Amway WWDB Triple Diamond Greg Duncan Bankrupt!

My former upline in Amway/Quixtar is bankrupt….

Amquix.info:

GDUNCAN_lg
World Wide Dreambuilder's Triple Diamond and former IBOAI board of director Greg and Laurie Duncan have been in bankruptcy court  since Sep. 11 2007!  A site visitor notified me of the bankruptcy after checking up on their numerous houses that were in foreclosure last year. 

The Duncan's listed assets of $63 million and debts of $8.4 million.  Despite having millions in net worth, the Duncan's cannot service all their debts.

The Duncan's owed $1.7 million to the  IRS for back taxes and penalties and $452,000 to the State of Montana for back taxes.

In April of 2008, the Duncan's filed a reorganization plan and  disclosure statement under court sealing that was later unsealed when it went into Chapter 7. 

Supposedly $9 million of Duncan's cash got drained away in a lawsuit over the rights to sell he XS energy drink.   I obtained documentation of a suit involving the XS energy drink brand with a company called Cetalon.   Cetalon claimed it was given marketing rights for the XS brand and was suing for its piece of the pie after Quixtar became a major buying.   Greg Duncan was named as a defendant, and  Cetalon went bankrupt when it lost the case.

All the bankruptcy documents are public record on Pacer.

Last updated by at .

* First Name
* Email
  * = Required Field
 
Email Marketing You Can Trust

90 Responses to “Amway WWDB Triple Diamond Greg Duncan Bankrupt!”

  1. Ty Tribble says:

    The fact of the matter is Amway systems WWDB, BWW, etc. work very hard to lay the blame on the distributor, making you feel guilty. Reality is, Amway has a 1959 used car compensation plan while other company’s have new cars. The deck is stacked against anyone who joins Amway….period.

  2. me says:

    Fortunately or Unfortunately however you look at it. Everybody has an opinion and everybody thinks theres is better(multi level) so really any comments are just that comments.

  3. you says:

    even donald trump has filed for bankruptcy. you obviously dont understand business. but because of the internet you can post whatever you want and make it look official. google really is the bathroom wall of the internet

  4. Joecool says:

    “even donald trump has filed for bankruptcy.”

    Not chapter 7 bankruptcy.

    As I said, Greg could always clean toilets to earn extra cash. LOL

  5. lucinda says:

    and scott coon?

  6. Joecool says:

    This comment was on the Amquix Website:

    I’d prefer to remain anonymous. I applaud you for your site and efforts to bring truth to the fore.
    Some facts about Duncan are incorrect.

    1) Lawsuit against Cetalon: He (nor Sarshela) did NOT win; Cetalon did NOT lose. The last action was Cetalon requesting the whole case be dismissed in 04/07. hmmm why would they do that after initially seeking over $40mm? Because they came to an agreement! It was settled out of court for $7.5mm. Duncans claims the case cost him $9mm are complete BS. Remember that he owns Sarshela in part so any costs would have been divided equally!

    2) He no longer owns any property – he lost all six in MT to foreclosure last year. The bankruptcy docs are dated 07 and 08 and no longer valid. His asset base no longer includes any properties because he simply doesn’t own any! You can check with the local police dept – he changed the locks on the house he was in and had to be removed/evicted…not very dignified way to go, but those houses are gone! Here’s one of them now up for re-sale since it’s been purchased by the new owner: http://www.coldwellbanker.com/servlet/PropertyListing?action=detail&ComColdwellbankerDataProperty_id=14855788&page=property
    How impressive are his assets now?

    3) He is in Chapter 7 right now and fighting to get back in Chapter 11 to try and convince the IRS and courts that he can pay it back.

    4) I would suggest his estimate of Sarshela value and his share is grossly inflated. Anyway: in this economy who would pay him $36mm for a company that sells one product, to one customer, with greatly declining sales? Again I ask how impressive is his asset list now?

