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Office of the Attorney General

Source: attorneygeneral.state.wy.us
Topic: Multilevel Marketing

Sort Desciption: Investigation of Multilevel Marketing Co. by Secretary of State. and Attorney General Recovers $81500 for Wyoming Residents ...

Content Inside: Office of the Attorney General Press Release Attorney General Consumer Protection Unit Chief Deputy Attorney General Hoke MacMillan 123 Capitol Building Vicci Colgan Cheyenne Wyoming 82002 307-777-7874/800-438-5799Telephone Deputy Attorney General 307-777-7956 Fax Rowena Heckert Contact: Christopher Petrie (307) 777-5838 RELEASED JOINTLY with the Actuality: (307) 777-5135 Wyoming Secretary of States Office For Immediate Release - February 21 2002 Investigation of Multilevel Marketing Co. by Secretary of State and Attorney General Recovers $81500 for Wyoming Residents (Cheyenne) Secretary of State Joe Meyer and Attorney General Hoke MacMillan announced today that a joint investigation by their offices resulted in the recovery of over $81500 from World Marketing Direct Selling Inc. a Massachusetts-based multilevel marketing company also known as WMDS. The money has been returned to two Fremont County residents. The Secretary of States Office learned that the two residents had invested approximately $120000 in a multilevel distribution or network marketing company that sells vitamins and supplements. The two residents reported that the company had returned a fraction of the money to them in payments characterized as bonuses although they had not sold any vitamins or supplements. Initial review of the report by an examiner with the Securities Division of the Secretary of States Office indicated possible violations of state statutes regulating securities and violations of Wyomings Multilevel and Pyramid Distributorship Act. The Securities Division requested that the Wyoming Attorney Generals Office participate in the investigation. The investigation resulted in WMDS signing an Assurance of Voluntary Compliance (AVC) requiring the company to refund a total of $81596.72 to the two Wyoming residents. The AVC also requires the company to comply with all State laws and to pay the State $2000 as reimbursement for the cost of the investigation and $500 in lieu of ci ...

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