MOBE FTC Shut down - What you need to know

You may or may not know by now that the online business education giant MOBE has been temporary shut down by FTC using a TRO ( temporary restraining order). In fact the TRO was issued to FTC by the judge upon first request without even hearing from the other side ( MOBE ).

All assets of MOBE are frozen along with the officers Matt Lloyd, Susan Zanghi and Russell W. Whitney.

So on June 26th there is a hearing where the judge will hear both sides, the FTC and MOBEs, if the judge decides that the FTC made the right call and agrees with them then the TRO will stay and assets of MOBE will remain frozen and business will stay halted. If the judge disagrees and says that actually he sees nothing wrong with the business then the TRO will be lifted and business will continue as normal.

So what is MOBE being sued for ?

Firstly the FTC are charging MOBE with misleading and deceptive marketing, they say you cant state that you can really earn the money you can earn in the business... even though there are so much videos out there of consultants showing their sales...including me but hey go figure!

Secondly they are being charged for not refunding in appropriate time basically a lot of people that found the business too hard to convert and complained and asked for refund are saying they did not get refund in time or found it hard to get refund sorted. In my experience refunds were handled smoothly if done right on both sides, we all know that there are people out there that are quicker to complain and hate than to actually read and follow instruction. FTC argument in this case is that MOBE stated clearly that it was easy to get a full refund on their MTTB cost if you feel the business is not for you but within a time frame.

*NOTE

The FTC has NOT charged or mentioned anything along the lines of "ponzi" or "pyramid scheme" like most businesses that get shut down by the FTC. MOBE is still a solid business that has legitimate products in its own marketplace.

Will you get a refund?

At the current moment the answer to this is simply NO, this all needs to go through the hearing, court and funds need to be raised for legal fees firstly before any refunds happen. If you recently paid for a license then you can try and reverse the charge with your bank but if you did this over a month ago then its a no im afraid. Any money you had in your E-wallet ( global E wallet) will not be accessible and you can pretty much count it as gone as this will be used to pay fees. With the receiver and all assets being frozen you need to understand that there will be a lot of legal fees that will need to be paid before any remaining funds can be used to pay for refunds, depending on what is left this may result in part refunds and not your full cost back.

Any commissions you have earned will be a part of the E-wallet which means no one got paid or will get paid until this is all sorted out. Basically once all this is settled then all funds will be used to pay the receiver, costs for the FTC bringing this forward then finally at the end of all fees anything that is left will be used to refund....depending on how long this goes on for will depend on how much funds remain. Which is why members usually try to raise money for the business and Matt Lloyd.

How can you help MOBE?

Click the following link and this will send you to the FTC blog and article that features everything about the MOBE restraining order and there is a comments section at the bottom, this is a chance for you to have your say about MOBE and your experience.

Check the article out here and have your say

The FTC will read every single one of these comments, so make sure what you are putting is case worthy and express yourself with anything you feel can help the case.

What now?

Ok so at this point I would like to reach out to those that had MOBE as their " one and only" I am truly sorry for these people as they will have truly believed that this business would carry them through for life. My advice and what I always drill into my followers and clients is that you MUST always have multiple sources of income when you work online. The fact that MOBE has now been effected just shows that the FTC is really tightening up their game and you should always brand yourself as a business and promote more than one opportunity using your brand as a platform.

Run a blog, Youtube channel, build good relationships on your social media platforms and give value every day to your followers. Your brand is what keeps you alive online and you should never put all your eggs into one basket. My brand is me "Damian Mooruth" and I go by the alias #NoNonsenseCoach I always tell it how it is and do my best to promote businesses and opportunities that have a solid background and business plan.

So thanks for reading this article and hope it has answered any questions you have, not my usual value but needed to do this. If you are a fellow MOBE consultant or affiliate please accept my sincere apologies and being a consultant with MOBE myself I know exactly what you are feeling. I want to give you some hope that there ARE good businesses out there, many many businesses in fact, MOBE was not and is not a bad business its just the FTC are getting very strict with their practice and really does depend on the consumers response to the plans.

Dont let this one thing stop you from making it online and remember to always take responsibility as a business owner that there are always risks when being involved in business, anything can happen and you should always go into any business knowing this. Always be comfortable with the investments that you make.

Please do leave your comments below, and if you would like to get in touch with me to ask any questions or if you just want advice or help on moving forward from this then you can find me on all social media under Damian Mooruth or just simply Google me !

Thanks again and see you on my next post. Please remember to like, comment and share.