    5) He is/was a triple diamond. IBOFB likes to think critics always claim the ‘cash lifestlye’ applies to any diamond, when he says it should really only apply to the bigger pins (double, triple and above etc…) OK – this guy has been a triple for some time. secondly the supposed ‘massive income’ that IBOFB claims these big pins wheel in didn’t apply even to Duncan: according to the documents his income from his Amway/Speaking business was not even $1mm per year. So these things combined and yet still he couldn’t afford such a cash lifestyle and he couldn’t even pay his cable bill….strange given he was banking over $100k per month from all income sources…..

    Pride cometh before the fall….

  7. roberto gomez says:

    Going bankrupt would be the persons fault obviously your doing very well if you get owe the IRS millions and millions of dollars its just like anything else in life living life inside your means. Amway works most people who are not a affiliate have no idea how it works. remember a search engine is not research it is the same as the bathroom wall ..

  8. Jake says:

    So the Amway Global website is also a bathroom wall?

  9. Ty Tribble says:

    I was told today by someone affiliated with WWDB that upline leaders are telling their groups that this whole business about Greg Duncan Bankruptcy is fabricated and untrue.

    Wow.

  10. Joecool says:

    Yep, once again, an unethcial leader simply gets a pass. They used to lie about tools profits, got caught. and got a pass.

    If Tiger Woods was a diamond, he could just deny that he had affairs and his downline would believe him.

    Amazing!

  11. Joecool says:

    I just visited a blog recently where the blog author is saying everything about Greg on the internet is a bunch of lies. I guess these WWDB leaders are just denying that anything happened?

  12. Ty Tribble says:

    What’s the site?

  13. Joecool says:

    http://expeditionoftruths.com/2010/03/14/march-regional-rally-reflection/

    “What ever happened to Dave Duncan and Greg Duncan, Brad’s father and younger brother?”

    “I’d check with your upline if your still in the business, if your not then it really doesn’t matter does it? I only say that because of the crap and lies that are spread around the internet about them.”

  14. Joecool says:

    BTW, this IBO is at 1000 PV and he talks about retiring his wife and purchasing a home in cash within 5 years. Things that many Amway defenders like to deny. He took a full sip of WWDB kool aid.

  15. Joe Schmoe says:

    What a bunch of shyters. They preach a good game, but obviously don’t live by the standards they pretend they practice. http://amquix.info/pdfs/wwdb/Duncan/Doc_123_disclosure_statement_exhibit.pdf

  16. RK WWDB says:

    I am so pissed about this I could spit… I’m out there STP and edifying this a-hole and I learn about the bankruptcy through a prospect.

    If WWDB doesn’t shine the light on this at Spokane Leadership, I’m going to plaster this on every blog I can get my hands on. No wonder Greg doesn’t want us reading the bathroom wall… he’s on it.

    Feel like a total moron for not seeing this ’til recently. Unbelievable.

  17. Jesse says:

    Yeah I attended spring leadership too….

    was just getting excited btu I needed to check the facts before actually signing up…

    I thought the business made sense before but cealrly the tools people are buying…that’s where it all comes from.

  18. Joecool says:

    Jesse, it’s a HUGE conflict of interest for upline to tell you that their tools are your key to success when they profit handsomely from them. Ask your upline the tough questions about the tools and if they don’t give you a straight answer, you should really think about that.

  19. EnigmaX says:

    Just returned from Spring Leadership as a new IBO. I can see how the system works and ideally it does work. I am not looking to go Diamond, but just earn some extra cash per month with a little work. I know the the tools thing is kind of scammy, but I understand it is how they make money. I have a pretty good, young and exciting sponsor and trust him. I will give this 6 months and if it does not work out, I will bail.

    Leadership was encouraging and there are things there I can take away and apply to everyday. These are things i would not have sought out for myself. My ticket was free and Spokane was nice.

    The Christian rhetoric was too much for me. Okay, I get it and I am somewhat used to it just growing up in America. If they lightened up the religious tone, I would definately be more sincere in my interest. I had to bail when they started repeating the same messages about Man and Woman which were very offensive and quite abusive to my ears. I am from my Seattle and if some of the people I know heard this stuff, there would have been very strong words exchanged. This is 2010 and some of the words being spewed came from ancient times of repression and oppression. They need to grow up a bit. I see what they are doing is a marketing ploy for the somewhat more gullable people who happen to be Christian. Not all Christians adhere to this rhetoric, I know. The people I know involved in this are kind, sweet and a bit lonely in the world.

