XL Life Membership Discount
Posted January 18, 2008 Written by:Flora
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I reported on the Roger Hamilton seminar that I attended last week, and at the end I was in two minds over whether life membership of the XL Results Foundation is a scam or a legitimate business network. Hundreds of readers have visited the article that i wrote but I am still looking for clear evidence for either side of the argument. One are I was concerned about was how easily life membership of XL foundation can be transferred if a member decides it is not offering good value for money. The paperwork issued by Roger Hamilton states that membership can only be transferred after one year, however I have found a website that deals in reselling the life memberships in XL Results It appears to be authorised by the proprietors of XL Results Foundation. The good news, for anyone considering joining, is that the resale prices are much lower than the figure of $12,000 that was being charged at last week’s seminar. The agent is called eXchange at a website called lmex.net, a business operated by Qualvin Advisory Pte Ltd (Qualvin). The website is called Life member Exchange and there are currently four life memberships for sale, at prices ranging from $5400 to $6000. If I can get some solid evidence as to the value of a life membership in XL Results, I intend to buy my membership from the resale market. I will save up to $6000- that is half the quoted price!
UPDATE 5 June 2008:
After a lot of recent comments on my other posts regarding Roger Hamilton’s much-criticised Results Foundation I checked out the resale market for Life Memberships again this week. The same offers that I saw in January are still available at the Lmex website - none appear to have been sold. Nothing that I have discovered since attending the XL Business Breakfast has shown any value in signing up for a Life Membership. I feel sympathy for anyone who was swept up with enthusiasm following the powerful presentation and is now trying to sell a worthless life membership …..
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Roger Hamilton of XL Results Foundation pte ltd is under allegations in a court of law in Singapore he is operating a pyramid scheme. Mr Hamilton is using life membership funds to block legal requests for full disclosure of the XL Accounts. Why would a company under such allegations not disclose their full accounts?
In Singapore XL Results Foundation faced a community petition with more than 100 Singaporean’s claiming they were duped and cheated and money promised for charity was pocketed by Mr Hamilton.
Mr Hamilton is attempting to deflect all questions into the company operations including saying it is the actions of a disgruntled employee and that journalists did not do due diligence.
To confirm the community petition contact Ms Ann Phua in Singapore on email: anph@rvmediaworld.com who was listed in the Straits Times Newspaper helping the community.
Any individual who considers buying a life membership needs to ask the following questions:
Are life membership funds being used to pay XL Results Foundation legal costs?
Is the company under allegations it is operating a criminal business?
Where are life membership funds?
Why have promised donations to charity not been given?
Why is Mr Hamilton and his business partners not disclosing to new buyers the present allegations in Singapore and the Asia Pacific petition.
Due diligence on Roger Hamilton and the XL Results Foundation:
URGENT CONSUMER CAUTION
11th January 2008
Rip-Off Wealth guru hits UK
Allegations of unfair conduct and misrepresentation from dozens of
disgruntled clients on two continents will not stop a self-styled “wealth
consultant” peddling his wares to hundreds of Brits across the country this
weekend.
http://www.stuff.co.nz/4287069a6442.html
http://www.brisbanetimes.com.au/arti…205312469.html
http://www.businessesfromhell.com/topic.asp?TOPIC_ID=401
Venue to avoid: http://www.triumphantevents.co.uk/
Roger Hamilton, XL Results Foundation Scam
Competitive Edge pte ltd, the umbrella company of XL Results Foundation pte ltd (Registration No: 2001 07729C in Singapore) issued shares without a prospectus.
Source: Competitive Edge Life Membership Terms & Conditions
Life Members will receive the rights to 4,000 shares in Competitive Edge exercisable under the terms of the Option Agreement provided.
If you are a life member of Competitive Edge pte ltd or XL Results Foundation pte ltd you are advised to seek legal advice.
Pyramid Schemes reward participants for inducing other people to join the program. They are prohibited by the laws of the United States and laws of nations worldwide.
XL Results Foundation Pte Ltd
Join the XL Results Foundation Ambassador Program that you can sign up for, Roger will share a referal fee equal to 5% of the LM fee, for each of your guests that sign up as new LMs.
