Direct Selling Self-Regulation Council

DSSRC Case Decisions and Administrative Closures

Case Decisions

Case #67-2022 – Monitoring Inquiry – WorldVentures Marketing, LLC

BBB NATIONAL PROGRAMS, INC.

The Direct Selling Self-Regulatory Council

Case Number: 67-2022 – Monitoring Inquiry – WorldVentures Marketing, LLC

-DOWNLOAD CASE PDF-

 

Company Description

WorldVentures Marketing (“WorldVentures” or the “Company”), was a direct selling company founded in 2005 located in Plano Texas that offered leisure travel services to consumers.


Basis of Inquiry

The Direct Selling Self-Regulatory Council (“DSSRC”) is a national advertising self-regulation program administered by BBB National Programs. This inquiry was commenced by DSSRC pursuant to its ongoing independent monitoring of advertising and marketing claims in the direct selling industry.

Earnings Claims

This inquiry concerns earnings claims disseminated by WorldVentures and its salesforce members. The representative claims that formed the basis of this inquiry were disseminated on the Company’s website and on Facebook as set-forth below:

  • “Hello aspiring member of WorldVentures. I present to you an opportunity that will earn you financial freedom (residual income), and a vast world of travel.”

  • “Love to Travel, love making money! Want a Residual Income? Want no inventory?

    Only $25 month
    Unlimited income potential!!”

  • “Financial freedom is just the beginning.

    The cars, the trips, the life experiences we’ve created are a blessing. Yet my love has always been for the people!!
    These pictures are only a few out of the 60,000+ I’ve taken throughout the 40 countries I’ve visited, the stages I’ve spoken on and the people who’ve become not just best friend, FAMILY!”

  • “Couldn’t be more thankful for him in helping me gain financial freedom. #GETPAID”
  • “We travel the whole world and make money money through world ventures business presentation”
  • YouTube video titled “WorldVentures Webinar Featuring Top Earners” exhibiting images of luxurious vacations and travel destinations.
    The video description includes copy stating “This Super-Easy System s paying out $1000s Every Single Friday…I have been in TCP The Conversion Pros for nearly 7 years now and I have been making an Unlimited Income every week.”
  • YouTube video displaying potential earnings “$333,600/year”
  • YouTube video titled “World Ventures SUCCESS – Million Dollar Earners Vaitiare & Caleb Mervin”

 

Company’s Position

After WorldVentures failed to respond to its Notice of Inquiry, DSSRC sent a 10-Day Notice to the Company on January 18, 2022. In response, an attorney for Dream Trips International, LLC (“Dream Trips”) contacted DSSRC. The attorney explained that Dream Trips is a wholly-owned subsidiary of Verona International Holdings, Inc. (“Verona) and that WorldVentures is a wholly-owned subsidiary of Spherature Investments, LLC (“Spherature”) which filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Eastern District of Texas on December 21, 2020.[1]

Dream Trips maintained that Verona purchased certain WorldVenture assets out of bankruptcy free and clear of any claims against and liabilities of WorldVentures and maintained that neither Verona nor Spherature is responsible for any of the claims that were disseminated by WorldVentures.

Dream Trips informed DSSRC that On November 12, 2021, the US Bankruptcy Court entered an Order Approving Disclosure Statement and Confirming Final Amended Joint Plan for Spherature Investments LLC and Its Debtor Affiliates (“Order”) and provided DSSRC with a copy of the Order[2] which states that “[Verona] is not, and shall not be deemed to be, a successor, alter ego, or mere continuation of [Spherature Investments/WorldVentures]…”.[3]

Dream Trips noted that the earnings claims identified by DSSRC occurred before Verona and Dream Trips International were formed.

Dream Trips explained that it takes its compliance obligation very seriously. It informed DSSRC that Dream Trips is staffed with industry veterans with extensive compliance knowledge and training experience. Dream Trips also informed DSSRC that it is in the process of developing a compliance training video series that will be required for all sales representatives before receiving their first commission payments.

 

Administrative Closure

WorldVentures currently has no website or social media presence, ceased its business operations and is no longer exits a legal entity. Moreover, although Verona has purchased the assets of WorldVentures, the WorldVentures bankruptcy specifically provides that Verona is not a successor to WorldVentures or a continuation of the Company.

