When I first
reviewed Ultimate Business World
late last year, it struck me as odd that the company’s public Chairman, Paal Aschjem, had no MLM history.

Surely he wasn’t working alone, however the question of who was really behind Ultimate Business World went unanswered.

Following an investigation by Norwegian and Estonian journalists, turns out UBW was conceived by a notorious Norwegian scammer.

Jim Wolden (right) founded The 5 Percent Community (T5PC) in 2000. Through T5PC, Wolden solicited share investment from about 50,000 Norwegian affiliates.

In 2004 T5PC collapsed, resulting in $160 million dollars worth of losses. T5PC management were sent to prison.

Five months after setting up the T5PC Ponzi scheme, Wolden sold his share of the business for an undisclosed amount. He lost no money when the company collapsed, after which he promptly fled to Spain.

Norwegian authorities did investigate Wolden’s initial involvement in T5PC but no charges were filed. Wolden appears to have gotten out of T5PC early and cut clean.

Today Wolden claims he hasn’t been back to Spain “since a few years”, mostly spending his time between Estonia, Great Britain, France and Dubai.

Wolden had also been sent to prison twice by Norwegian authorities for tax fraud.

Wanting to shed his fraudulent past, Wolden changed his name to Jim Aleksander Anderson in 2010.

When journalists Piret Reiljan from Äripäev (Estonia) and Rune Ytreberg from Dagens Næringsliv tracked Anderson down, he initially refused to answer any questions.

Eventually, under the condition he would not be photographed, Anderson sat down with the reporters.

Ultimate Business World is set up under Manhattan Securities, a shell company owned Paal Juul Aschjem (right) and Johannes Solstad.

Achjem is the public face of UBW. Following a bungled real estate deal, Solstad has been described by Norwegian media as a puppet of Anderson’s.

When queried about a €300,000 payment Manhattan Securities had paid him, Anderson claimed he had been paid as a consultant through Monaco Investment Fund.

We took Solstad’s concept and turned it into what UBW is today. We signed an agreement regarding my fee for software and consulting,“ said Anderson.

This is all. I did not want to become a partner since I have no wish to be involved in the network marketing business.

I helped them as a friend.“ The fee is, according to his words, about 300,000 euros. He stresses that this includes the base software and all costs.

After Piret Reiljan and Rune Ytreberg went public with their interview, Anderson announced he was returning his fee.

I intend to pay back everything that has been transferred from UBW to my account. I do not wish to see my name stained again.

I do not want media to use the fact that I have received money from that company against me. This is why I have decided to do that.

Whether or not Anderson paid back the 300,000 EUR is unclear, however the public statement certainly suggests he is fully aware UBW i

🤖 Quick Answer

Who is Jim Wolden and what is his connection to Ultimate Business World?
Jim Wolden is a Norwegian scammer who founded The 5 Percent Community (T5PC) in 2000, a Ponzi scheme that collapsed in 2004 causing $160 million in losses. Norwegian and Estonian journalists revealed that Wolden conceived Ultimate Business World, linking the company to his fraudulent background and criminal history in multilevel marketing schemes.

What happened to The 5 Percent Community?
The 5 Percent Community collapsed in 2004 after soliciting share investments from approximately 50,000 Norwegian affiliates. The scheme resulted in $160 million worth of financial losses, leading to criminal convictions and imprisonment of T5PC management officials involved in the operation.

How did Jim Wolden avoid losing money in the T5PC scheme?
Jim Wolden sold his share

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