I was skeptical at first and I did look into that as well just to be on the safe side. Did alot of research just to make sure of it before taking the next critical step. However if those allegations made were true, why is the company still functional and continuing their business. Either way after going to Winlifetime and attending the weekly Saturday seminar, which was free, I asked alot of questions on their methods used to make money. Pretty much all of them were answered crystal clear and it was legit. By the looks of it, Either way those who are still in doubt have really misunderstood on alot of things about WInlifetime.canada6999 wrote: ↑May 9th, 2017 11:33 amI hear their advertisement on 101.3 Fm on a daily basis and so one day i decided the check them out and googled Welcome place and got lot of information.
http://www.osc.gov.on.ca/documents/en/P ... -place.pdf
http://www.csasanctions.ca/CSA_AnnualRe ... _Final.pdf
The Welcome Place Inc. case in Ontario involved a fraudulent investment scheme,
unregistered trading and illegal distribution. Welcome Place Inc. and Daniel
Maxsood, the directing mind of the investment scheme, misled investors about
the use of investor funds. The investment scheme involved using the approximate
$5.3 million raised from approximately 90 investors to repay other investors and
to pay for personal expenditures. As part of the OSC investigation, staff froze bank
accounts containing approximately $550,000 in the names of Daniel Maxsood,
Welcome Place Inc. and Tao Zhang. Assets frozen also included the home belonging
to Maxsood and Zhang, due to evidence that investor funds were used to pay
the mortgage on the property. In approving the settlement agreement, the OSC
ordered payment of a total of $3.2 million in disgorgement and a total of $240,000
in administrative penalties and costs. The OSC also ordered a permanent ban on
trading in any securities of Welcome Place Inc. and a 10-year ban on any trading by
Welcome Place Inc. or Maxsood. Maxsood was prohibited from acting as a director
or officer for 10 years. In addition, trading, director and officer bans were imposed
on Talat Ashraf, the marketing manager of Welcome Place, for five years.
I'm now sure about you guys but I already started to invest in it few days ago.