Flora,
Traveling snake oil back in town to peddle wares.
http://www.complaintsboard.com/complaints/xl-results-foundation-pte-ltd-c48278.html
Thanks for leaving your comment, Richard. I read the report on your blog with interest. Your complaint alleges that the company, XL Results Foundation, is using new membership income to fund its legal battle to avoid revealing details of its accounts and defend its case against a former employee. The story does seem to have some substance and I was interested in the way that XL has set up several sites and blogs to make its own accusations of its critics. In particular when the story reached the press in Singapore, XL simply dismissed it under the excuse that the journalists had not researched their material before publishing!
Thank you for alerting me that they are back in London again this week. Maybe I will go along and see if I can get an interview for the blog!!
Nov 25, 2006 - The Straits Times, Singapore
Unhappy with business network club, These members demand their money back. 40 out of 69 vexed members gather outside club premises
By Tanya Fong
DISGRUNTLED MEMBERS: More than 40 life members of XL Results Foundation outside its Cecil Street office yesterday, including a 13-year-old Singapore boy (second from left in the foreground) representing his doctor father. — MUGILAN RAJASEGERAN
THEY saw it as a no-risk investment - a way to expand their business contacts and perhaps make some money.
Instead, 40 individuals who bought life membership in an exclusive business networking club gathered outside the office of XL Results Foundation yesterday to demand their money back.
They are part of a group of 69 disgruntled members who claim they were duped by the company’s director, millionaire consultant and author Roger Hamilton, who they said promised them the company would buy back their membership at the same price, or at market value.
Instead, members who had bought into the club in order to sell their membership for a profit claimed they were unable to do so. The company, they said, also did not come through on its promise to help them resell their membership.
Although prices increased from US$3,200 in 2003 to about US$8,000 (S$12,400) today, 36-year-old Mr Lai Kum Loon, managing director of a car parts company, said: ‘When I wanted to transfer my membership, I was told I had to find my own buyer.’
What is more, members also said they did not get access to the large network of business connections the company promised them.
Among the crowd outside the XL Results office yesterday were five Britons, a Malaysian who came all the way from Malacca and a 13-year-old Singapore boy representing his doctor father, who was at work.
They all wanted to withdraw their membership from the four-year-old operation, which was known formerly Competitive Edge.
The total value of these memberships is about $460,000, more than twice XL Results’ reported net profit of $207,612 for the 2005-2006 financial year.
One Singaporean member, Miss Sarah Kong, complained: ‘They simply did not provide the contacts of the other members, or those from other countries.’
The club currently has more than 300 life members in Singapore, and about 900 others in 15 other countries.
Membership includes access to the company’s training and mentoring workshops in South-east Asia, subscription to its monthly XL Magazine, as well as use of its worldwide networking website.
The complaining members may be on sticky ground, however. Copies of the life membership contracts seen by The Straits Times do not state that the company will buy back life memberships or help find buyers.
Nor is there any clause that says life members have to find their own buyers.
Mr Hamilton, 38, a Briton who is a Singapore permanent resident, is currently in New Zealand on a business trip.
The millionaire, wealth consultant and author of local bestseller Wink And Grow Rich, told The Straits Times on the telephone: ‘Today’s visit was a press stunt by a group, many are not our members.
‘We are looking into this matter. Any member who has concerns can come directly to us and we will look into their request for a transfer and facilitate it.’
http://www.complaintsboard.com/complaints/xl-results-foundation-pte-ltd-c52203.html
As an XL Life Member my membership is transferrable if at any time in the future I wanted to transfer it. I don’t.
In XL I am involved in a network of incredible individuals who are positive and supportive, very unlike the comments made above.
In the past 18 months I have participated in a total of 12 full days training at different events in Sydney, Melbourne, the Gold Coast and Bali, all as part of my membership. I have found all of that training to be incredibly valuable and have made business contacts and friendships with people all over the world. I would not have been able to achieve so much in so little time without my involvement in XL.
My husband and I are now XL Results Foundation Regional Managers in Melbourne.
Regards
Jeanette
Jeanette
Are you earning a commission of life membership sales? Are you not aware this is a pyramid scheme?
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