not getting Jesus Christ as their CEO like Empower Network. WV had no problems like Empower had.
Nobody was secretly blowing crack hits into the AC system at the World Ventures corporate offices, or drugging management on rented yachts.
World Ventures were just horrible people from other MLM’s. Just think of all the victims that could have had a garage full of diet shakes, face creams or silver, but instead they have nothing to show from World Ventures.
No one likes complaining and being asked if they even watched the video. No one likes being told they are lazy, no contacting enough people or using the wrong pitch.
No one likes being blown off after they were cheated and then told it is their fault. MLM is good because it gives instant karma to those who deserve it most.
Look at World Ventures, Empower Network, Numis, Zeek Rewards, etc. etc. In each case chock full of narcissist losers getting what they had coming. Haha.
What a foolish, stupid bunch of losers. You’ll never be anything and people laugh at you and hate you.
Be honest. People hate you and are laughing at what a failure you are.
My son worked his ass off for WV, selling, getting members and had no idea what a sham co. this was/is. He took one/working trip.
Was still paying dues when he got paper that said they were filing bankruptcy.
It said to file proof of claim, who knew how to do that crap, can’t afford a lawyer so he lost thousands of dollars.
Anyone saying ANYTHING good about this co. can kiss my ass!
Anyone feeling sorry for any Reps. or anyone else that didn’t get paid truly forgot about about the little guys who got really screwed in this rotten co. that is still making $$ at everyone else’s expense.