I'm sort of been living this story so it
I forget that not everybody in the world
knows what is going on with this but
income store was marketed themselves as
a group where if you wanted to get into
website and investing right you wanted
to own or to have a website that
produced income possibly every single
then they would go and find the site for
you and then they would manage it for
you and then split the revenue with you
the profits every month basically in
perpetuity and so they were advertising
on XM radio and they had billboards and
they're going around the country and
just soliciting investors but their
people weren't supposed to be investing
in the company they were giving income
store money on under contract and that
money should have been held separate and
then used to buy a website and then
income store would run it and so that's
how they marketed themselves and what
ended up happening and I say allegedly
because they haven't come out and said
this but they got to a point where they
had to shut down their business and the
government shut them down the SEC shut
them down because income store wasn't
able to make good on their promises to
pay the revenue out to the site partners
the people who had invested they don't
really invest in the company again they
gave their money as a deposit on the
websites that were going to be purchased
but what happened was the they got
upside down in their payments because
they guaranteed these payments and so
then new website partners were coming in
and giving income store their money to
buy a site and instead of buying the
site income store was using those funds
to pay out previous investors so they
could like make their guaranteed
payments because the guarantee was what
made them made this whole thing secure
and attractive this is you give us our
money and it doesn't matter if we have a
site for you we will pay you at least a
certain amount of money a month and it
came to my attention because somebody
who had been following my channel you
know said hey I just got into this I
just gave them a hundred thousand
dollars I think you should too you know
it's really great they guarantee
everything I'm going to start getting my
pain
and one forwards gonna be awesome and I
was like wow this is amazing you know at
the time I thought well if these guys
are legit think of all the people who I
see who come through my youtube channel
who are beginners who are really
interested in website investing but
they're afraid of making that mistake
right that unrecoverable mistake so
they're trying to hedge their risk let's
go with the company that has tons of
experience that will guarantee the
payments that they will hold the money
aside and they'll know give you a you
know approval rights over the site that
you're gonna buy and they're only gonna
buy sites from brokers and this is gonna
be safe
this is gonna be secure and then it
turns out that they were giving their
money to a company that wasn't doing
anything
that they said they were doing and you
probably haven't read the court
documents but basically the company was
using that money for it's like a slush
fund right like you were investing in
income store you know they were upside
down but they but in the last year they
gave $500,000 to charity they were you
know paying for meals and plane tickets
they were paying outside partners and
they took in what at least 91 million
dollars Wow crazy firm any quota the
number is 131 million and they owe the
majority of it to investors Wow right
now so well that was a long but that I
mean you you described it really well
and I wonder percent was never heard of
it didn't know any of it until I think
maybe a couple year videos popped up and
I watched a couple minutes cuz again I
didn't know what it was I didn't know
that they were advertising nationally or
the scope of the amount of money but in
my I mean it's basically you described a
Ponzi scheme right like that's literally
what it is like and that's what the
government is calling it
okay and in my head just it's easy for
me to sit here and say it now that it
you just told me the whole story but I'm
like no investment is like guaranteed
like that's just bananas and since I
know
like websites and the volatility is even
more insane I mean I guess they were
selling it well and they have their
master marketers and yeah it's it's a
shame especially like I mean there's no
basically probably they're like no
recourse for people that lost the
whatever ninety plus million dollars
yeah that's terrible but in my head I'm
just like yeah if anything seems like
too good to be true with like guaranteed
returns like total like I would
just not I don't trust anyone I'm so
skeptical of anything so in my head you
weren't like their market they weren't
targeting people like you who already
had experience running a website and and
you know people who already knew about
Google and about website operation I
mean we're not that target audience the
target audience is people who are on the
outside looking in the words passive the
words guaranteed
you know these were a you know married
couple you know the wife Carrie
Courtright was in politics you know
graduated from Pepperdine Business
School and featured you know the big
names on YouTube or interviewing them
and I mean they you know they basically
hit every single trust signal that they
could possibly hit to to snag people who
were like looking for things that were
passive and guaranteed and easy and
investment you know it's like the
volatility of the stock market versus
this other return you know and it's like
if you do buy and sell and websites and
website investing you'll see plenty of
content out there where people will go
in and buy a site and then will the ROI
and it will be like fifty percent
seventy percent in the first year like
there's a lot of amazing things you can
do in website investing so 15 percent
when compared to 80 percent it seems
really conservative right like oh you
know fifteen percent in a year like
that's a small amount that seems like a
reasonable amount for a company that is
one of the the fastest growing companies
and in the country that you know has
revenues of millions of dollars in a
year and I mean they just hit every
single
on the buttons like just hit it
you
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