On December 11, 2007 the US Securities and Exchange Commission filed an asset freeze against Wealth Pools International, Robert Lane, and Recruit for Wealth Inc, labeling the company "A Global Pyramid Scheme Preying on the Hispanic Community". See related news articles below for links.
Wealth Pools International website is no longer active, and listed phone number has been disconnected.
Information on the status of the Florida action may be found at Florida Court Receiver Info
Robert E Lane / President and Founder
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Wealth Pools Fined 440K
Wealth Pools has been fined $440,000 by the New Brunswick Securities Commission, the largest individual penalty ever levied.The Securities Commission ruled that Robert E. Lane, the president of the Orlando, Florida based Wealth Pools, must pay $160,000 in administrative penalties plus $2000 in associated costs. According to the Executive Director of the Securities Commission, "The penalty re...
Wealth Pools in New Brunswick Business Journal
...The New Brunswick Securities Commission recently approved a settlement agreement with the operators of a pyramid-type investment scheme that was promoted in this province in 2006-07.James Oagles, Jeannie Tracy, Ronald Fulton and their company, Wealth Pools International LLC were named in the settlement.James Oagles agreed to pay an administrative penalty of $10,000 and $2,500 toward the c...
MBSC Schedules Hearing Against Wealth Pools
NBSC to hold hearing into alleged pyramid schemeWealth Pools International hearing scheduled for Mar. 26 The New Brunswick Securities Commission has issued a notice of hearing against a company and four individuals that it alleges operated a pyramid scheme.Staff of the commission allege that beginning in early 2006, a purported multi-level marketing company named Wealth Pools Internationa...
Wealth Pools International Frozen
Wealth Pools International has been subject to an SEC and Florida Attorney General Injunction. For related info and links to the Florida Court Receiver page for Wealth Pools International please visit the Npros Directory page for Wealth Pools International....
SEC Injunction Against Wealth Pools and Robert Lane
SEC Halts Fraudulent Global Pyramid Scheme Preying On Hispanic Community Securities and Exchange Commission v. Robert E. Lane, Wealth Pools International, Inc., and Recruit for Wealth, Inc., Defendants, and T-N-T Education Company, Inc., Richard H. Lane, Mundo Trade, Inc., Renee Becker, Julia Lane, and First Fiduciary Business Trust, Relief Defendants, Civil Action No. 6:07-cv-1920-Orl-22KR...
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