A few recent news items from the MLM Watchdog include a report that Joe Nacchio, the ex-CEO and owner of the fifth largest phone company in the United States has been sentenced to six years in federal prison.
A few recent news items from the MLM Watchdog include a report that Joe Nacchio, the ex-CEO and owner of the fifth largest phone company in the United States has been sentenced to six years in federal prison. MLM Watchdog Editor Rod Cook said Qwest stole customers from multi-level marketing (MLM) distributors in the MLM company NCN. Qwest was NCN’s supplier so Nacchio just switched the customers over to Qwest. He also stole customers from ACN, Cook claimed. Finally, Cook said, Nacchio stole $35 million from stockholders.
Cook also issued a report of bribery and pyramid charges filed in Korea. The JU Group in South Korea has set a world record for pyramiding, he noted, at $4.4 billion. Federal regulators in South Korea indicted 27 people, including politicians and a newspaper publisher, on charges of taking bribes from South Korea’s largest MLM company – JU Group.
