YTB Second Lawsuit - Is The Pyramid Falling
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Former YTB Referring Travel Agents Fight Back
Another class-action lawsuit against YTB (Your Travel Business) has been filed in Illinois, by former referring travel agents of YTB on Friday, August 11. They are seeking more than $100 million in damages for themselves and others who recently invested in programs by YTB.
Their claim of a YTB pyramid scheme operation resulted in them suffering financial losses. This is a very serious charge. But will there be the proof needed to back up their alligations?
The trouble for YTB first started on August 4, when The State Of California filed a lawsuit against them, charging that YTB operates an illegal pyramid. This was followed up later in the week when reports surfaced that The Better Business Bureau of Illinois had been investigating YTB for similar complaints from former YTB agents.
Will YTB be able to bounce back from all this negative publicity...or will it spark even more lawsuits from former YTB agents? Is this also the reason that YTB withdrew their application to be listed on the American Stock Exchange? The industry will be closely following every move YTB makes in the next few months.
Larry Buhrandt
TraVerus - Certified Travel Agent
615-824-9772
CommentsLoading...
Unfortunately the "crap" as you call it, is true. Do your homework and research it. Your "so many Representatives" have been cut in half this past year. But your company is still holding on, and making changes to get back on your feet. And I do wish you the best of luck. (You may want to do a quick YTB search on the Travel Weekly website...you may be surprised by what you read.)
How old is this article??? The last time August 11 fell on a Friday . . . was 2006! & it won't happen again until 2018. Typo or what? I hate when posts do not have dates. Makes me question everything if you can't even get simply hisotrical fact rights. What is the status of this company today in 2011?
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hp7771 21 months ago
I don't believe this crap for 1 split second. If California filed a lawsuit against YTB, then why we have so many Representatives? I am a Rep myself and I don't have any trouble with my business!