Eaconomy Not paying Commissions, Terminating Leaders? A Review
Eaconomy launched in 2019, with 3 forex bots, Traide Ringer, Traide Runner and Traide Compass. The company is based in the USA, Las Vegas. In November 2019 both Hassan Mahmoud as his now ex-wife Candace Ross-Mahmoud were sued by the CFTC for their role in MLM company Silver Star:
“The U.S. Commodity Futures Trading Commission today issued an order filing and settling charges against Silver Star FX, LLC d/b/a Silver Star Live (SSL) of New Mexico and Silver Star Live Software LLC (SSLS) of Florida, and two officers of those firms, Candace Ross-Mahmoud and Hassan Mahmoud of California (collectively, respondents).
In its order, the CFTC found that SSL and SSLS acted as unregistered commodity trading advisors and that Ross-Mahmoud and Mahmoud acted as unregistered associated persons of both SSL and SSLS.
The order requires the respondents, who are jointly and severally liable, to pay a $75,000 civil monetary penalty and to cease and desist from future violations of the Commodity Exchange Act.”
In 2019 Eaconomy required affiliates to maintain a 55% retail ratio in some recruitment legs to qualify for commissions, which would be “pay-to-play.” The company collapsed later, or was taken out of business by its owners.
Eaconomy relaunched in 2021 with several trading (crypto) services, “Artificial Intelligence” based. The compensation plan Eaconomy uses is a binary compensation plan with a uni-level combination.
Eaconomy website does not disclose the management on their website www.eaconomy.webflow.io however Hassan Mahmoud, is Co-founder and CEO, his brothers are in management roles, as was his ex-wife Candace Ross.
A number of allegations and comments Business For Home received:
Top Earner Jose Ardon was terminated and was not paid.
Advisor Sashin Govender was not paid for his services, he stated: Hassan hired TMS marketing for reputation management, and have not paid.
A leader (name removed on request) stated:
” I was part of EA from November 2022 to November 2023. Alisha and Suhail have 1 leg deals and have faked their whole rank, their “leader” Sunny Singh has also done the same, faked his rank too and also done the same for his downline to show off on social media.
And the cherry on top of this whole thing, Hassan first moved people from my downline and then later terminated my account without any warning or paying me my paycheques.”
An other Top Leader (name removed on request) stated:
“I was a member in Eaconomy for 7 months approximately last year. It was the worst experience ever for me in the MLM industry, I got my account suspended with my commissions blocked.”
Top Earner Ali Saleh stated he joined Eaconomy in November 2021. After Eaconomy relaunched in 2021, according to Saleh:
“According to co-founders Candace Ross and Michael Talento, Hassan Mahmoud improperly funnelled money from ghost affiliate accounts to himself, and/or transferred money from Eaconomy bank accounts to his family members.”
Today, April 8, 2024 Ali Saleh published below video:
Eaconomy Vice President of Business Development Jarrod Wilkins made below statement:
“EAconomy is doing great as a Company. We are growing, paying and expanding Globally. I’ve been working with the Company since September 2023 as the Vice President of Business Development and there’s been several challenges we’ve over come just like any other Company.
There’s not been one thing the Founder Hassan has told me that he hasn’t delivered on after he’s said it. If you have specific questions about anything or anyone you want me or Hassan to address that can be published publicly please let me know.
My name and the reputation of EAconomy is the number one priority for me. We are current on all commission payouts to our affiliates and have not missed a payment since I’ve been working with the Company.”
Ex-wife Candace Ross reached out to Business For Home after we published this review and stated:
“I left Eaconomy a year ago because my vision no longer aligned with my partners and other executives.
I was in fact sued by the CFTC, although there is much more to that story that has never been talked about. I am no longer working for or involved with the company at any corporate level.
I have no affiliation with Eaconomy. I have no ability to provide my opinion and I have no decision making power regarding the company. I am no longer married to Hassan Mahmoud. I left this company a year ago and I wish the affiliates and staff nothing but success. I have nothing to do with its failures or with its accomplishments moving forward.”
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Get more information, facts and figures about Eaconomy, click here for the Eaconomy overview.
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I am Fernanda Vera from Houston Texas, I joined Eaconomy in May 2023, and in October and November 2023 the movement of entire groups of people began, from our leg of power. We reported it to Hassam, because my husband Luis Ventura has more than 20 years of experience in the industry and documents the entire structure day by day, hour by hour. We have evidence of how Ana Franco’s group (who was in one of our legs (600 people) disappeared in November and appeared in Julio Lama’s internal line. Not only did they not pay us the commissions, but they blocked our access to our back offices to prevent us from seeing those movements, but from our experience in the industry, we know and have proof how they moved our entire organization under this person to take him from check from 25K to 100K in 3 weeks. Hassam knows this and we reported him and he did nothing. The industry must unmask these types of corporations, and expose these cases because they run over, steal and are committing a crime that must be investigated by the authorities. As an American citizen I am going to go to the authorities so that my rights are respected and the crime be investigated and pay and stop destroying this beautiful MLM industry.
