XL Results Foundation review: Ponzi Scheme

Ponzi scheme to hit Australian Consumers

A traveling Ponzi scheme which has done the rounds in Asia will target Australian Consumers from Monday 9th February, 2009.

Roger Hamilton, Chairman of XL Results Foundation will arrive in Australia next week as part of an Australian wide sales trip to Perth, Adelaide, Sydney, Melbourne and Brisbane in an attempt to raise funds for the cash strapped Get Rich Quick Scam.

XL Results Foundation is a bogus business networking scheme that bilks would-be entrepreneurs for membership money while providing them with non-existent training and networking opportunities.

Operating a sophisticated smoke and mirrors website created with the intent to cheat the public, XL Results Foundation promotes itself as the largest entrepreneur network in the world and offers consumers the opportunity to join the program at a premium.

Warnings against the operator Roger Hamilton, Chairman of XL Results Foundation and his cohorts have been issued globally by consumer associations (/link removed/ http://www.rip-off.co.uk, www.hotscams.com, ) consumer activists, whistle blowers and news media revelations in Singapore, Australia and New Zealand. The community was initially alerted to the scam back in 2007 by the citizen journalist website Perth Norg.

Bloggers from Australia, Canada, New Zealand, Shanghai, Singapore and the United Kingdom have issued warnings against the Ponzi scheme.

XL breaches consumer protection laws by high pressure sales tactics, false investment claims, charging a large up front fee for a life membership, constant recruitment of individuals into the scheme and offering a commission on the recruitment of new members.

Up to 1, 000 Australian’s are believed to have fallen prey to the scam paying USD$10, 000 for an XL Results Foundation Life Membership. XL needs to constantly recruit new members to keep the scam alive.

After parting with thousands of dollars, duped consumers are left empty handed and shame faced.

Roger Hamilton and XL Results Foundation have blocked legal requests for full disclosure of the company accounts and have failed to submit 2007 company accounts.

The company registered in Singapore (Company registration: 200107729C), has since closed its office.

Company Secretary, MARGARET LOH CHUI MEI, 10 Anson Road, #21-07, International Plaza, SINGAPORE 079903.

In Singapore, more than 150 members demanded a refund claiming they were duped and cheated by the Chairman of the company, Confidence Trickster Roger Hamilton.

The community campaigner who co-ordinated the mass refunds is Ms Ann Phua, who can be contacted on email [protected]@rvmediaworld.com

Mr. Hamilton has suggested he is the victim of a slur campaign and that international media did not do due diligence, all classic conman tactics to deflect questions regarding the company’s business practices. Mr. Hamilton and XL have spent hundreds of thousands of dollars of public funds in legal fees to threaten individuals who have spoken out against the scam.

Duped consumers have been advised to contact the Department of Fair Trade and the Australian Competition and Consumer Commission.

Roger Hamilton and XL Results Foundation is promoted by Mr. Paul Dunn, ResultsNet Australia (ResultsNet Australia Pty Ltd, Registration No: [protected] and XL Results Foundation Pty Ltd, Registration No: [protected] based in Perth).

Further information can be found at:

http://blog.datamanagementsolutions.biz/2008/06/shonky-operator.html
http://www.bizop.ca/blog2/complaints-and-investigations/xl-results-foundation/
http://mingtiandi.com/?p=58
http://www.brilliant4biz.com/category/xl-results-foundation/
http://xlresultsfoundationscam.blogspot.com
http://www.businessesfromhell.com/topic.asp?TOPIC_ID=401
http://www.stuff.co.nz/4287069a6442.html
http://www.pyramidschemealert.org
http://www.brisbanetimes.com.au/articles/2007/05/30/1180205312469.html