NewAge has come out of bankruptcy with new ownership and a new company name; PartnerCo. PartnerCo’s new “identity” announcement was made on February 13th… …although plans for the rebranding appear to date back to January: Over on FaceBook, we can see NewAge’s official page was rebranded to PartnerCo on February 12th: John R. Wadsworth, who […]
NewAge rebrands as PartnerCo post bankruptcy Read More »
Ariix has been fined €960,000 EUR for consumer fraud by Italy’s Competition Authority (AGCM). Following a complaint filed by the consumer protection group “Il Gatto e la Volpe Nel Web” in 2018, Italian authorities began investigating Ariix and parent company NewAge. AGCM’s legal action commenced against Ariix Italy S.r.l. on May 24th, 2022. As part
Ariix fined €960,000 EUR for consumer fraud in Italy Read More »
NewAge has settled violations of the Securities and Exchange Act with the SEC. As per an October 19th order, NewAge consented to a cease and desist. NewAge’s violations are tied to the actions of former CEO Brent David Willis (right), who the SEC separately sued on October 18th. The linked article above covers in detail
NewAge settles Securities and Exchange Act violations with SEC Read More »
The SEC has sued former NewAge CEO Brent Willis for fraud. According to the regulator, Willis told porky pies which contributed to NewAge’s “growth and success”. As alleged by the SEC, Willis lied about “product distribution deals” in “investors conferences, earnings calls, media interviews, and in at least 12 press releases.” In reality, these distribution
SEC sues former NewAge CEO Brent Willis for fraud Read More »
NewAge’s bankruptcy just got a whole lot more interesting. Having secured NewAge through a Purchase Asset Agreement back in August, John R. Wadsworth’s first order of business is suing the company’s former executives. Breach of contract, sabotage for self-gain and extortion. A peek into the downfall of an MLM company that once boasted $500 million
NewAge’s bankruptcy preceded by sabotage and extortion Read More »
Approval has been granted to sell NewAge off to original Morinda co-founder John Wadsworth. NewAge, who owns the MLM companies Noni by NewAge and Ariix, filed for Chapter 11 bankruptcy on August 30th. That same day NewAge signed an Asset Purchase Agreement with DIP Financing LLC. DIP Financing LLC is a Wyoming shell company with
NewAge sold to original Morinda founder John Wadsworth Read More »
Approval has been granted to sell NewAge off to original Morinda co-founder John Wadsworth. NewAge, who owns the MLM companies Noni by NewAge and Ariix, filed for Chapter 11 bankruptcy on August 30th. That same day NewAge signed an Asset Purchase Agreement with DIP Financing LLC. DIP Financing LLC is a Wyoming shell company with
NewAge sold to Morinda founder John Wadsworth’s nephew Read More »
NewAge filed for Chapter 11 bankruptcy on August 30th. The filing affects subsidiary MLM companies Noni by NewAge and Ariix. As revealed in NewAge’s bankruptcy filing, the company has $310 million in assets and $149 million in debt. NewAge’s debt is broken down as follows: NewAge – ~$1 million NewAge Holdings – ~$18 million Noni
NewAge files for Chapter 11 bankruptcy (Ariix & China) Read More »
The FTC has issued at least 379 MLM companies with deceptive and/or unfair conduct notices. This was announced by the FTC on October 26th. If it slipped under your radar, you’re not alone. I learned of the FTC’s announcement via a tip sent in by a reader. At first I thought there was some funny
FTC sends 379 MLM companies deceptive/unfair conduct notices Read More »
Haskell Knight, better known in the MLM industry as Trey Knight, has been indicted on three felony counts of wire fraud. Trey Knight (right) appeared on BehindMLM’s radar in 2020, as founder and CEO of Navan Global. Knight made a name for himself in the Fortune Hi-Tech Marketing pyramid scheme. Prior to the FTC shutting
Navan Global founder Trey Knight indicted for wire fraud Read More »
