MLM Blog – Network Marketing Blog

YTB Travel MLM Lays Off 25% of Corporate Employees?

Posted on 24. Jan, 2010 by Dan Mitchell.

I just unleashed 7 of my most closely guarded Internet Marketing files for the first time. Download Ty Tribble's MLM Web Secrets. It's my free gift to you for visiting.

I've heard from multiple sources that up to 40 people were layed off last Friday at YTB headquarters in Wood River, Illinois.

Can anyone confirm this?

Continue Reading

YTB Travel Sued For $100 Million In Class Action Lawsuit

Posted on 07. Jan, 2010 by Ty Tribble.

I heard that some are heading from YTB over to Fortune Hi Tech.  Fortune has a similar compensation plan and has recently been in trouble with an Attorney General, (see previous MLM Blog post), Could this be out of the frying pan and into the fire for YTB associates?

Speaking of YTB. Is this the end?

YTB International faces a new legal challenge with the year-end filing of a class action lawsuit that alleges that YTB has “perpetrated an illegal pyramid scheme that represents one of largest fraud(s) in the history of the State of Illinois and the history of this nation.” The plaintiffs are requesting $ 100 million in actual and punitive damages and was filed U.S. District Court for the Southern District of Illinois, East St. Louis Division. The action has once again focused attention on multilevel marketing companies and industry standards.

“The defendant corporations have taken over half a billion dollars from their unsophisticated customers, selling them on the dream of cheap travel and million dollar pay-outs when the only way that Plaintiffs and their class could make a net profit was by recruiting others to join the illegal pyramid scheme,” the plaintiffs argue. “While over half of the its customers received no travel commissions at all, the directors of YTB International, Inc. each paid themselves multi-million dollar salaries while also siphoning tens of millions of dollars from their publicly traded corporation to privately owned corporations that they owned and controlled. Plaintiffs and their proposed class ask this Court to end Defendants’ massive fraud and to enter a judgment that compensates them for the hundreds of millions of dollars that Defendants swindled. Plaintiffs’ claims are typical to those of their proposed class because they arise out of Illinois common law.”

Continue Reading

YTB Travel 3rd Quarter Revenues Drop 62%

Posted on 15. Dec, 2009 by Ty Tribble.

MSN Money:

Total revenue for third quarter dropped 62 percent to $15.9 million, down from $42.2 million for the third quarter of 2008.

YTB attributed the decline in revenue to a drop in the number of new Internet Business Centers sold during the quarter and a decrease in the number of active IBC site owners.

Continue Reading