USI-Tech has been SHUT DOWN and is ceasing ALL operations in the United States and Canada. In my mind and as I warned, it was just a matter of time, but WOW, I honestly didn't think it would be this soon!
You could extrapolate from this quick action on the part of governmental authorities that they are VERY concerned about the rise of crypto- currencies and that more, much larger, intervention is just around the corner.
I actually know MANY people that were doing REALLY well with USI-Tech and I warned them that it certainly could be a scam and a Ponzi Scheme, but when one is making money it can certainly blind them to obvious signs.
Hey, I will admit that some of my friends were doing so well that I was tempted, but over the last 16 years, I have seen so many things with this amount of wild enthusiasm come and go and USI-Tech was the wildest!
I mean, come on, with big and sudden changes in the price of Bitcoin, HOW can anyone promise the type of consistent returns that USI-Tech blatantly promised? That is what made me gun shy (along with the 28 Pages of Terms and Conditions).
What is really sad is that USI-Tech is basically blaming the collective distributor's advertising practices for the shutdown, which is utterly ridiculous. As if, the authorities are actually out there monitoring all distributor's advertising...
Thousands and thousands of people lost a lot of money with USI-Tech and many are still holding out a glimmer of hope that it will all "be worked out" and that they will get all (or at least some) of their money back.
I am not really sure what the catalyst is for that "hope" is because I am not seeing it anywhere in the following notification that appeared in every participants back office:
You are active for our company in the US and/or Canada as a distributor offering our services. We were utterly dismayed to learn that a large number of our sales partners extensively advertise our services on their own websites as well as on social media in a manner which is a breach of contract as well as illegal, and which gives the appearance that our service portfolio violates both US and Canadian law. Despite the measures which we have already initiated, this behavior has even intensified in recent weeks and months. This has already resulted in actions by the respective authorities against various distributors, as well as the first preliminary injunctions in response to this advertising behavior.
The initiation of the above-mentioned official action and the court-ordered preliminary injunctions has also inevitably placed our company in a legally problematic situation. This is due to the fact that, in the event of any doubt, it cannot be ruled out that this illegal advertising by the distributors involved will cause the relevant authorities to suspect that our company itself is promoting this type of advertising activity, or at least tolerates it. This type of alarming view by the authorities would lead to unforeseeable damage for our company as well as our sales partners who observe applicable laws. We cannot subject our company or our reputable sales partners to this danger.
Consequently, we have decided to immediately discontinue our business activities as well as our sales in the US and Canada. Unfortunately, this also has a direct consequence for you as a sales partner since the cessation of our marketing operations means that we are forced to immediately terminate our contractual relationship with you.
Although we deeply regret this step both on a business and a personal level, effective immediately we hereby summarily cancel the existing contractual relationship with you as a distributor,
or, alternatively, hereby notify you of ordinary termination as of the next possible date.
In light of the above-announced termination, effective immediately you may no longer market goods, software or other services to our customers, and we will unfortunately no longer be able to accept applications for distributor agreements from third parties from you. In order not to jeopardize the termination of our contractual cooperation, for security reasons your sales partner account in our back office will also immediately be blocked.
Naturally, we will be paying out all commissions earned up to today’s date. We expect to check your remaining unpaid commissions within the next 2 weeks, and as part of this process we will also check/offset/reclaim commission claims of various distribution partners for unlawful double payments/rebuys as well as for unlawful payments due to double-accounts (multiple registrations). Once we have concluded our audit and have determined commission claims, we will remit them to you taking into account the requirements of Section 14 of our Distributor Terms and Conditions. With respect to those sales partners whose illegal advertising behavior is responsible for this current situation, we reserve the right to assert claims for damages, which we will also enforce by offsetting them against commission claims.
We would also like to point out that, as a result of the above termination, effective immediately you must destroy and/or take offline all websites, landing pages, social media sites/chat groups (e.g., Facebook, YouTube, Instagram, WhatsApp, Telegram pp.) or other online or offline advertising materials relating to direct sales of our goods, software, other services and/or our direct sales concept. At the same time, you are obligated to immediately discontinue or cancel all current advertising and/or planned advertising, promotional events or other promotional efforts for our company. In addition, you must immediately terminate or discontinue the use of any registered internet domains, social media accounts, WhatsApp groups or comparable tools, as well as delete the associated login info and/or registrations inasfar as these internet domains, social media accounts, WhatsApp Groups or similar tools include our name, trademarks, product names or other characteristics of our company.
Compliance with the foregoing is also very important with respect to your own interests, e.g. in order to still any concerns on your part with respect to warnings or other actions for misleading or unlawful advertising by third parties or any official investigation of you, given that we have terminated our direct sales in the United States and Canada.
If you currently also use our products, software or other services as a customer, we will be promptly informing you separately regarding the continuation of our customer relationship with you.
We would like to conclude by thanking you for your commitment to our company and for your sales efforts. We extremely regret these recent negative developments caused by the behavior of dubious sales partners and wish you all the best professionally and personally.
Here is how one of the USI-Tech's "founders" flounders:
See what a very disappointed rep has to say: