Ricochet News

WorldVentures denies reports of National Consumer Commission investigation

DECEMBER 7, 2015
WorldVentures denies reports of National Consumer Commission investigation

WorldVentures on Monday said that had noted "with concern" the recent statements in the South Africa media regarding the investigation by the National Consumer Commission (NCC).

"It should be stated, as in previous communications to the media that WorldVentures has proactively communicated with the NCC and their legal teams to address the allegations of investigation but, has not received response from the NCC or legal body to date," the company said.

WorldVentures addressed the concerns below:

Is there an investigation of WorldVentures by the National Consumer Commission?

As far as we are aware the answer to this is “NO”, at the present time.

From time to time we do receive low-level and low-value complaints regarding requested refunds from members or Representatives who have resigned and these are handled on a case by case basis by the WorldVentures compliance team.  These complaints are simply forwarded to us by the NCC to resolve with the complainant and to advise the NCC of our actions—which we do on each occasion.

Is it correct that the NCC is investigating WorldVentures for operating an alleged pyramid scheme in South Africa?

Only one of the complaints we have received from the NCC has referenced a complaint that WorldVentures is operating a pyramid scheme in South Africa. The complaint in this case was the author of the article published and syndicated in South African press alleging that the NCC investigation was in process.

Beyond these we are not aware of any formal investigation that has been initiated. The press reports have quoted a member of the NCC staff but we have had no contact from that member of staff and have not seen any evidence of the origin of the quoted statement or its context.

How has WorldVentures responded to the press reports of an NCC investigation?

WorldVentures has provided all of its marketing and legal documentation and details of its operating and business model to senior counsel in South Africa and obtained a positive written legal opinion on the legality of its program as it operates in South Africa.

WorldVentures has reviewed it legal options in relation the press reports and at this time has not taken any action against the publishers as it is satisfied that there is no substance to the reports and that taking legal action may create a story when in reality there is no story to tell.