At first, I was told by a company staffer that the only person able to talk with me was a company sales manager, who would not be available until the next week. I wanted to talk with company representatives, so last week I requested an interview with Bashor. Planet Antares, based in Culver City, Calif., is owned by Dana Bashor. I remembered that the presenter did disclose to the audience that the references were paid. The 14-year-old fine, the FTC stated, was for “charges of misrepresenting, among other things, the potential earnings of prospective distributors and using shills as references.” The federal agency describes shills as phony references, where customers may not realize that they are paid to talk about the financial success. A 1996 news release disclosed that the $1 million penalty paid by the company, then known as Antares Corp., was used by the government to return money to some customers who had complained about the company’s tactics.
Later, on the Federal Trade Commission website - ftc.gov - I found more information about the penalty the presenter mentioned. Watchdog Nation Debuts New e-Book and Multi-CD Audio Book Watchdog Nation Partners with Mike HolmesĪmerica meets Watchdog Nation/Listen to Fun Radio Interview A summary said some distributors complained that the company misled them on the profit potential and the ability to place machines in profitable locations. The first site I checked, the Better Business Bureau, gives Planet Antares a B- rating with 40 complaints in the past three years. But many large companies have had lawsuit settlements, so it may be hard to evaluate the significance of that information.Īn Internet search may shed more light. One lengthy paragraph disclosed that the company agreed to pay a total of $300,000 to former customers to settle lawsuits. There was more information about the company in its contract. She also disclosed that no one related to the company is allowed to make projections about potential income or earnings.īefore making any investment, a first step is to carefully read the contract and share its contents with trusted advisers. “We were quite upset about that,” she said.Īnother clue: When giving us names and phone numbers to call for referrals from satisfied customers, she said the clients were getting paid to be helpful in the phone calls.
The company’s offer, she said, is “the best business opportunity in the world today.” She smiled and added, “It really is all about family.”ĭuring her talk, the presenter gave fine-print clues that could point potential customers on where to research before making a final decision.Īt one point, for example, she read a disclosure statement that the company had once paid a “$1 million regulatory penalty payment.” The presenter said that Planet Antares is the “largest, most successful provider of business opportunities” in the U.S., Canada and Latin America, with more than a half-billion dollars in sales. Even though my stay ended prematurely, I learned about how we can research these businesses before investing. Yes, our love was over before it began, especially after a lawyer sent me an e-mail with the subject line: “URGENT - PUBLICATION WARNING!”įor a long time, I’ve wanted to attend a hotel seminar where you get offered the business chance of a lifetime, but I wanted one where I was invited. If he saw me again, he said he would call the police.
He walked me out the hotel front door and told the valet parking attendant that I was not allowed back in.
When I told him I write for the Star-Telegram and had been invited, he said, “Get your things.” The man assigned as my “financial consultant” rushed over and asked me who I was.