Soy Fernanda Vera de Houston Texas, me uni a Eaconomy en el mayo 2023, y en octubre y noviembre de 2023 empezaron el movimiento de grupos completos de personas, de nuestra pierna de poder. Lo denunciamos a Hassam, por que mi esposo Luis Ventura tiene mas de 20 anos de experiencia en la industria y documenta dia a dia hora a hora toda la estructura, tenemos las pruebas de como el grupo de Ana Franco ( que estaba en una de nuetras piernas 600 personas) desaparecieron en noviembre y aparecio en la linea interna de Julio Lama. No solo no nos pagaron las comisiones, sino que nos bloquearon el acceso a nuestros back office para evitar que veamos esos movimientos, pero por nuestra experiencia en la industria, sabemos y tenemos preubas como movieron a toda nuestra organización debajo de esta persona para llevarlo de cheque de 25K a 100 K en 3 semana. Esto sabe Hassam y nosotros lo denunciamos y no hizo nada. La industria debe desenmascarar a este tipo de corporativos, y exponer estos casos por que atropellan, roban y estan cometiendo un delito que debe ser investigado por las autoridades, como ciudadana americana voy a ir a las autoridades para que mis derechos sean respetados y el delito sea investigado y que paguen y paren de destruir esta hermosa industria de MLM.
Dicho por el mismo hassan en un zoom: “esto es un ponzi legal” causa indignacion como se crean rangos fantasma en 1 semana, ana franco 25k y julio lama 100k. ???
No paga comisiones a muchos, y cierra códigos.
A donde están las autoridades de US ?
Dear Ted,
Throughout my many years of following Business for Home, I have always regarded you as a journalist of exceptional integrity, one who stands above 99% of the industry in terms of ethical standards. Therefore, I was profoundly surprised by the content and approach of your recent article. It appears that multiple assertions were made without the provision of supporting evidence. I am compelled to ask: Did you reach out to eaconomy for their comments? Have you engaged directly with the company?
Firstly, it is concerning to read about Ali Saleh’s actions towards his own lawyer. It is alleged that Saleh hired a lawyer to pursue a lawsuit against an individual he claimed owed him money, only to replicate the same alleged misconduct towards his attorney. I find it troubling that such an individual is presented as a credible source on your platform. This raises serious questions about character and morality. Reference: [https://behindmlm.com/companies/eaconomy/ali-saleh-screws-over-lawyer-in-eaconomy-case/]
Secondly, I am puzzled about the relevance of Sashin Govendor in relation to eaconomy as a company. How is Govendor connected to the matters at hand?
Thirdly, the article allowed multiple affiliates to voice their allegations without presenting any concrete proof. You mentioned that a factual article would follow, yet I could not identify a single source in your piece.
I must express my disappointment. Having followed your site for nearly seven years, I have a deep appreciation for the work you do. However, the departure from your usual standards of evidence-based reporting in this instance is disheartening. Nevertheless, knowing your commitment to truth and integrity, I remain hopeful that you will seek to uncover and present the full truth regarding this matter, as truth and transparency are paramount.
Sincerely,
Gustavo from Argentina
Hey buddy, one has nothing to do with the other. This is an attempt to gaslight and try to discredit me as a person. You are defending a person who has a HISTORY of screwing distributors out of capital. Ask all the silver star live people, they were told to join Eaconomy to receive their checks and what happened they all got stuffed in classic hassan fashion.
Idk if you have ever been through litigation from the looks of it probably not. Either way, when you SUE someone it is for the purpose of getting back what you lost and more, indemnification if you will. The person you are litigating against should be in a position to at least have a bank account in their name unfortunately hassan dont have the ability to do that. He is essentially worthless
– also we later learned that Eaconomy isnt legally in his name so we had to re-strategize.
Anyway, I hope that didn’t go over your head
Not sure if you put certain words in ALL CAPS because you are thinking “this will surely show him who’s boss. or things like “hope that didn’t go over your head” to make yourself believe your rebuttal makes any sense at all or because you want to avoid addressing your own shortcomings when you still will not address your own issues. I decided to do some reaserch on your history in this space since you speak with so much confidence that you are speaking the truth. Your decision to withhold payment from your legal representation raises serious concerns. https://behindmlm.com/companies/eaconomy/ali-saleh-screws-over-lawyer-in-eaconomy-case/ How do you expect people not to question your integirty or your credibility? Your response was that someone does not have a bank account in their name. If said is true how is that your lawyers fault? Where are your morals? Yet, still choose to not answer why you won’t pay your legal fees for a lawsuit you pursued, while simultaneously announcing a move to Dubai on social media? This timing suggests a troubling attempt to evade accountability rather than face the legal consequences of your actions. Additionally, your claim that Hassan doesn’t own Eaconomy reveals a potential lack of understanding regarding asset protection. Well “buddy” let me explain something to you in the simplest way possible Let’s talk about trusts assest protection. Imagine a trust is like a special box where you put your valuable things for safekeeping. You choose someone trustworthy to watch over the box, and they follow rules to manage what’s inside. Large companies use trusts to protect their assets, just like you’d use that box to protect your favorite toys. But here’s the important part. So it is clear you are very misinformed and ignorant of the law if that is the reason you had to “restrategize” (not pay your lawyer)
Also why are you puzzled about Sashin? Just shows the character of hassan to be okay with NOT PAYING people.
