Familiarity breeds contempt,

... as the saying goes.

" The Uglii truth: no income, no customers, so where's all the money gone?
   DateDecember 20, 2015 - 12:15AM Nick McKenzie, Richard Baker

Calls for a thorough investigation into online search company Uglii are growing louder.
A Fairfax Media investigation has raised serious concerns about online company Uglli's claims at a shareholders meeting in November…….

In April this year Australia's corporate watchdog ASIC decided, after a preliminary investigation, not to launch an in-depth probe, despite having serious concerns. Among its reasons were that it appeared Knorr was no longer selling shares, so the potential damage to consumers was limited.
ASIC's decision prompted Knorr to claim to shareholders that the regulator had given him a "tick of approval", a claim that ASIC disputes. Small-time investors continued to buy shares. …….

As the sham continues, the Uglii tale looms large as a case not only of buyer beware but ASIC's struggle to police the dozens of smaller, unlisted corporate sharks preying on vulnerable investors. ……

In November, seven months after ASIC's preliminary assessment of his company, Knorr escalated his sales effort, launching Uglii's first "webinar" and a fresh set of outlandish claims.
Truck driver Michael Kaloudis spent his family's savings on his Uglii investment. Now, it may cost him his business and family home. Kaloudis has also failed to get answers about where his savings have gone.
"Why hasn't ASIC done anything to help us?" he asks. …….

This week, ASIC said it would investigate the information about Uglli uncovered by Fairfax Media.
As for Knorr and his Uglii team, they are still busy selling shares to the unwary. "

Read more: http://www.theage.com.au/victoria/t...money-gone-20151217-glql5t.html#ixzz3uoFLGTRb  [balding added]
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Cheers,