Ultra Life Club Pyramid Scheme Sued
A company called Ultra Life Club was running travel based vacation packages to various locations. The scam was exposed thru a CBC marketplace investigation of the ultra life club pyramid scheme.
The businessman, Alan Kippax was behind it and He has lawyers and ways to protect his money as this wasn’t the first time around for him. Yet even so, some people said lets stop it now before later.
The actions of people and their efforts to help others lead to the results in the court room which favored him and all the victims of this scheme and the judged compensation awarded was $6.5 million dollars.
People were fooled to buying packages at prices that were over priced to begin with, and in turn try to sell the same packages for more money. So basically buy this, buy that and now that you invested so much, bring more people in.
How did the ultra life club pyramid scheme worked ?
Resident Mark Cuzzeto who started the law suit to help 2000 victims from this scheme had this to say :
People attending meetings held by Kippax were asked to pay a $3,200 entrance fee to buy vacation packages worth $9,000 they could then sell to others.
Burnaby resident Mark Cuzzeto launched a class action lawsuit after he lost $3,200 in a pyramid scheme run by Alan Kippax, winning $6.5M for all of Kippax’s victims. (CBC)