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:
Consumers are warned to do due diligence when dealing with Roger Hamilton and XL Results Foundation operating a pyramid scheme with the intent to scam consumers.
XL Results Foundation, a travelling pyramid scheme (Registered in Singapore Company registration: 200107729C) which has duped thousands of individuals in Asia of millions of dollars will hit New Zealand consumers on 14th, 15th and 16th October during a breakfast recruitment drive at the following venues:
Tuesday 14th October, The Langham Hotel, 83 Symonds Street. Auckland, 7.30am to 9.30am
Wednesday 15th October at Rydges Christchurch, Corner Worcester St and Oxford Terrace, 7.30am to 9.30am.
Thursday 16th October at Mercure Hotel Willis St, Wellington 7.30am to 9.30am.
Warnings against the cult, XL Results Foundation have been issued by bloggers, consumer associations in the UK, America and Australia and newspaper articles in Singapore and Australia.
XL Results Foundation has attempted to deflect questions by consumers into the company accounts by suggesting the company is the victim of a slur campaign all classic strategies of a scam protecting its interests. Public funds are being used to stave of prosecution.
During the breakfast event Roger Hamilton, Chairman of XL Results Foundation will be attempting to extract USD$12, 000 from local consumers who end up shame faced and empty handed after falling for the Ponzi scheme.
Victims of the scam are advised to contact the relevant consumer protection agencies.
We request the Office of Fair Trade investigate XL Results Foundation and its New Zealand Franchise (who is earning a commission on each consumer signed up to the XL Life membership).
The company's revenue source and the franchise are from the constant recruitment of individuals into the scam. XL also offers a commission to consumers who introduce consumers into the scheme.
Claims against XL include: misrepresentation, misleading statements, false promises, lies to make a quick sale, fraudulent business activities and charity fraud.
(The Federal Trade Commission advises that the practice of getting commissions from recruiting new members is outlawed as "pyramiding."). Pyramid Schemes are illegal worldwide).
Traveling Pyramid Scheme targets Hong Kong – Roger Hamilton and the XL Results Foundation pte ltd
Business community warned to do due diligence when dealing with XL Results Foundation pte ltd (Registered in Singapore Company registration: 200107729C) www.resultsfoundation.com operating a multimillion dollar global Get Rich Quick Investment Scam and Charity Scam.
Warnings against the cult have been issued globally by bloggers, consumer associations, consumer activists, whistle blowers and news media revelations.
Pyramid Scheme operator, Roger Hamilton, Chairman of XL Results Foundation pte ltd will hit Hong Kong from the 9th August to the 11th August at the following venues: Pacific Place Conference Centre & Harbour Plaza Resort City from 9am to 9.00pm.
During the three day brainwashing event Hamilton will attempt to extract USD $12, 000 from attendees for an XL life membership into a bogus business networking scheme that bilks would-be entrepreneurs for membership money while providing them with non-existent training and networking opportunities.
After parting with thousands of dollars, gullible consumers are left empty handed and red faced with no legal recourse.
XL Results Foundation pte ltd has been under international media scrutiny after 150 Singaporean members of the scheme demanded a refund claiming they were duped and cheated by the Chairman of the company, Confidence Trickster Roger Hamilton. Disgruntled members have been advised to lodge complaints with the Consumer Protection Agency.
Allegations against the company include XL Results Foundation’s revenue source is from the constant recruitment of members into the scam a classic pyramid scheme structure. Members allege the company is using life membership fees to block legal requests for the full detailed company accounts in a bid to protect the scam from exposure.
(The Federal Trade Commission advises that the practice of getting commissions from recruiting new members is outlawed as "pyramiding."). Pyramid Schemes are illegal worldwide.
Co-ordinator of the Asia Pacific community petition against XL Results Foundation in Singapore can be contacted on email: [protected]@rvmediaworld.com
To find out how the scam work check out this blog:
Rip Off Artist Comes to Singapore
Consumer Warning: Roger Hamilton and the travelling pyramid scheme XL Results Foundation
Sunday 29th June, 2008
Singapore Business Brunch with Roger Hamilton
Sheraton Towers Singapore
End Time: 11:30am
Networking Scam Hits Shanghai
This strays a bit from our usual Mingtiandi vein, but I just received a scam appeal to entrepreneurs that I thought might be worth warning folks about.