Based on the foregoing, DSSRC closed this inquiry pursuant to DSSRC’s Policies & Procedures which provide that DSSRC shall administratively close an inquiry should it determine that the inquiry is not, or is no longer, appropriate for formal investigation in this forum.

 

(Case No. 67-2022, closed on April 4, 2022)
© 2022 BBB National Programs.

 

 

[1] Verona was formed on May 28, 2021 as a special-purpose entity to purchase certain WorldVentures assets out of bankruptcy. On October 25, 2021, Verona formed DreamTrips International, LLC to serve as the operating entity for the network-marketing line of business.

[2] The bankruptcy order can be found at: https://cases.stretto.com/public/X114/10677/PLEADINGS/1067711122180000000087.pdf.

[3] More specifically, the Bankruptcy Order states: Sale Free and Clear. (a) all Acquired Assets sold by the Debtors under the Sale Transaction Documentation are transferred, conveyed, sold, and assigned to the Purchaser free and clear of all Excluded Liabilities, Liens, Claims, encumbrances, and interests (other than Assumed Liabilities) pursuant to sections 363(f), 1123(a)(5), and 1141(c) of the Bankruptcy Code; (b) notwithstanding any other provision of the Plan or this Confirmation Order, under no circumstances shall the Purchaser be liable for any Excluded Liabilities; (c) the Purchaser is not, and shall not be deemed to be, a successor, alter ego, or mere continuation of the Debtors and shall not be liable under any theory of successor or similar liability.

 

 

 

 

Administrative Closure Summaries

 

Case #67-2022 – Monitoring Inquiry – WorldVentures Marketing, LLC

BBB NATIONAL PROGRAMS, INC.

The Direct Selling Self-Regulatory Council

Case Number: 67-2022 – Monitoring Inquiry – WorldVentures Marketing, LLC

-DOWNLOAD CASE PDF-

 

Company Description

WorldVentures Marketing (“WorldVentures” or the “Company”), was a direct selling company founded in 2005 located in Plano Texas that offered leisure travel services to consumers.


Basis of Inquiry

The Direct Selling Self-Regulatory Council (“DSSRC”) is a national advertising self-regulation program administered by BBB National Programs. This inquiry was commenced by DSSRC pursuant to its ongoing independent monitoring of advertising and marketing claims in the direct selling industry.

Earnings Claims

This inquiry concerns earnings claims disseminated by WorldVentures and its salesforce members. The representative claims that formed the basis of this inquiry were disseminated on the Company’s website and on Facebook as set-forth below:

  • “Hello aspiring member of WorldVentures. I present to you an opportunity that will earn you financial freedom (residual income), and a vast world of travel.”

  • “Love to Travel, love making money! Want a Residual Income? Want no inventory?

    Only $25 month
    Unlimited income potential!!”

  • “Financial freedom is just the beginning.

    The cars, the trips, the life experiences we’ve created are a blessing. Yet my love has always been for the people!!
    These pictures are only a few out of the 60,000+ I’ve taken throughout the 40 countries I’ve visited, the stages I’ve spoken on and the people who’ve become not just best friend, FAMILY!”

  • “Couldn’t be more thankful for him in helping me gain financial freedom. #GETPAID”
  • “We travel the whole world and make money money through world ventures business presentation”
  • YouTube video titled “WorldVentures Webinar Featuring Top Earners” exhibiting images of luxurious vacations and travel destinations.
    The video description includes copy stating “This Super-Easy System s paying out $1000s Every Single Friday…I have been in TCP The Conversion Pros for nearly 7 years now and I have been making an Unlimited Income every week.”
  • YouTube video displaying potential earnings “$333,600/year”
  • YouTube video titled “World Ventures SUCCESS – Million Dollar Earners Vaitiare & Caleb Mervin”

 

Company’s Position

After WorldVentures failed to respond to its Notice of Inquiry, DSSRC sent a 10-Day Notice to the Company on January 18, 2022. In response, an attorney for Dream Trips International, LLC (“Dream Trips”) contacted DSSRC. The attorney explained that Dream Trips is a wholly-owned subsidiary of Verona International Holdings, Inc. (“Verona) and that WorldVentures is a wholly-owned subsidiary of Spherature Investments, LLC (“Spherature”) which filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Eastern District of Texas on December 21, 2020.[1]

Dream Trips maintained that Verona purchased certain WorldVenture assets out of bankruptcy free and clear of any claims against and liabilities of WorldVentures and maintained that neither Verona nor Spherature is responsible for any of the claims that were disseminated by WorldVentures.

