One of the members of MLM Rock Stars gave me a call today asking me if I had heard anything about Mike Dillard. I hadn’t, so they forwarded an article to me which indicates that Mike Dillard’s ‘The Elevation Group’ was being investigated as part of a larger investigation which involves an Australian firm (ProphetMax) headed by a gentleman named Senen Pousa.
To make a long story short, Mike Dillard and the Elevation Group were apparently receiving referral fees (what we call in this industry “Affiliate Checks”) for sending new clients to Pousa. Pousa was making bold claims about investment return, and is now apparently under investigation.
You can read a couple of other articles here, and here, along with the official court documents here.
What’s my take on this? Here’s the email I sent over to my concerned member at MLM Rock Stars:
Interesting. Mike Dillard “retired” from Magnetic Sponsoring a couple of years ago and The Elevation Group is his newest venture.
It’s completely different from Magnetic Sponsoring – MS is tools and training for network marketers
The Elevation Group is more of an “investment advice” and education company.
Magnetic Sponsoring is still a great product and his advice is sound. Would I pick stocks based on Mike’s advice? Probably not.
Thanks for bringing this to my attention… I’ll keep my eyes open and see what develops.
Anytime you get involved in something that could be construed as an “investment” you run the risk of getting in trouble with the feds. Honestly, I can’t really tell you anything about the elevation group, because I never investigated it in any detail (although I did notice they advertise a lot over on glenbeck.com).
I know a lot of marketers lined up to promote Mike’s newest venture because they know he’s had great success in our industry. That’s why it’s very important to make sure you understand the programs that you are promoting to your list.
I am giving Mike the benefit of the doubt. I am going to assume that he was a victim here like many other people. Stay tuned for more updates on Mike Dillard and the Elevation Group.
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