Sashin did work that he wasn’t paid for – to remove negative press and imagine after stiffing the guy you hired to remove the bad press that uncovered a whole can of worms. Guys an absolute joke and you should be ashamed to defend his “honor”
Estimado Ted,
A lo largo de mis muchos años siguiendo Business for Home, siempre te he considerado un periodista de excepcional integridad, alguien que se destaca sobre el 99% de la industria en términos de estándares éticos. Por lo tanto, me sorprendió profundamente el contenido y enfoque de tu artículo reciente. Parece que se realizaron múltiples afirmaciones sin la provisión de evidencia de apoyo. Me veo en la necesidad de preguntar: ¿Has contactado a eaconomy para obtener sus comentarios? ¿Has interactuado directamente con la compañía?
En primer lugar, es preocupante leer sobre las acciones de Ali Saleh hacia su propio abogado. Se alega que Saleh contrató a un abogado para seguir un juicio contra un individuo al que afirmaba que le debía dinero, solo para replicar la misma presunta mala conducta hacia su abogado. Me resulta problemático que tal individuo sea presentado como una fuente creíble en tu plataforma. Esto plantea serias preguntas sobre el carácter y la moralidad. Referencia: [https://behindmlm.com/companies/eaconomy/ali-saleh-screws-over-lawyer-in-eaconomy-case/]
En segundo lugar, me desconcierta la relevancia de Sashin Govendor en relación con eaconomy como compañía. ¿Cómo está conectado Govendor con los asuntos en cuestión?
En tercer lugar, el artículo permitió que múltiples afiliados expresaran sus alegaciones sin presentar prueba concreta alguna. Mencionaste que seguiría un artículo factual, sin embargo, no pude identificar una sola fuente en tu pieza.
Debo expresar mi decepción. Habiendo seguido tu sitio por casi siete años, tengo un profundo aprecio por el trabajo que realizas. Sin embargo, la desviación de tus estándares habituales de reportaje basado en evidencia en este caso es desalentadora. No obstante, conociendo tu compromiso con la verdad y la integridad, sigo esperanzado de que buscarás descubrir y presentar la verdad completa respecto a este asunto, ya que la verdad y la transparencia son de suma importancia.
Atentamente,
Gustavo de Argentina
Hola, Soy Heiman y me sucedió lo mismo me quitaron el acceso a mis cuenta y comisiones; me imagino que con inteligencia artificial.
Creo mucho en la industria del network marketing y también creo que ya es hora de que se hagan bien las cosas, ya lo merecemos.
Heiman Ordoñez
Colombia
Mi nombre es Ronald Naranjo y Yo soy testigo de lo que ha hecho Hassan y su compañía la cual me bloqueo el codigo sin razon alguna, y dejo de pagarme mis comisiones y se que a muchas de las personas en mi downline.
Vi movimientos en mi downline sin permiso de ninguno de los lideres que estabamos activos, en fin espero que se haga justicia.
Ronald Naranjo
Costa RIca
This company is all about favouritsm, people were placed above me and I wasn’t even involved in that decision. I only found out cause Tej told me what our “upline” did.
Slander removed by admin
Not sure if you put certain words in ALL CAPS because you are thinking “this will surely show him who’s boss” or when you say “hope that didn’t go over your head” to make yourself believe your rebuttal makes any sense at all or because you want to avoid addressing your own shortcomings when you still will not address your own issues. I decided to do some reaserch on your history in this space since you speak with so much confidence that you are speaking the truth. Your decision to withhold payment from your legal representation raises serious concerns. https://behindmlm.com/companies/eaconomy/ali-saleh-screws-over-lawyer-in-eaconomy-case/ How do you expect people not to question your integirty or your credibility? Your response was that someone does not have a bank account in their name. If said is true how is that your lawyers fault? Where are your morals? Yet, still choose to not answer why you won’t pay your legal fees for a lawsuit you pursued, while simultaneously announcing a move to Dubai on social media? This timing suggests a troubling attempt to evade accountability rather than face the legal consequences of your actions. Additionally, your claim that Hassan doesn’t own Eaconomy reveals a potential lack of understanding regarding asset protection. Well “buddy” let me explain something to you in the simplest way possible Let’s talk about trusts assest protection. Imagine a trust is like a special box where you put your valuable things for safekeeping. You choose someone trustworthy to watch over the box, and they follow rules to manage what’s inside. Large companies use trusts to protect their assets, just like you’d use that box to protect your favorite toys. But here’s the important part. So it is clear you are very misinformed and ignorant of the law if that is the reason you had to “restrategize” (not pay your lawyer)