ACN under Fire in the USA?
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The Montana AG by filed pyramid charges against ACN Inc., a North Carolina-based multilevel-marketing company that bills itself “The World’s Largest Direct Seller of Telecommunication Services,” the state of Montana accused ACN of operating a pyramid scheme.
Monica J. Lindeen, Montana’s Commissioner of Securities and Insurance, has issued a cease-and-desist order against ACN and a Notice of Proposed Agency Action. “Pyramid schemes are immensely profitable to a few individuals at the top and a complete loss for almost everyone else,” Lindeen said. “The actions against ACN and its officers seek to shut down the company’s alleged unlawful operation before more people lose their hard-earned money.”
Investigators said the odds of making any money in ACN were overwhelmingly against participants.
“In 2008, ACN recruited 91 Montana participants who paid approximately $61,741.69 to be a part of the program,” Lindeen’s office said. “Only two of the participants made any money, with one participant making $696 and the other making $700.”
In the whole of 2009, according to investigators, Montana-based reps paid ACN nearly $239,000 to be a part of the program. The money came from more than 300 participants.
“ACN’s records indicate a mere $896.86 was paid out in compensation to these participants,” Lindeen’s office said.
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The culture that is built in ACN keeps the reps around even though they are not making any money. It amazes me that people will spend thousands of dollars a year to attend the “next national” in hopes that they hear the language they need so they can hit the millions. In actuallity, they do not make anywhere near enough money (if any) to offset the costs. MLM is a business. The problem is that most distributors do not operate it as a business. They run their distributorship on the hopes that “someday I will make it.”