Friday, 22 June 2012

The Voice - Consumer's Voice

Dear Consumer’s Voice #1

There is a new product pyramid scheme in the name of QNet. There are operating from Palapye and have recruited certain church members to start the disturbing business. Please have a look into it and warn our public before they lose their hard earned cash on useless products.

Thanks for the warning. We’ve reported on Qnet before when it called itself Questnet. In particular we reported on a product they sell, called the BioDisc, a piece of glass that they claim has magical properties. They claim that it can “redefine and harmonise the energy of water, greatly maximising its positive affect on the human body” and that it “makes water more hydratious, which therefore improves the compatibility of water molecules with the body’s cells”. This is, of course, utter pseudoscience. They use scientific-sounding words like luminescence, photons and biocompatibility but none of what they claim makes even the slightest sense. The claims they make about this and their other products are just ridiculous and untrue. And therefore illegal.

What’s worse is that as well as selling silly products like the BioDisc, they now run a their business as a pyramid scheme. They call it a network marketing scheme but that just a cover story for a pyramid scheme. It’s not just me saying that, the company in it’s various forms has been described as either a pyramid or Ponzi scheme by the South Australian Office of Consumer and Business Affairs and the governments of Afghanistan, Rwanda, Turkey, Sudan, Syria, Iran, Sri Lanka, India, Nepal, Canada and the USA so I’m not alone.

Like all pyramid schemes anyone tempted to join will end up losing money. Even it was a genuine MLM business, you’re not going to make any money either. Even the biggest MLM businesses like Amway and Herbalife concede that the vast majority of people who enter the scheme make no profit at all.

Again, thanks for the warning, please help to spread the word that pyramid schemes are a danger and a public nuisance.

Fake university update

We’ve reported several times about fake universities like Headway “University”, a non-accredited, online “university” that sells degrees for money. No exams, tests or coursework, just a fake degree for money. Anyone can tell from their web site that this is suspicious.

We received an email recently from a “law firm” that claims to be acting on behalf of Headway “university” demanding that we retract what we’ve said about them. Curiously, the law firm doesn’t seem actually to exist. Their web site has been copied from the sites of other, genuine law firms and they appear not to have any real lawyers working for them. So a fake law firm sends us a fake threat on behalf of a fake university?

They can fake off.

Ponzi scheme update

A couple of weeks ago I reported on a “High Yield Investment Plan” calling itself Royalty7. I suggested that this was yet another Ponzi scheme pretending to be a investment business. They claim they “are averaging between 56% to 67% net profit monthly which is around 1.86% to 2.23% interest per day, generated across all our ventures, online and offline.”

No genuine investment scheme can actually achieve this sort of return. If it was possible don’t you think that banks would be doing this? But anyway, how do they claim to earn such enormous profits? They refuse to say which is even MORE suspicious. This is what they say:
“Specific details of our assets location, shares we own, our trading procedure, and business references are classified due to the private nature of our agreements with all parties involved.”
I’ve since been told that the Financial Supervision Commission in the Isle of Man has said that they:
“strongly urge persons considering dealing with this potentially fraudulent entity to exercise the greatest possible caution before proceeding”.
Also the Financial Services Authority in the UK has warned the British public against investing with them. You’ve been warned!

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