Is Vemma a pyramid scheme?
Vemma billed itself the “Young People Revolution,” marketing mostly to college students as a way to get easy money. Then the Federal Trade Commission filed a lawsuit, calling the nutrition company an illegal pyramid scheme.
Does Vemma exist?
But in August 2015, Vemma was shut down by the Federal Trade Commission as an alleged pyramid scheme and its assets were frozen. The FTC noted that the vast majority of participants made no money and most lost money. Vemma still takes sales orders on its website.
Who started Vemma?
Benson K. Boreyko
Lauren BoreykoKaren Boreyko
Vemma/Founders
How does vemma work?
Vemma, founded by Benson ‘BK’ Boreyko in 2004, sells energy and weigh loss drinks through a network of independent distributors, so-called ‘affiliates’, with the promise they can earn income buying product direct from the company and selling them to customers.
Is the Vemma Nutrition Company a pyramid scheme?
Is Vemma a Pyramid Scheme? Vemma is a privately-owned multi-level marketing company that promotes nutritional supplements, energy drinks and a business opportunity. The United States Federal Trade Commission sued Vemma in 2015 for predatory practices, including deceptive income and health claims and for operating a pyramid scheme.
Who is the founder of the company Vemma?
Vemma is an Multi-Level-Marketing company that was founded by Benson Boreyko in 2004. Vemma is an acronym for Vitamins, Essentials, Minerals, Mangosteen, and Aloe, which are the main ingredients of their products. The company has undergone a series of ups and downs, but they’re still operating in more than 50 countries.
When was Vemma Nutrition Company shut down by the FTC?
Vemma (/ˈviːmə/) Nutrition Company was a privately held multi-level marketing company that sells dietary supplements. The company was shut down in 2015 by the FTC for engaging in deceptive practices and pyramid scheming.
How many complaints has the FTC received about Vemma?
As of July 2014, the Federal Trade Commission (FTC) received 170 complaints about Vemma and some colleges have issued warnings to their students about the company. William Keep, the dean of business at The College of New Jersey and an expert in pyramid schemes has said that the company shows indicators of being a pyramid scheme.
