SC of Malaysia is cracking down by blocking websites:
Below is the list of known companies and websites which are not authorised nor approved under the securities laws to deal in securities, provide investment advice and/or fund management services related to securities or futures.
The public is advised not to make any investment with companies that are not licensed or approved by the SC. Offers often comes in the guise of seemingly attractive investment opportunities or schemes and may also be camoflaged as direct selling or business opportunities. Read the rest of this entry »
Usana Health Sciences Inc. is now under investigation after a report by Barry Minkow founder of Frauddiscovery.net (Minkow was instrumental in the SEC’s Investigation into 12DailyPro last year.) Minkow issued a 500 page report spanning 3 years of investigation. You can see the full report here.
In the report Minkow shows that “no less than 85% of current distributors are losing money and no less than 74% of distributors fail within the first year. Yet these distributors account for 86% of the company’s multi-level marketing revenue.”
Usana Health Sciences Inc. has filed a lawsuit in federal court in an attempt to discredit Minkow’s report dated February 20th, 2007. Minkow has filed a response to Usana’s lawsuit.
Minkow points out an email sent to him by a Usana Distributor:
The bottom 95.6% of all active and ranked distributors receiving
commissions are receiving next to nothing. This certainly doesn’t equate to the “True
Health, True Wealth” promoted by Usana and its recruiters and these figures do not
include expenses or the monthly product purchases necessary to receive
commissions.
Minkow went a step further as to test the vitamin supplements being peddled by Usana Health Sciences Inc. at an independent Lab. You can see the Lab Results here that Usanas Label claims are not meet on almost 25% of the claims!
Now Minkow goes out and does a Comparison at Health food Store on comparable vitamins to Usana’s Vitamin supplements, watch the Video! It will shock you.
