Do anybody have experience with Global Equity Lending or World Leadership Group?

Question

I've joined WLG for 1 week and I paid $355 to join the company, the GEL (Global Equity Lending) and some online loans courses. I still doubt about how this system works. My up line person said I have to recruit more people to my team, look for loans and close it to make money. Until now, I see I do not learn anything from them except some courses online. They always say I should recruit more people while I do not know anything. How can I recruit my relations when I do not know what to teach them? Until now, I see the company just want to take more money from employees rather than teach them how to make money. If anyone have experiences about this company, please reply me honestly as you can.
Thank you.

Answer 1

This sounds alot like a MLM or a pyramid scheme.

The term upline is a pretty usual term for those.

Of course, asking you to recruit more people is key to the whole thing.

All MLMs need to have people join and fail and lose their money. It is the nature of the beast. This can be shown mathmatically.

One person starts and recruits 5 people and then stops recruiting (In real life, they and everybody else would need to constantly stay recruiting so 5 is a low number).

Those 5 recruit 5 and then stop. Each person recruits 5 and then stops. After 10 years of this you would have 9,765,625
people in the company. Another 10 years would have 95,367,431,640,625 people in the company. That is about 14,000 times larger than the population of the planet. The only way a MLM can keep going is to have people join. Put in their money and then fail. That money keeps the rest of the people happy. This has to start at an early date in the process. Maybe just a few thousand.

Read the recruitment documentation carefully. Look at all of the fine print. You will probably find a disclaimer about the actual rate of success in the company. I saw one for Amway one time and their rate was worse than the odds of winning the lottery.

Beware, one of the things that they will want you to do is buy their "educational" tapes, CDs, DVDs, books, and other things. These are usually over priced and are designed to suck even more money from the person before they quit the company. You will be told that you cannot succeed without them. "You want to be a winner right?" Phrases like that are used to lure you into buying them.

Usually, these "educational" materials come in levels. Level 1, level 2, and so on and so forth. Once again, it is designed to lure you to give more money. You may buy level one thinking that maybe there is something useful for you in there. Ok, nothing in there, but level 2 must have something because it is more expensive and it is level 2. Level 1 must have been the beginner stuff. Level 2 proves to be disappointing as well. But there is still hope for level 3. Abandon all hope ye who enter here!


Here are some links about Global Equity Lending

http://www.ripoffreport.com/reports/ripoff121577.htm

http://www.corporatenarc.com/WLGScam.php

http://en.wikipedia.org/wiki/World_Financial_Group

http://en.wikipedia.org/wiki/Multi-level_marketing

http://en.wikipedia.org/wiki/Pyramid_scheme