Authorized correspondence between attorneys alleges WorldVentures’ income has been “decimated”.
The leaked electronic mail correspondence pertains to a Texas District courtroom case, which WorldVentures is defending.
The April sixth dated electronic mail reads as follows:
As you might be conscious, we at the moment are amid a world pandemic arising from the outbreak of … the illness COVID-19.
Dallas County, Collin County, and the Metropolis of McKinney all issued stay-at-home orders that require their residents to shelter in place by way of the month of April to forestall the unfold of COVID-19.
Journey is shut down for the foreseeable future.
The fallout has decimated WorldVentures’ income.
My understanding is that the corporate laid off most of its workers and has not paid its leaders since December 2019.
Our supply claims the e-mail was despatched between the attorneys of two WorldVentures distributors, who’re plaintiffs suing WorldVentures for unpaid commissions.
What we do know is the case was filed in Collin County. A search of public information reveals two potential candidates.
Christ Kent, Jake Kevorkian and Scott Ross vs. WorldVentures Advertising and marketing, LLC was filed on January eleventh, 2019.
Arbitration was ordered final Could and on the time of publication the case end result stays pending.
The opposite chance is XAS Journey & Buying and selling LTD v. WorldVentures Advertising and marketing, LLC and WorldVentures Holdings, LLC.
The e-mail does cite “et al.” after WorldVentures Advertising and marketing LLC, so except it’s a clerical error (the primary lawsuit was filed towards one defendant), that is probably the case in query.
XAS Journey & Coaching LTD v. WorldVentures Advertising and marketing, LLC et. al. was filed on November fifth, 2019.
XAS filed a Movement for Abstract Judgment on April thirteenth (earlier at this time).
This suits with the final paragraph of the leaked April sixth electronic mail, which suggests the attorneys had been discussing a plan of motion:
Placing apart the hotly disputed legal responsibility problems with this case, as a result of altering circumstances, the present and future funding of time and money into this lawsuit, we imagine…
We’ve requested our supply for clarification however as of but haven’t heard again.
In any occasion, I believe it’s vital to place into context the collapse of the journey trade with WorldVentures income woes.
WorldVentures since inception has all the time been about promoting memberships, i.e. it’s a pyramid scheme. WorldVentures’ authentic enterprise mannequin didn’t pay on journey. Journey commissions had been solely added just a few years again as pseudo-compliance.
A 2013-2014 regulatory investigation in Norway revealed 95% of WorldVentures’ income was derived from affiliate membership charges.
BehindMLM final reviewed WorldVentures in September 2019. We discovered affiliate membership income nonetheless more likely to be WorldVentures’ largest income.
Inside this context, it’s vital to make a differentiation of how the journey trade’s collapse has affected WorldVentures.
WorldVentures’ income hasn’t allegedly collapsed as a result of no one is reserving journey. It’s collapsed as a result of the journey advertising and marketing narrative isn’t remotely plausible within the present local weather.
You possibly can’t pitch a pyramid scheme hiding behind journey providers if the journey trade doesn’t exist. Easy as that.
Our supply additionally made the declare that WorldVentures’ CEO Josh Paine resigned.
I used to be capable of confirm this through Paine’s LinkedIn account:
A CEO bailing amid a income disaster isn’t significantly confidence inspiring.
Replace twenty third December 2020 – WorldVentures filed for Chapter 11 chapter on December twenty second, 2020.
Replace twenty fifth July 2022 – Josh Paine has turned up because the newly appointed CEO of IDLife.