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United First Financial: Sell them with deceit
I’ve been critical of the United First Financial Money Merge Account for a few months now. My critique is simple: The program is not worth $3,500. It’s worth less than $100. All the MMA does is direct you to use all available cash each month to pay down more of your mortgage. You can do [...]
Continue reading...Vendor talks, Usana squawks
03 Sep 2008
Usana Health Sciences (NASDAQ:USNA) had their convention last week, and as predicted, the new “energy drink” REV3 was a big hit! Those fully indoctrinated into the “cult” of Usana believe it is the greatest thing ever! But not everyone at the convention was in the Usana fog. At least one service provider there saw right through [...]
Continue reading...Need ShopToEarn contract information
01 Sep 2008
If you’ve signed up for ShopToEarn and have a contract from the company, I need your help! I am looking for the contract, any training materials produced by the company or your upline, and any communications from ShopToEarn that outline the rules and regulations of doing business with them. Please email them to me at [...]
Continue reading...United First Financial’s new math (It’s still not worth $3,500.)
30 Aug 2008
Guest post by Craig Hansen The fine folks at United First Financial (UFF) have come out with a new version of their Money Merge Account (MMA). It’s version 4, and it’s marketed as something that uses… factorial math! And promoters are saying the software does over 3 million calculations each time you use it to analyze [...]
Continue reading...Len Clements: Usana distributor with “seasoned” associate number
27 Aug 2008
Well, well, well. Leonard Clements, defender of Usana to his death, former “executive” of multi-level marketing company Zenza, failed business owner… is now a Usana distributor. But he’s not just any distributor. No, any distributor number would not do for Len. He’s got the number 47278, which is an old, old number. (We’re talking 15 [...]
Continue reading...United First Financial scam: You’re using the bank’s money to pay down your mortgage
27 Aug 2008
Banking 101 - If you’re “using the bank’s money” it means you’ve borrowed it from the bank and you’re going to pay interest to “use” it. You don’t get to use it for free. The United First Financial Money Merge Account supposedly uses “the bank’s money” to help you pay off your mortgage faster. After paying [...]
Continue reading...Ufirst Money Merge Account: Resistance is futile
26 Aug 2008
One of the most common forms of “training” offered to members of multi-level marketing companies (also known as direct sales, pyramid schemes, dual marketing, networking marketing, etc) is Overcoming Objections. Why is that such a key? Because all of the ones that I’ve seen have overpriced, underperforming products, and consumers are usually pretty quick to [...]
Continue reading...Failure rates in YTB and other MLMs
24 Aug 2008
Noted MLM expert Robert FitzPatrick did a recent blog post on the YourTravelBiz.com lawsuit filed by the California Attorney General. He has a nice analysis of how and why YTB is nothing more than a pyramid. These multi-level marketing companies are almost always the same, they each just have a different “hook.” In this case, [...]
Continue reading...What does another expert say about mortgage acceleration programs like United First Financial?
23 Aug 2008
Don’t just take it from me and from Dave Ramsey. We think the mortgage accelerator program sold by United First Financial for $3,500 is a waste of money. We’re pretty smart, but are there other smart people who agree with us? YES! Jack M. Guttentag is Professor of Finance Emeritus and former Jacob Safra Professor [...]
Continue reading...Usana’s new REV3 Energy Drink
21 Aug 2008
Back in April I told you that Usana Health Sciences (NASDAQ:USNA) would be rolling out a new “energy drink” at their annual convention: The new product is an energy drink. Apparently, studies by Usana show that you could get a bigger kick from a cup of coffee, but they are counting on the cult mentality to [...]
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- Mary Kay Cosmetics: Destroying half a million women a year
- Primerica Financial Services a scam?
- The Pyramid Scheme aspect of Primerica Financial Services
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- The Sarah Palin pregnancy cover-up that wasn't (updated)
- A new pyramid scheme: United First Financial
- What does Dave Ramsey think about United First Financial
- Tracy Coenen: Jiminy - The facts as you’ve laid them out do seem to...
- Jiminy Cricket!: Tracy, If I did some work for an MLM company, say defending...
- Tracy Coenen: Yes, God love me!
I am happy to receive documents on behalf... - Joe Sloboda: Niles - that is absolutely correct - when ever a memebr logs in...
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About the Author
Tracy Coenen is a forensic accountant and fraud examiner who investigates white collar crimes, including cases of financial statement fraud, embezzlement, tax fraud, and insurance fraud. She is the author of Essentials of Corporate Fraud and more than 100 articles on fraud featured in industry publications.
05 Sep 2008
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