Dream Trips informed DSSRC that On November 12, 2021, the US Bankruptcy Court entered an Order Approving Disclosure Statement and Confirming Final Amended Joint Plan for Spherature Investments LLC and Its Debtor Affiliates (“Order”) and provided DSSRC with a copy of the Order[2] which states that “[Verona] is not, and shall not be deemed to be, a successor, alter ego, or mere continuation of [Spherature Investments/WorldVentures]…”.[3]

Dream Trips noted that the earnings claims identified by DSSRC occurred before Verona and Dream Trips International were formed.

Dream Trips explained that it takes its compliance obligation very seriously. It informed DSSRC that Dream Trips is staffed with industry veterans with extensive compliance knowledge and training experience. Dream Trips also informed DSSRC that it is in the process of developing a compliance training video series that will be required for all sales representatives before receiving their first commission payments.

 

Administrative Closure

WorldVentures currently has no website or social media presence, ceased its business operations and is no longer exits a legal entity. Moreover, although Verona has purchased the assets of WorldVentures, the WorldVentures bankruptcy specifically provides that Verona is not a successor to WorldVentures or a continuation of the Company.

Based on the foregoing, DSSRC closed this inquiry pursuant to DSSRC’s Policies & Procedures which provide that DSSRC shall administratively close an inquiry should it determine that the inquiry is not, or is no longer, appropriate for formal investigation in this forum.

 

(Case No. 67-2022, closed on April 4, 2022)
© 2022 BBB National Programs.

 

 

[1] Verona was formed on May 28, 2021 as a special-purpose entity to purchase certain WorldVentures assets out of bankruptcy. On October 25, 2021, Verona formed DreamTrips International, LLC to serve as the operating entity for the network-marketing line of business.

[2] The bankruptcy order can be found at: https://cases.stretto.com/public/X114/10677/PLEADINGS/1067711122180000000087.pdf.

[3] More specifically, the Bankruptcy Order states: Sale Free and Clear. (a) all Acquired Assets sold by the Debtors under the Sale Transaction Documentation are transferred, conveyed, sold, and assigned to the Purchaser free and clear of all Excluded Liabilities, Liens, Claims, encumbrances, and interests (other than Assumed Liabilities) pursuant to sections 363(f), 1123(a)(5), and 1141(c) of the Bankruptcy Code; (b) notwithstanding any other provision of the Plan or this Confirmation Order, under no circumstances shall the Purchaser be liable for any Excluded Liabilities; (c) the Purchaser is not, and shall not be deemed to be, a successor, alter ego, or mere continuation of the Debtors and shall not be liable under any theory of successor or similar liability.

Case #67-2022 – Monitoring Inquiry – WorldVentures Marketing, LLC

BBB NATIONAL PROGRAMS, INC.

The Direct Selling Self-Regulatory Council

Case Number: 67-2022 – Monitoring Inquiry – WorldVentures Marketing, LLC

-DOWNLOAD CASE PDF-

 

Company Description

WorldVentures Marketing (“WorldVentures” or the “Company”), was a direct selling company founded in 2005 located in Plano Texas that offered leisure travel services to consumers.


Basis of Inquiry

The Direct Selling Self-Regulatory Council (“DSSRC”) is a national advertising self-regulation program administered by BBB National Programs. This inquiry was commenced by DSSRC pursuant to its ongoing independent monitoring of advertising and marketing claims in the direct selling industry.

Earnings Claims

This inquiry concerns earnings claims disseminated by WorldVentures and its salesforce members. The representative claims that formed the basis of this inquiry were disseminated on the Company’s website and on Facebook as set-forth below:

  • “Hello aspiring member of WorldVentures. I present to you an opportunity that will earn you financial freedom (residual income), and a vast world of travel.”

  • “Love to Travel, love making money! Want a Residual Income? Want no inventory?

    Only $25 month
    Unlimited income potential!!”

  • “Financial freedom is just the beginning.

