Saturday, March 31, 2012

Torres v SGE Management LLC

Update:  September 23, 2011, Torres files SECOND AMENDED ORIGINAL CLASS ACTION COMPLAINT



Amended Complaint filed in 06/2009 reads in part:

The Defendants have created, operated and maintained a pyramid and endless chain scheme. Specifically, the defendants induced Torres, Robison and others to invest in the "Ignite Services Program" ("Services Program") for $329.00 and purchase an "Ignite Homesite" web page for $29.00 a month for the right to recruit new individuals to do the same with false promises of enormous profits.

As is expected in any pyramid scheme, those at the very top make more and more money. For example, between July 2005 and June 2006, the highest paid Executive Director received $819,089.50. By July 2007 to June 2008, the highest paid Executive Director received $2,148,615.50, an increase of 262%. In contrast, between July 2005 and June 2006, the average Qualified Director received $460.31. By July 2007 to June 2008, the average Qualified Director received only $174.06. This is a decrease of 264%. Therefore, while those on the bottom of the Pyramid are progressively receiving less and less, those at the top, including the Presidential and Executive Defendants, are making excessive sums from the illegal Pyramid.


Amended Complaint filed in 09/2011