Keith Laggos - Scamming the S.E.C.

Keith Laggos
MoneyLosersMonthly.com
Network Marketing Business Journal
Scamming the S.E.C.

Still Up to the Same Old Tricks...

WWSN Note: Keith Laggos, publisher of the NMBJ.com Network Marketing Business Journal (formerly known as "Money Makers Monthly"), was recently convicted by the S.E.C. for violations of the Securities Exchange Act of 1933. One of the charges included:

"...Laggos' Money Maker's Monthly published a laudatory article concerning TeleWrx in its July 2002 issue. The complaint alleges that Laggos was compensated by Converge and/or TeleWrx, in both stock and cash, for issuing the above-mentioned press releases and article."

S.E.C. Charges Against Keith Laggos

This has been Laggos' modus operandi all along - he represents his publication as a leading news and information source for the network marketing industry. Then he sells laudatory stories and reports under the headings of "Company of the Month", "Product of the Month", and so on, to anyone willing to pony up the cash. An earlier incident involving $25,000 is described in details here:

The Money Maker's Monthly Client List - A Police Line-up at the FTC

As you can see from the recently received e-mail printed below, the S.E.C. doesn't scare Keith Laggos for a second and he is still up to his same old tricks. Anyone got a phone number of a contact down at the S.E.C.?

Selling Influence on the Internet

Hello,

My name is [name withheld], I am the Vice President of [name withheld], an online MLM [service] provider. Our company (not knowing the NMBJ's reputation) recently inquired about advertising in the NMBJ. A Randy Duncan (with whom I was speaking on the phone) told me that the President of the magazine would like to meet with myself and my partners to discuss a strategic partnership. He wanted to offer integrated marketing solutions to his advertiser and have us generate him leads and provide an Autoresponder for them as well, all in exchange for $2000 a month in advertising. We agreed to meet with him here in our home state, as he was already coming here for vacation.

That's when it all went sour. Keith Laggos was trying to sell us a LAUDATORY EDITORIAL called provider of the month for $10,000, BEFORE he would even allow us to sign any strategic partnership agreement. He needed to "build up our reputation before risking his". We sat out our meeting with our jaws clenched, and went home to do some research. The first thing I found was your site, followed by an S.E.C. report on Keith Laggos' PRIOR conviction, which detailed his being enjoined from ever violating Section 17(b) of the Securities act of 1933 again. Is that not what he was trying to do? What is this guy thinking?