    Also regarding Spring Leaderhip: Day One sucks. Why does Christian music have to be soooo bad? Their songs from 1950s were good. I guess the sheer nature of that religion does not allow creativity. Creativity is viewed as excess (not XS) and that is a sin. The music is too focused on the message to its detriment. Sadly, the singers looked gayer than springtime prancing and singing across the stage.

    Over all, a positive event. As with any venture in life one has to use caution especially when personal finances are at stake.

  20. zavier says:

    Hey man the business opportunity isn’t bad it’s the leadership. I’m with the BWW organization. With any company there are going to be dishonest individuals. I spent the last 11 years in the Marine Corps 3 1/2 years I was a Drill Instructor and we preach Honor Courage Commitment, but we still had Marines “Leaders” not holding up to the standards. Amway has some great products. I really don’t buy that many CDs. You can be profitable without the tool… I have. You can check me out on my MySpace page or Facebook. Good luck.

    Zavier J. Cobb

  21. RK WWDB says:

    Okay, so it has been year… please tell us the truth about the size of the check you received last week and what you did for your retirement. Otherwise you destroy the little cred that you had. Much thanks.

  22. Joecool says:

    http://www.howlifeworks.com/finance/debt_settlement/?AG_ID=521&cid=7060cv

    Debt Settlement or Bankruptcy

    Two common solutions people turn to are debt settlement and bankruptcy. Generally, if you are struggling with a financial hardship and are behind or falling behind on your minimum payments, then debt settlement may be right for you. If your situation is more dire, then you may consider bankruptcy.

    Note: “If your situation is more dire, then you may consider bankruptcy.”

  23. MARY HITCHCOCK says:

    WE DID IT WENT DIRECT.I REALLY LIKED THE PEOPLE,WE WERE IN IT FOR 10 YEARS.DONT DO IT.WE SPRNT TENS OF THOUSANDS OF DOLLARS FOR TOOLS,PRODUCTS,TRIPS,MINI RALLEYS,FUNCTIONS,WE GAVE IT OUR ALL.WHEN WE WERE IN LEADERSHIP IN ALASKA GOD SPOKE TO MY HUSBAND AND HE INFORMED ME WE WERE GOING TO QUIT.WE DID ALL WE WERE TOLD TO DO .NEVER MISSED A FUNCTION.TRAVELED ALL OVER THE COUNTRY.IT WAS VERY EXPENSIVE.OH HOW I WISH WE WERE NEVER SHOWN THE PLAN CAUSE WE SPENT EVERYTHING ,OUR SAVINGS GONE,OUR FUTURE RETIREMENT WILL BE HARD FOR US.NO SAVINGS.WE GOT INTO DEBT SO BAD WE TOOK YEARS TO PAY IT ALL OFF.BE CAREFUL,DONT DO IT IS ALL I CAN SAY.THE PEOPLE ARE WONDERFUL BUT IT ONLY WORKS FOR A FEW ON THE TOP.WE WERE IN WWDB JACK,DAUGHTERY,BRITTS BEFORE THE SPLIT.WHEN THEY SPLIT IS WHEN WE STARTED TO FALL APART.TOO FAR FOR THE MEETINGS TO GO.TOO MANY LOST WORK DAYS AND HOTEL BILLS ETC.WE HAD SO MANY DIAMONDS COME TO HELP US TOO.THEY REALLY CARED I THINK.MY FAVORITES WEWE THE MOORES AND SOMMERS.OUR WHOLE GROUP IS NOW OUT OF IT.PLEASE REMEMBER MY MISTAKES AND RUN FAST CAUSE YOU WILL LOOSE LOTS OF MONEY IF YOU STAY IN IT.GOD BLESS YOU

  24. MARY HITCHCOCK says:

    get out now.i cannot tell you how much time and money we lost thru tools,functions etc.we did it 10 years,went direct our name is on the wall in ada. mich,we gave it 100 %i promise you.i am telling you the whole truth.beware,the people are great but only a few really make any money,good luck

  25. Tony Fisher says:

    LOL………….

  26. Wow I remember Greg Duncan when I was in Amway back in the early 80′s.

    I thought they had a gazillion dollars.

    Anybody hear from JImmy Head….

  27. James411 says:

    Ty,

    Just one question for you…. How many different MLM/Network opportunities have you been involved in? How many in the last 10 years? Last 3 years? The reason I ask is that much of what I have read are people taking shots at the big pins in WWDB, including you. Many of the jabs are directed at “tools” and profits derived thereof by platinums and above in WWDB. The question I have of you is how much money are you making off of the sales of your “tools”, ie MLM Web Secrets? I don’t begrudge you making money and you’re up front about it, but just curious. I also wanted to come right to you directly and ask, rather than post my question on some obscure site that you might not see. Just wanted to be transparent. I read some trash about you on another site:

    http://www.thetruthaboutamway.com/bo-short-ty-tribble-jump-companies-again/

    Just curious to hear the truth directly from you. Thanks.

  28. Ty Tribble says:

    There is a big difference between someone who jumps companies all of the time and someone who leaves a company for ethical or corporate competency reasons.

    After leaving Amway (2002) I joined a small company called Passport. Was the # 1 rep and then helped merge the company with Univera. Was fastest in the history of Univera to get to the Platinum level (Equal to Amway Emerald) and built for 2 years until they had a major meltdown.

    Then I joined Max Int. (fastest to Diamond – 6 figures plus) in the history of the company. I left for ethical reasons and the company was shortly thereafter sued for over $400 million.

    After leaving Max, I joined start-up EIRO and did millions and millions in sales on my team, but after two years, the company decided to take their products direct and remove the MLM.

    After all of that, I decided it was time to look for a very solid company that is growing in the U.S. and after looking at 60 companies, speaking to over 20 company owners and ceos and meeting with a half dozen owners, I choose Shaklee. Anyone who thinks that moving from one company to another is a way to make more money is stupid. If I just cared about the money, I would have stayed at Max Int.

    I sell internet marketing and network marketing training outside of my team and company, which means that the training stands on it’s own. I don’t think any WWDB diamonds train outside of Amway. Big difference.

  29. James411 says:

    Thanks. I appreciate the response. I can respect leaving for moral/ethical reasons. I can’t say that you were dumb to join in the first place as often we don’t find out about moral issues until we’re fully involved and been around awhile. It’s tough that has happened to you, but I’m amazed that you’ve pressed through, especially through that many changes. That’s really the main point, though. It take perseverance to succeed in any of these businesses. Cudos to you.

  30. Ty Tribble says:

    Thanks James. Many people give up way too early. Focus on developing your skills and work towards a lofty goal and great things will come. Of course, it’s still important to keep your eyes open and watch what is going on around you.

  31. Susie says:

    not exactly related but doesn’t the ftc come down on nwm companies or reps who post their bonus checks on the internet/facebook?
    seems like the ftc wants evidence of retail sales from nwm’s not hype from the top of the pyramid.?????

  32. Jami says:

    In response to the comments that it doesn’t matter what company / comp plan you go with …Really ? Do yourself a favor and get out of Network marketing because the 1. Integrity of the company and the 2. Quality of the product and 3. payout to the sales force are the three KEYS to selecting any company. I had other criteria like length in business (more than 5 years) and a great upline who offer FREE training and SHARE tools not just SELL tools.

    I choose Isagenix, the comp plan and the monthly requirements can’t be compared. I used to sell Avon and Wildtree Herbs (because I liked the products) and I NEVER had to pay taxes on my income , pretty sad. I also didn’t get suckered into buying tons of tools so I never lost anything more than time . TOOLS should be purchased from PROFITS . Elbow grease and a small marketing budget are all it should take to get off the ground. I now invest in a few tools for Isagenix , one of my favorite is Sendible because it makes social marketing easy and way more effective, weebly to build my website, One true media for videos and Vista Print for paper supplies. I also use the free websites I am given with isagenix and free squeeze pages plus I upgraded to their contact management system because I get a lot of leads. I spend at most $60 a month on tools. I read ZZ and RK books , but I borrow those . I may travel to convention BUT it is a vacay / business expense and i do 2 shows a year at approx $300. Am I rolling in it , no . Am I making money and steadily increasing ABSOLUTELY !

    In 3 years I expect to be making a large full time income and be able to cover all my household bills. I KNOW I can do it because I know my upline does it and they are helping me step by step to get there. I may never reach millionaire status, and I’m fine with that . The difference is that reaching millionaire status is possible in my business because we get paid at LEAST 50% of what the company takes in. We have REAL millionaires, not paper millionaires , so all I have to do is follow their lead.

    To end this book I’ve written here,lol, is PLEASE investigate . Don’t jump into these new companies with 1 or 2 products that don’t stand the test of time and don’t get suckered in by a comp plan that really only works for the company …do the MATH . And as far as tools…search the internet . REAL masters like Zig and Robert K offer so much FREE , you don’t need self proclaimed guru interpretations of the source. Tools are great IF YOU CAN AFFORD THEM !
    Good Luck !

  33. Joe Stewart says:

    Each and everyday I hear more and more about these Amway diamonds going broke or owing people money. My former Amway upline Diamond was Mike Bundy. My personal sponsor lied and told me that Mike made in upwards of $500k per month, but obv if you look through the top 400 earners in MLM Mike Bundy is nowhere to be found! Here is an article I wrote about this issue recently: http://workwithjoe.us/mlm-leaders/review-of-mike-bundy-amway-founders-diamond-and-ltd-leader/

  34. Ted says:

    I was shown the plan, I tried my best to “recruit” but found even my family and close friends shunned me, the market is completely “saturated” after a few months I realized how large the Amway pyramid really was.

    The secret is the “tools” the “motovational” tapes. but only a few at the top get to control that,

    I got out after two months when I sat down and figured that even I went full time the most I would make would be $115.00 per month. (before expenses). I started running and never looked back. my upline sponser could not believe I would leave.

    Hard to believe people fall for this and stay in way to long. Its “hopeless” and the “greed” at the “ralleys” is is disgusting,

    I am very surprised that Amway is still around, to be honest with you, but I think that because their is an extremely “fast” turn around of new people, but would you think that should end also???

    Ted

  35. Bob Anderson says:

    Anyone heard something about Amway filing bankruptcy? A neighbor told me today. Is it true?

  36. Bob Anderson says:

    TY, know anything about Wave10? Mobile Mone account? WT POWERS? Patrick Monteforte? Which MLM company catches YOUR eye?

  37. Ty Tribble says:

    Not likely. Amway is doing over $10 billion in sales.

  38. Ty Tribble says:

    WT Powers is not an MLM, it is a system to help you build an MLM.

  39. Tall Paul says:

    Ty, I have been in mlm for about 15 years. Unfortunately I have made little money. I have worked very hard and decided not to be a company hopper. However, I had to leave three companies because of moral issues with either my up line or the company. I’m currently with my 4th company which I really enjoy the products. I just am tired of the same old routine of building with no results. I have read Ann’s book and getting ready to purchase your material. I guess I’m looking for reassurance that blogging will help me build my business. I have 1 person signed up already doing about 5,000 a month. I need a way to attract more people like him. The friends and family routine is dead. My up line has meetings every night but due to family and work (they live an hour away) I usually don’t make it. I also love the idea of being able to sell your material to others. Any advise for a struggling mlm’er.

Trackbacks/Pingbacks


Leave a Reply

Ty's New Book: Double Your Income

Double Your Income - Ty Tribble

Categories

Archives

* First Name
* Email
  * = Required Field
 
Email Marketing You Can Trust