Less than a week after the U.S. Securities and Exchange Commission accused Wayde McKelvy of raising $30 million in a Ponzi-like scheme through his company, Speed of Wealth LLC, he already was advertising a new business opportunity.
McKelvy recently sent out e-mails promoting Donald Trump’s new program, the Trump Network. The vitamin and health-product business has a multilevel-marketing platform in which salespeople receive a cut of the products sold by salespeople they recruit, in addition to the money they make selling the products, according to The Associated Press.
The Trump Network did not return messages from The Denver Post.
Based in Centennial, Speed of Wealth and its principals, Wayde and Donna McKelvy, are accused of recruiting more than 300 investors for a Pennsylvania company called Mantria Corp. Mantria executives Troy Wragg and Amanda Knorr are accused of paying off earlier investors with funds from new investors.
The SEC filed a complaint in U.S. District Court in Denver on Nov. 16 claiming that the previously married Mc-Kelvys advertised "green" investments, such as charcoal produced from organic waste, through Webinars and seminars.
In his e-mail promoting the Trump Network, McKelvy said he does not want to "raise money or preach personal finances" but still advocates owning a business.
Source: Denver Post
Although there are and will be people making substantial income from The Trump Network, it will become best known for creating more people losing more money than any other MLM company in history. Donald Trump has forever tarnished his coveted brand by costing thousands of desperate people to lose thousands of dollars. It’s already happening. Just because he used his name and money to buy into an MLM company, doesn’t mean he knows the difference between a vitamin and a suppository. We KNOW why he did it.
It really is interesting how much attention the trump network has attracted with their launch.
Like you indicated on your post, even ponzi scheme artists have been attracted to it, as well as other more legitimate business people.
It certainly is one of the more hyped up opportunities on the internet right now, without a doubt.