I received two emails inviting me to an “Exclusive business breakfast meeting by invitation only!” from something cheesily called the “XL Results Foundation.”
It seems this 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. And I thought those dodgy financial consultants were bad! You can find out how the scam works from this posting on /link removed/ and this Australian report from Perth.
In the mail, the XL Foundation describes itself as, “the world’s leading entrepreneur and social enterprise network.” But offers no grounds for this assertion. These tricksters from Singapore further assert that their ringleader will, “explain how Businessmen and Entrepreneurs can take advantage of emerging Business Opportunities in Asia-Pacific Region.” Evidently the secret to taking advantage of opportunities is tO cOmpletely Ignore all standards reGarding Capitalisation. and the grammar.
It seems this pyramid scam has already made the rounds in Singapore, Indonesia and Australia and is now hoping to take advantage of the overly optimistic crowding the streets of Shanghai.
If you get this same email as I did, just toss it in the bin and save your business cards for the next Chamber of Commerce meeting.
For further information on the scam:
Roger Hamilton and XL Results Foundation - Non disclosure of fraudulent business
Daniel Priestley, Triumphant Events, St John's House, St John's Square London. www.triumphantevents.com
In June 2007 the Australian Competition and Consumer Commission (ACCC) commenced legal action against The Triumphant Group Pty Ltd (trading as Triumphant Events) for alleged contraventions of the Trade Practices Act 1974.
The Federal Court of Australia has declared by consent that Triumphant, by engaging in the above conduct, contravened the Act. The Court also made orders by consent restraining Triumphant from engaging in the offending conduct in the future.
Until today I was a supporter of XL and Roger Hamilton. I now realize it is a fraudulent scam. In May 2007 my wife and I were were induced into purchasing an XL Cafe franchise. We were promised (and it still states on the XL website) that 24 franchises had been taken up. Actually there was a maximum of 3.
Today we requested that our money be refunded and we were quickly refused.
The Department of Fair Trade.
A Get Rich Quick Promoter, the subject of a nation wide consumer caution in the United Kingdom (www.rip-off-uk.com) and the USA (/link removed/ will be in Australia next week preying on the community. Mr Roger Hamilton, Chairman of XL Results Foundation pte ltd is on a whistle stop tour of Australia promoting and selling a USD$12,000 life membership into a purported social entrepreneur network.
XL Results Foundation (registered in the Republic of Singapore Company registration no: 200107729C) is alleged to be a convoluted pyramid scheme that baits consumers with promises of personal wealth and business opportunities but leaves consumers red faced and empty handed.
Mr Roger Hamilton based in Bali will be holding networking events as a platform to gain access to Australian consumers and hosting events on the Gold Coast 7th March 2008, Brisbane 11th March, Sydney 12th & 15th March, Melbourne 13th March and Perth 8th and 14th March 2008.
During his sales pitch, Mr Hamilton will fail to mention XL is mired in controversy with victims of the scam lodging complaints against the company world wide. Mr Hamilton and the Australian Promoter, Mr Paul Dunn, Results Net (http://www.resultsnetaustralia.com) operating out of Brisbane (Registered in New South Wales - BN [protected]) are the subject of allegations they are operating an elaborate pyramid scheme operating under the guise of a social enterprise.
A deceptive website (www.resultsfoundation.com) and smoke and mirror events have been created to give the illusion the company has a product to sell. The events are created by Mr Hamilton and offered free or heavily discounted to consumers. The sting comes afterwards when individuals are invited to a free 'extraordinary’ breakfast event where Mr Hamilton and his cohorts attempt to extract USD$12,000 from misinformed consumers.
In Singapore more than 100 members of the business community alleged they were cheated and duped by Mr Hamilton and money promised to charity was pocketed by Mr Hamilton. The parent company of XL, Competitive Edge pte ltd in Singapore is alleged to have sold consumers shares without a legal prospectus.
Members also claimed Mr Hamilton had lied and exaggerated regarding business connections and that the bulk of the network's contacts are poached from the free online platform linkedin. Members of the Asian business community allege XL is created with the specific intent to deceive and scam. As reported in the Straits Times Newspaper, 70 complaints were lodged against the company in one day. The rogue company has faced mass refunds, staff walkouts, resigned accountants and unpaid bills.
A former employee, an Australian whistle blower has been legally gagged by XL since 2005 and subjected to a malicious and long running defamation campaign including filing of false police reports against the individual in an attempt to threaten and subdue.
In public legal documents lodged in Singapore, the former employee has alleged ‘contributions promised to charity were not given and Mr Hamilton and XL is cause for concern.’ Both Mr Hamilton of XL and his Australian business partner Mr Dunn, ResultsNet Australia are in current litigation and attempting to block legal requests for full disclosure of the XL company accounts.
Allegations lodged against the company suggest it is a pyramid scheme with its revenue source derived from the recruitment of duped individuals into the scheme. Victims were induced with a commission to encourage further sign ups. The community allege the company is using public monies - life membership fees to pay its legal costs to protect the scam and is bleeding the community dry. In an attempt to deflect media and community questions, XL Results Foundation has issued an email spam warning on its website to deflect questions and issued false legal reports.
Mr Hamilton, his associate Mr Dunn have suggested the company is the victim of a slur campaign by a former employee, members of the community who were quoted in the press do not exist and that journalists from Fairfax Media and Singapore Press Holdings did not do due diligence before publishing negative articles on XL. This is text book behavior of a scam attempting to protect its interests.
The co-ordinator of the Asia Pacific petition lodged by more than 150 members against XL Results Foundation and mentioned in newspaper articles is Ms Ann Phua the head of a business women's organization in Singapore, email [protected]@rvmediaworld.com
For further information on the scheme refer to:
Victims of a pyramid scheme are advised to contact the Department of Fair Trade or relevant authorities:
Allegations of unfair conduct and misrepresentation from dozens of disgruntled clients on three continent...
Allegations of unfair conduct and misrepresentation from dozens of disgruntled clients on two continents did not stop a self-styled 'wealth consultant' peddling his wares to hundreds of Kiwis across the country last week. British-born Roger Hamilton who claims to be 'Asia's leading wealth consultant' peppered his presentations with references to connections with powerful celebrities like Oprah Winfrey and former US President Bill Clinton, while trying to extract almost $12,000 a head from those attending his seminars.
But he did not tell those at his Auckland, Wellington and Christchurch seminars last week that his XL Results Foundation is mired in controversy. The foundation touts itself as the largest entrepreneur network in Asia-Pacific and claims to connect more than one million entrepreneurs and business professionals worldwide. Life membership costs $US8900 ($11,700), an investment Hamilton, who is based in Bali, says will open doors to a wealth of opportunities. But it is understood more than 100 Singaporeans who paid up to $US8000 for life memberships over the past two years are receiving refunds after promised business networking opportunities allegedly failed to materialize.
Several legal battles are under way and complaints were filed last year with Singapore's consumer protection and commercial affairs regulators by clients alleging the foundation coaching is of poor quality and the networking services intangible. Complaints were also filed with the Fair Trading Ministry in Australia where Hamilton, 38, has also been promoting his foundation. Those complaints were investigated but no legal breaches were uncovered. Hamilton denies any wrongdoing and says the allegations are spawned by a single disgruntled former employee.
At Friday's breakfast seminar in Christchurch, attended by about 100 mainly small business owners, Hamilton continued to extol life membership benefits. Questioned by the Sunday Star-Times after the seminar, Hamilton said 'hand on heart' there was no substance to the allegations against him and his foundation, and that he was the victim of an orchestrated smear campaign. In any large organization there would be 'one or two' unhappy members, but the foundation was quadrupling in size every year which suggested the majority of members found it worthwhile and believed in it. There were about 500 New Zealand members.
Star-Times inquiries show the Commerce Commission has fielded no complaints about the foundation.