Treasure Island Reality Show Accused of Securities Fraud
Treasure Island has come under scrutiny for its lack of transparency regarding ownership and executive information on its website. The company operates from three known website domains, with the most recent one being registered in October 2023. Despite the three domains, ownership information is not clearly stated on their website, leaving potential investors in the dark about who is running the show.
Connect Social LLC, headed by Brett Nicholson, is listed as an owner of one of the registered domains associated with Treasure Island. Nicholson is described as the owner and Chief Operating Officer of Treasure Island Productions LLC on his LinkedIn profile. Interestingly, Nicholson’s background appears to be in real estate and building supplies, with no prior involvement in MLM companies. This lack of disclosure about Nicholson’s ownership of Treasure Island on the company website raises questions about the company’s intentions and credibility for potential investors.
When it comes to Treasure Island’s products, the company falls short, as it offers no tangible products or services for affiliates to market. Instead, affiliates are encouraged to invest in $100 units with the promise of a minimum 50% return within the first 12 months. Additionally, affiliates are pitched on the idea of earning passive residual income through 30 different products that will supposedly pay them for years to come. However, the primary source of income for affiliates comes from recruiting new investors into the company, rather than selling actual products or services.
Treasure Island’s compensation plan is based on a unilevel structure, where affiliates earn bonuses based on the number of $100 unit investments made across their downline. With no limit to the depth of an affiliate’s team, the potential for earning bonuses seems promising. Despite the promise of weekly payouts and lucrative returns, the lack of transparency and reliance on recruitment raise red flags about the company’s legitimacy and sustainability.
To join Treasure Island, affiliates are required to make a minimum $100 investment, with full participation in the income opportunity linked to this initial investment. However, the company fails to provide concrete details about the nature of these investments, other than vague promises of future returns. This lack of clarity and specificity about the investment structure raises concerns about the legitimacy of Treasure Island’s operations and whether it may be operating a fraudulent scheme.
In conclusion, Treasure Island’s marketing tactics and investment scheme raise serious doubts about the company’s intentions and legality. By framing their offering as a “loan opportunity,” Treasure Island appears to be engaging in an unregistered securities offering, which is a form of securities fraud. The reliance on recruitment and investor funds to sustain the business model also points to pyramid scheme characteristics. Without proper registration with the Securities and Exchange Commission and clear disclosure of ownership and operations, Treasure Island’s business practices remain highly questionable and potentially illegal. Investors should approach Treasure Island with caution and skepticism due to the lack of transparency and potential financial risks involved.
