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It appears that the good folks at BurnLounge, who are in the midst of a heavy-hitting Federal Trade Commission lawsuit, have decided to update their business model.
The company claims the new model will “drive community expansion and greater rewards per sale, benefiting retailers, artists, and partners.”
Most notably, it will “eliminate the network marketing element of its business.” Sounds to us like they’re saying “we know we’re a pyramid scheme, we know we’re in deep trouble, so let’s start covering our scheming little behinds.”
This move is a GIANT red flag that the BurnLounge execs KNOW they are going down. And they are brazen enough to think no one would notice?
The company intends to focus on its free service and will deliver increased rewards per sale.
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With the new model, BurnLounge retailers will earn even greater compensation per sale in a more traditional affiliate marketing structure. [BurnLounge Press Release]
Oh, wow, what a coincidence. While they’re mixing things up, they may want to change their catch phrase from “Get In” to “Not As Much Of A Scam As Before.”
NOTE: This comes less than a week after the company’s CEO resigned.
How do people get caught up in schemes like this? Don’t they recognize the hollowness of the talking points and quasi-business lingo-mumbo jumbo as soon as these scammers open their pie-holes?
Come on Columbia…lets be a little smarter than this next time. Geez. Didn’t your daddy tell you that if it sounds too good to be true, it probably is?
I guess the dollar signs just tend to blind some otherwise intelligent and well-intended people. Its still hard for me to fathom.
I went to one of the initial meetings of this scheme at a big house off of Trenholm road and Rob and the other guy that started it (that owned night clubs before he started BL) drew a big pyramid on a dry erase board and said “this is not a pyramid scheme, and is 100 percent legal.” My buddy and I looked at each other and laughed and were like these people are full of it. I of course did not invest, but half the people there were drooling over the fact that they could do basically nothing and make money.
What has happened since June 28? Does anyone have a clue why there is no information on the net about what has happened since BurnLounge announced the deal on june 28? Why havent the FTC confirmed the deal? Please, someone, give an update!