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The Department of Fair Trade.
A Get Rich Quick Promoter, the subject of a nation wide consumer caution in the United Kingdom (www.rip-off-uk.com) and the USA (/link removed/ will be in Australia next week preying on the community. Mr Roger Hamilton, Chairman of XL Results Foundation pte ltd is on a whistle stop tour of Australia promoting and selling a USD$12,000 life membership into a purported social entrepreneur network.
XL Results Foundation (registered in the Republic of Singapore Company registration no: 200107729C) is alleged to be a convoluted pyramid scheme that baits consumers with promises of personal wealth and business opportunities but leaves consumers red faced and empty handed.
Mr Roger Hamilton based in Bali will be holding networking events as a platform to gain access to Australian consumers and hosting events on the Gold Coast 7th March 2008, Brisbane 11th March, Sydney 12th & 15th March, Melbourne 13th March and Perth 8th and 14th March 2008.
During his sales pitch, Mr Hamilton will fail to mention XL is mired in controversy with victims of the scam lodging complaints against the company world wide. Mr Hamilton and the Australian Promoter, Mr Paul Dunn, Results Net (http://www.resultsnetaustralia.com) operating out of Brisbane (Registered in New South Wales - BN [protected]) are the subject of allegations they are operating an elaborate pyramid scheme operating under the guise of a social enterprise.
A deceptive website (www.resultsfoundation.com) and smoke and mirror events have been created to give the illusion the company has a product to sell. The events are created by Mr Hamilton and offered free or heavily discounted to consumers. The sting comes afterwards when individuals are invited to a free 'extraordinary’ breakfast event where Mr Hamilton and his cohorts attempt to extract USD$12,000 from misinformed consumers.
In Singapore more than 100 members of the business community alleged they were cheated and duped by Mr Hamilton and money promised to charity was pocketed by Mr Hamilton. The parent company of XL, Competitive Edge pte ltd in Singapore is alleged to have sold consumers shares without a legal prospectus.
Members also claimed Mr Hamilton had lied and exaggerated regarding business connections and that the bulk of the network's contacts are poached from the free online platform linkedin. Members of the Asian business community allege XL is created with the specific intent to deceive and scam. As reported in the Straits Times Newspaper, 70 complaints were lodged against the company in one day. The rogue company has faced mass refunds, staff walkouts, resigned accountants and unpaid bills.
A former employee, an Australian whistle blower has been legally gagged by XL since 2005 and subjected to a malicious and long running defamation campaign including filing of false police reports against the individual in an attempt to threaten and subdue.
In public legal documents lodged in Singapore, the former employee has alleged ‘contributions promised to charity were not given and Mr Hamilton and XL is cause for concern.’ Both Mr Hamilton of XL and his Australian business partner Mr Dunn, ResultsNet Australia are in current litigation and attempting to block legal requests for full disclosure of the XL company accounts.
Allegations lodged against the company suggest it is a pyramid scheme with its revenue source derived from the recruitment of duped individuals into the scheme. Victims were induced with a commission to encourage further sign ups. The community allege the company is using public monies - life membership fees to pay its legal costs to protect the scam and is bleeding the community dry. In an attempt to deflect media and community questions, XL Results Foundation has issued an email spam warning on its website to deflect questions and issued false legal reports.
Mr Hamilton, his associate Mr Dunn have suggested the company is the victim of a slur campaign by a former employee, members of the community who were quoted in the press do not exist and that journalists from Fairfax Media and Singapore Press Holdings did not do due diligence before publishing negative articles on XL. This is text book behavior of a scam attempting to protect its interests.
The co-ordinator of the Asia Pacific petition lodged by more than 150 members against XL Results Foundation and mentioned in newspaper articles is Ms Ann Phua the head of a business women's organization in Singapore, email [protected]@rvmediaworld.com
For further information on the scheme refer to:
http://www.stuff.co.nz/4287069a6442.html
http://www.brisbanetimes.com.au/articles/2007/05/30/1180205312469.html
http://rogerhamilton-xl.blogspot.com/
http://rogerhamiltonexposed.wordpress.com/2006/09/11/letter-of-complaint-and-petition/
http://rogerhamilton-consumerwatch.blogspot.com/
Victims of a pyramid scheme are advised to contact the Department of Fair Trade or relevant authorities:
http://www.pyramidschemealert.org/
http://www.ftc.gov/speeches/other/dvimf16.shtm
http://www.scamwatch.gov.au
RETRACTION OF ALLEGATIONS AGAINST ROGER HAMILTON AND XL RESULTS FOUNDATION
XL Results Foundation are pleased to announce a positive outcome to the recent legal case related to various allegations against Roger Hamilton and XL. These claims are similar to those found on interrelated and inter-referencing blogs posted on /link removed/ complaintsboard.com, hotscams.com and businessesfromhell.com along with other blogs and anonymous emails sent to our members and partners over the last three years.
On March 24th 2008, Linda Ruck, the defendant in the legal case that XL brought regarding many negative and untrue claims against the company, signed a full written confirmation, retraction & undertaking by a consent court order in the Singapore Subordinate Courts.
