Following its Chapter 11 bankruptcy, DreamTrips emerged as the successor to WorldVentures about a year ago. DreamTrips came about as a result of Verona International Holdings acquiring WorldVentures’, namely the MLM company and Rovia (WorldVentures’ in-house travel services provider). BehindMLM reviewed DreamTrips in November 2021, following a November 16th launch announcement. A reader recently wrote […]
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As part of WorldVentures bankruptcy proceedings, Wayne Nugent is required to hand over ‘passwords to certain internet domains that belong to’ parent company Spherature Investments. He hasn’t, prompting the Liquidating Trustee to file for contempt. Nugent is required to hand over the passwords as per November 12th approval of Spherature Investments’ bankruptcy plan. That plan
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When it filed for bankruptcy last December, WorldVentures owed affiliates millions of dollars in unpaid commissions. As part of its acquisition of WorldVentures, DreamTrips International is now offering WorldVentures affiliates “up to 60%” of owed commissions. DreamTrips International, owned by Verona International Holdings, claims it “is not responsible for WorldVentures’ debts”. However, we have agreed
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The beef between WorldVentures’ current owner, Verona International Holdings, and former owner Wayne Nugent is starting to take shape. We first came across news of a potential lawsuit between Verona and Nugent a few weeks ago. An interpleader complaint, filed by Seacret Direct against Nugent, details payment issues between the parties. As revealed in Seacret’s
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DreamTrips was initially the name of WorldVentures’ travel service product. It has now been launched as a stand-alone MLM company. Who owns DreamTrips is murky. WorldVentures filed for bankruptcy in December 2020. Those proceedings culminated in Verona International Holdings acquiring what was left of WorldVentures in June. At the time Verona International Holdings had no
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WorldVentures has settled its litigation against Seacret Direct and Eddie Head. The MLM company, currently in middle of bankruptcy proceedings, filed suit against the parties earlier this year. WorldVentures, litigating as parent company Spherature Investments, informed the court of the reached settlement on October 28th. As per terms of the settlement, Seacret will continue to
WorldVentures settles with Seacret Direct & Eddie Head 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
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Last month WorldVentures filed a proposed “compromise and settlement” reached with plaintiff Viva Voyage. The proposed settlement was approved by the bankruptcy on October 4th. As per the terms of the settlement, WorldVentures and Viva Voyage will equally split $574,180 held by the Court Registry. The amount, at issue in both lawsuits, was deposited with
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WorldVentures will exit bankruptcy through a proposed acquisition by Verona International Holdings. As per a press-release issued by WorldVentures on June 3rd; WorldVentures … is pleased to announce that it has entered into a binding agreement … with Verona International Holdings as a plan of reorganization sponsor under the bankruptcy code. This agreement, valued at
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WorldVentures has secured a preliminary injunction against former executive Kenneth E. Head (aka Eddie Head). As alleged by WorldVentures, upon leaving the company Eddie Head essentially began replicating its travel opportunity at Seacret Direct. The granted preliminary injunction prohibits Head, who was recently appointed President of Seacret Direct, from having any involvement in Seacret’s newly
WorldVentures secures prelim injunction against Eddie Head Read More »
