🠈 Failures 🠊
Business Failures in Utah County
I spent much of 2017 deleting failed domains. I decided to start a page to list a few of the businesses and web sites from Utah Valley that have gone to the great cloud in the sky.
- 2012-2017: Xango was a high flying MLM that sold a juice mix that included the mangosteen. The company was founded in 2002. It was marketed aggressively. They got in trouble for questionable health claims with the FDA. There were lawsuits complaining about siphoned off funds and mismanagement. The assets were sold in 2017 to Zija International in May 2017 (Wikipedia)
- 2009-2015: WakeUpNow was an MLM created by Troy Muhlestein that sold health and financial products. 95% of its distributors lost money and was closed with claims that it was a pyramid scheme.
- 2004-2009: FranklinSquires Cos. was a real estate investment firm established by Rick Koerber who often used the name "Latter Day Capitalist" and "Free Capitalist" to sell real estate seminars which encouraged people to take risky real estate investments. In 2009, he was charged with tax evasion and his company labeled a ponzi scheme. Investors lost over $100 million in the scheme.2,3.
- The story of WordPerect and Novell deserve several pages, which I will skip for now.
This list is incomplete. I started a similar list for Salt Lake County.
- Wikipedia - WakeUpNow (Drawn 5/1/2019)
- Wikipedia - Rick Koeber (Drawn 1/24/2020)
- SL Tribune - Latter Day Capitalist (Drawn 1/24/2020)
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