The undertaking includes:
1. A confirmation that she has been involved in approaching via email, and/or otherwise including postings on internet forums, blogs, websites and other means, various parties including the media, consumer groups, our members and partners.
1. An unreserved retraction of her allegations against Roger Hamilton, XL, and XL stakeholders and an unconditional acceptance that these are untrue and/or inaccurate. The retracted allegations range from claims of illegal activities, no money going to charity, misappropriation of funds, criminal investigations, fraudulent conduct and a withdrawal of her claim on pyramid sales – which are similar to all the claims found on the various emails and blogs.
1. An undertaking not to conduct or continue with any ongoing campaign against Roger and XL (through herself, anonymously or otherwise) and not to spam, blog or communicate with XL Members, XL stakeholders or the media to make negative comments about XL.
1. An undertaking to cease harassing XL, its members, partners and associated parties.
XL is glad to put the legal conclusion of this chapter behind itself and to have received vindication against all the claims that have been made through the Singapore Court System. A copy of the Consent Order of Court and full Confirmation, Retraction & Undertaking can be viewed at http://xlresultsfoundationlegalfile.wordpress.com/
XL Board of Directors
For the latest on the growth of World Wide Wealth, visit
www.resultsfoundation.com
The posting by XL Results Foundation is classic text book behavior of a scam.
Scams protest their innocence, litigatious and mired in controversy. They spread lies, bully critics, attempt to suppress negative media and complaints and will go to extreme measures to mislead and confuse the community to keep the scam alive.
A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling people into the scheme.
The distinguishing feature of these schemes is the fact that the product being sold has little to no intrinsic value of its own or is sold at a price out of line with its fair market value. The costs for these "products" can range up into the hundreds or thousands of dollars.
Pyramid schemes create no wealth they only move existing wealth.
The key identifiers of a pyramid scheme include:
• A highly excited pressured sales pitch.
• A reassurance that it is not in fact a pyramid scheme, possibly with a false account of what a pyramid scheme is.
• Little to no information offered about the company unless an investor purchases the products and becomes a participant.
• No product, or a product being sold at a price ridiculously in excess of its real market value. As with the company, the product is vaguely described.
• An income stream that chiefly depends on the commissions earned by enrolling new members or the purchase by members of products for their own use rather than sales to customers who are not participants in the scheme.
• A tendency for only the early investors/joiners to make any real income.
• Assurances that it is perfectly legal to participate.
The FTC also warns that the practice of getting commissions from recruiting new members is outlawed as "pyramiding."[9].
The scale of harm is enormous, with millions of dollars stolen. Perpetrators use trickery, loopholes in laws and psychological manipulation.
The disguises, rationalizations and defenses have a similar ring. Perpetrators claim they are uplifting people, creating new opportunity, and teaching a new and better way to live and prosper.
As in all such abuses of the past, huge amounts of money are spread to peddle influence, stave off regulation, and maintain the false portrayal of legitimacy. Critics are vilified and threatened with lawsuits as "anti-business" and "losers."
The element of the pyramid scheme that has the most in common with past abuses is its appeal to economic justification. Deceptive practices which take money from millions of unwitting people and enrich a small group of promoters and perpetrators are defended as "legitimate business, " helping to build the economy, employ people, and provide economic opportunity.
As an increasing amount of people are scammed the company will come to the attention of the media and authorities.
The promoter cannot raise money fast enough to keep the scam alive and the scam will collapse. Pyramid schemes are illegal.
Victims of scams are advised to contact the Department of Fair Trade.
Consumer Update - Roger Hamilton & XL Results Foundation collapse
The XL Results Foundation Head Office in Singapore has closed down.
Address: 30 Robinson Road, #02-01, Robinson Towers, SINGAPORE 048546.
Victims of Ponzi Scheme operator Roger Hamilton and the XL Results Foundation scam are advised to contact the Consumer Affairs Department and/or Department of Fair Trade in their respective country.
XL Results Foundation Pte Ltd is owned by a holding company incorporated to a PO Box address in the Republic of Seychelles.
Company Secretary, MARGARET LOH CHUI MEI, 10 Anson Road, #21-07, International Plaza, SINGAPORE 079903.
Warnings against the Ponzi Scheme and cult, XL Results Foundation have been issued by bloggers, consumer associations in the UK, America and Australia and newspaper articles in Singapore, Australia and New Zealand.
http://blog.datamanagementsolutions.biz/2008/06/shonky-operator.html
http://www.bizop.ca/blog2/complaints-and-investigations/xl-results-foundation/
http://mingtiandi.com/?p=58
http://www.brilliant4biz.com/category/xl-results-foundation/
http://xlresultsfoundationscam.blogspot.com
http://www.businessesfromhell.com/topic.asp?TOPIC_ID=401
http://www.stuff.co.nz/4287069a6442.html
http://www.pyramidschemealert.org
http://www.brisbanetimes.com.au/articles/2007/05/30/1180205312469.html