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Description: Multi-level marketing (“MLM”) companies are similar in structure to pyramid schemes, but with the essential difference that an MLM is considered a legitimate business enterprise and pyramid scheme is a scheme to defraud. Pyramid schemes also have many similarities to Ponzi schemes. Definitions and red flags from government agencies of both MLMs and pyramid schemes will provide a better understanding of the differences. Understanding the difference is paramount to participants and investors. Direct sales to consumers through MLMs is common place in the U.S. and many homes have products sold by MLMs.
This presentation will provide examples of MLMs and pyramid schemes, investigations by regulatory and other government entities, and enforcement actions against MLMs and pyramid schemes and those who run them.
Presenter Bios
Nicole Donecker is a senior manager at Marcum’s Philadelphia office in the Valuation and Litigation Support Services group. She has over 20 years of experience in the accounting field providing investigative accounting and litigation support services to attorneys, insurance companies, financial institutions and governmental units. Her practice concentration is in forensic accounting.
Ms. Donecker’s engagements have included providing assistance to counsel in both civil and criminal litigation matters. Civil litigation experience includes the investigation of employee dishonesty matters, class action, bankruptcy, receivership, partnership disputes and business loss claims for plaintiffs and defendants. Criminal litigation experience includes assistance to both prosecution and defense, and financial analyses in embezzlement cases.
Ms. Donecker provides financial analysis and document examination for the purpose of developing factual information to assist counsel in the assessment of claims or defenses. Civil matters frequently require the preparation of detailed reports supporting findings and conclusions. Litigation support activities typically include financial analyses, witness interviews and preparation for and assistance at trial.
She has assisted in multiple Receiverships matters. Ms. Donecker assisted the Receiver in a consumer fraud matter that included by maintaining the books and records of the Receivership, providing financial analysis for the Receiver as needed, and supervising the review and calculation of claims in a class action matter associated with the consumer fraud victims of the Receivership.
Ms. Donecker also assisted the Receiver in the operation and wind-down of a Trust Company including the supervision of the Trust Company personnel and business operations of the corporate entity, performed services for the client account portfolio including overseeing client disbursements and account transfers, and prepared the account portfolio for sale.
 | | Practice Areas: | | Administrative Law & Regulation, Business Organizations & Contracts | | | Online Media Type: | | Audio | | | Production Date: | | 05/18/2022 | | | Level: | | Intermediate | | | Category: | | Standard | | | Duration: | | 1 Hours, 9 Minutes | | | Online Format: | | On Demand | | | Course Type: | | Public |
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| | • | Nicole McNeil Donecker, CPA - Marcum LLP |
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