    The cars, the trips, the life experiences we’ve created are a blessing. Yet my love has always been for the people!!
    These pictures are only a few out of the 60,000+ I’ve taken throughout the 40 countries I’ve visited, the stages I’ve spoken on and the people who’ve become not just best friend, FAMILY!”

  • “Couldn’t be more thankful for him in helping me gain financial freedom. #GETPAID”
  • “We travel the whole world and make money money through world ventures business presentation”
  • YouTube video titled “WorldVentures Webinar Featuring Top Earners” exhibiting images of luxurious vacations and travel destinations.
    The video description includes copy stating “This Super-Easy System s paying out $1000s Every Single Friday…I have been in TCP The Conversion Pros for nearly 7 years now and I have been making an Unlimited Income every week.”
  • YouTube video displaying potential earnings “$333,600/year”
  • YouTube video titled “World Ventures SUCCESS – Million Dollar Earners Vaitiare & Caleb Mervin”

 

Company’s Position

After WorldVentures failed to respond to its Notice of Inquiry, DSSRC sent a 10-Day Notice to the Company on January 18, 2022. In response, an attorney for Dream Trips International, LLC (“Dream Trips”) contacted DSSRC. The attorney explained that Dream Trips is a wholly-owned subsidiary of Verona International Holdings, Inc. (“Verona) and that WorldVentures is a wholly-owned subsidiary of Spherature Investments, LLC (“Spherature”) which filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Eastern District of Texas on December 21, 2020.[1]

Dream Trips maintained that Verona purchased certain WorldVenture assets out of bankruptcy free and clear of any claims against and liabilities of WorldVentures and maintained that neither Verona nor Spherature is responsible for any of the claims that were disseminated by WorldVentures.

Dream Trips informed DSSRC that On November 12, 2021, the US Bankruptcy Court entered an Order Approving Disclosure Statement and Confirming Final Amended Joint Plan for Spherature Investments LLC and Its Debtor Affiliates (“Order”) and provided DSSRC with a copy of the Order[2] which states that “[Verona] is not, and shall not be deemed to be, a successor, alter ego, or mere continuation of [Spherature Investments/WorldVentures]…”.[3]

Dream Trips noted that the earnings claims identified by DSSRC occurred before Verona and Dream Trips International were formed.

Dream Trips explained that it takes its compliance obligation very seriously. It informed DSSRC that Dream Trips is staffed with industry veterans with extensive compliance knowledge and training experience. Dream Trips also informed DSSRC that it is in the process of developing a compliance training video series that will be required for all sales representatives before receiving their first commission payments.

 

Administrative Closure

WorldVentures currently has no website or social media presence, ceased its business operations and is no longer exits a legal entity. Moreover, although Verona has purchased the assets of WorldVentures, the WorldVentures bankruptcy specifically provides that Verona is not a successor to WorldVentures or a continuation of the Company.

Based on the foregoing, DSSRC closed this inquiry pursuant to DSSRC’s Policies & Procedures which provide that DSSRC shall administratively close an inquiry should it determine that the inquiry is not, or is no longer, appropriate for formal investigation in this forum.

 

(Case No. 67-2022, closed on April 4, 2022)
© 2022 BBB National Programs.

 

 

[1] Verona was formed on May 28, 2021 as a special-purpose entity to purchase certain WorldVentures assets out of bankruptcy. On October 25, 2021, Verona formed DreamTrips International, LLC to serve as the operating entity for the network-marketing line of business.

[2] The bankruptcy order can be found at: https://cases.stretto.com/public/X114/10677/PLEADINGS/1067711122180000000087.pdf.

[3] More specifically, the Bankruptcy Order states: Sale Free and Clear. (a) all Acquired Assets sold by the Debtors under the Sale Transaction Documentation are transferred, conveyed, sold, and assigned to the Purchaser free and clear of all Excluded Liabilities, Liens, Claims, encumbrances, and interests (other than Assumed Liabilities) pursuant to sections 363(f), 1123(a)(5), and 1141(c) of the Bankruptcy Code; (b) notwithstanding any other provision of the Plan or this Confirmation Order, under no circumstances shall the Purchaser be liable for any Excluded Liabilities; (c) the Purchaser is not, and shall not be deemed to be, a successor, alter ego, or mere continuation of the Debtors and shall not be liable under any theory of successor or similar liability.