Wealth Generators launched in 2013 and are based out of Utah in the US.

The company operates in the financial services MLM niche, with a specific focus on stock market trading.

Recently the Wealth Generators has caught the attention of Colombia’s Superintendencia Financiera regulatory body, who claim it’s a pyramid scheme.
Superintendencia Financiera made the claim in a December 16th warning against the company.

According to Superintendencia Financiera, Wealth Generators’ business model ‘
has features typical (of a) pyramid scheme
‘.

The Superintendency was able to verify that the mentioned company offers to pay “benefits” represented in money, to affiliates that fulfill the requirement of recruiting more people who contribute their monetary resources, which is the only source of money that sustains the pyramid.

The success (of Wealth Generators) depends on the recruitment of more affiliates who contribute money to keep the pyramid growing in geometric progression.

Superintendencia Financiera reiterate that pyramid schemes are illegal in Colombia, with participants potentially opening themselves up to criminal liability:

The Financial Superintendence calls on the public not to fall into businesses that promise high returns or exorbitant income, as they run the risk of becoming involved in illegal activity and participate in pyramid schemes.

What prompted Superintendencia Financiera’s warning is unclear. At the time of publication Colombia does not appear to be a major source of traffic to the Wealth Generators website.

BehindMLM
reviewed Wealth Generators
back in 2014. I concluded the company operated in the grey with respect to its trading advice product.

If Wealth Generators affiliates were the primary purchasers of the subscription product, there was also the potential for autoship pyramid recruitment. This seems to be what Superintendencia Financiera have latched on to.

🤖 Quick Answer

What warning did Colombia's financial regulator issue against Wealth Generators?
Colombia's Superintendencia Financiera issued a December 16th warning against Wealth Generators, classifying its business model as a pyramid scheme. The regulator found that the company offers monetary benefits to affiliates primarily for recruiting new members who contribute funds, making recruitment the sole revenue source.

When was Wealth Generators established and where is it headquartered?
Wealth Generators was launched in 2013 and operates from Utah in the United States. The company functions within the financial services MLM sector, specializing in stock market trading education and services.

🔗 Related Articles

- Lifestyle Marketing Group Review 2.0: Matrix points pyramid
- Philippines to issue MLM companies with seals of legitimacy
- Platinum World Team Build Review: $100 in, $166,800 out Ponzi cycler
- Pluggle Review: Trademark infringement with pyramid recruitment
- BitCloud Academy Review: Another BitCoin pyramid scheme?