XL Results Foundation - Pyramid Scheme
Asia Pacific Community join forces to expose pyramid scheme.
How do I recognise a pyramid scheme: Ministry of Trade and Industry Website: www.mti.gov.sg defines a pyramid scheme as follows:
Many pyramid schemes often disguise themselves as sellers, collectors items, software, training programmes, etc. When all they are really interested in is to make a quick buck through recruitment. Members of the public who attend sales talks must be vigilant to such schemes. Illegitimate MLM schemes usually share the following characteristics:
When the promoter hype about how easy it is to earn money, people can get rich in a very short time and that the way to earn money is by recruiting others to join the scheme.
The so called product that you are supposed to sell is not something you would normally buy at its price.
Participants are required to invest money into the scheme whether in the form of a joining fee or buying inventory.
How do I lodge a complaint against a pyramid scheme. Refer to website www.cad.gov.sg
LETTER OF COMPLAINT
2nd July, 2007
The Commercial Affairs Department
391 New Bridge Road
#06-701 Police Cantonment Complex
RE: Pyramid Schemes - Scams/frauds Targeting Members of the Public
I wish to file a complaint against a Singapore Company XL Results Foundation Pte Ltd (Company registration: 200107729C).
I believe the Director, Mr Roger Hamilton is operating a pyramid scheme targeting members of the public.
The company's revenue source is from the recruitment of membership sales into its global business network ・XL Results Foundation Pte Ltd.
I refer to the CAD website www.cad.gov.sg - The Illegal Pyramid Selling Scheme: "pyramid selling scheme or arrangement" means any scheme or arrangement for the distribution or the purported distribution of a commodity whereby:
(a) a person may in any manner acquire a commodity or a right or a licence to acquire the commodity for sale, lease, licence or other distribution;
(b) that person receives any benefit, directly or indirectly, as a result of ・
(i) the recruitment, acquisition, action or performance of one or more additional participants in the scheme or arrangement; or
(ii) the sale, lease, licence or other distribution of the commodity by one or more additional participants in the scheme or arrangement; and
(c) any benefit is or may be received by any other person who promotes, or participates in, the scheme or arrangement (other than a person referred to in paragraph (a) or an additional participant referred to in paragraph (b)).
I am deeply concerned Roger Hamilton and XL Results Foundation Pte Ltd in Singapore is scamming members of our community and operating an illegal business.
XL Results Foundation is promoting itself as a charitable organization to deceive the community. This is a ploy to recruit new members into the scheme.
The company has faced a community petition in Asia Pacific with more than forty complaints lodged against the company in one day as reported by the Straits Times Newspaper. It is believed several hundred members have also demanded their membership payment refunded claiming they were duped. A copy of the original petition can be found on http://rogerhamiltonexposed.wordpress.com
To pay off these current disgruntled members Roger Hamilton expands into a new market (Ponzi scheme) and sells to newly duped members who are unaware of the petition and press scrutiny. The company has just announced plans to expand into Canada and Mexico.
In the past six months XL Results Foundation has been featured negatively in several newspapers including: The Straits Times - Singapore (23/10/06 & 25/11/06), The Today Newspaper - Singapore and The Courier Mail - Australia (24/02/07). Duped members of the Singapore community have also spoken out against the company on English and Chinese Radio Stations in Singapore including Radio 93.8. (To view these articles refer to website: http://rogerhamilton-consumerwatch.blogspot.com)
The most recent article appeared in the online edition of the Brisbane Times in Australia (May 30, 2007) under the caption "Suspect wealth creation network in Brisbane" refer to the link below for full details.
It is obvious this company is operating a scam.
I ask the officers of the Commercial Affairs Department to look into the business conduct of Roger Hamilton and XL Results Foundation and obtain detailed accounts to establish the revenue source of XL Results Foundation Pte Ltd.
The local and international community has a right to be protected from this individual and company.