Matt Lloyd’s MOBE scam was declared fraudulent and shut down June 5th 2018, by the FTC. My Own Business Education (MOBE) was started initially in 2011, according to Matt Lloyd’s website. They described themselves as a business training company,offering a large selection of business training products.These included “online training products, services, live training seminars and other products, to help you along your business journey” Their seminar ads promoted “freedom from the 9 to 5 rat race” and potential income from $5,000 to $10,000 per month. I posted this for my readers who asked about Matt Lloyd’s MOBE scam.
Matt Lloyd’s Mobe – My Online Business Education
- Name – My Own Business Education (MOBE LTD)
- Website – MOBE.com (now shut down)
- Price – $49 + 19.95/mly + upsells (up to $29,997)
- Owners – Matt Lloyd
- Location – Malaysia
- Quality – MLM program – Very Expensive Affiliate Program for MOBE
- Overall Rank – Zero– Bilked people out of Millions of dollars.
- Verdict – Shut Down by FTC
What Was Matt Lloyd’s MOBE Selling?
MOBE was selling a product that would produce $5,000 to $10,000 per month. That is a very substantial claim. In fact, you could call it a great product! It would allow anyone the opportunity to make $120,000 a year? But, why sell it for $49 + $20 bucks a month?
This “product” was actually a multi-step Affiliate scheme that forced people to purchase more and more expensive levels, in order to promote higher cost MOBE “products”.
Here is a breakdown of Matt Lloyds MOBE scam and how it worked.
MOBE Product Levels – A Typical MLM Marketing System
The Affiliate level cost $49
- Plus $19.95 per month membership (The basic level)
- Anyone you recruited would start here. As they earned commissions, you got a share of their commissions.
- Must purchase the higher levels in MOBE to qualify for commissions from any recruits who purchased higher levels.
- Forced people to buy more expensive products, just to be able to receive commissions for selling it.
- No fee for a higher level, if you “qualify” by selling 5 products at the higher level.
Silver Master Class – $2497
- Plus $27 per month for the (Inner circle membership)
- $216 full year payment-(4 month discount)
- Formerly MLR -MOBE License Rights – Allowed members to receive commissions on sales from others MLR (Silver Master Class) and Affiliate level below. Silver Master Class also included training. This training basically gave sales training for selling the MOBE System.
- MOBE Licensee Kit
- My Online Business Empire -8 hrs
- Funded Proposal – 17 hrs
- Affiliate Bonus – 11 hrs
- OPT formula – 14 hrs
- Extra modules -constant updates
- The Inner Circle also gave you access to your Elite Coaching.
Gold Masterclass $4997
- Plus – $64 per month for inner circle membership
- $512 full year payment – (4 month discount)
- Allowed members to receive commissions on sales from promoting Gold Masterclass level and below. Five thousand bucks + $64 a month….Now some people might go for this!
Titanium – $9,997
- Plus – $121 per month for inner circle membership
- $968 full year payment – (4 month discount)
- Allowed members to receive commissions on sales from promoting Titanium level and below, for the low price of 10k + $121 a month! Whoa!
Platinum – $16,667
- Plus – $198 per month for inner circle membership
- $1584 full year payment – (4 month discount)
- Allowed members to sell and receive commissions from sales promoting Platinum level and below. But, $16,667 is a lot of money + 200 per month! This is the cost of a new car!
Diamond – $29,997
- Plus – $295 per month for inner circle membership
- $2360 full year payment – (4 month discount)
- Allowed members to sell and receive commissions from sales of Diamond promotions and all levels below. A whopping $29,997 fee! That is just unbelievable! And you still pay $300 a month as well? This is all for learning how to sell this model/memberships to others!
Promoting MOBE Was The Business Model
With MOBE, you were supposedly creating a business, and also claimed the training could be used for creating product niches to earn income. Product niches were downplayed as the primary product was membership recruitment.
One only needs to look at the outrageous membership costs and fees, and the real moneymaker quickly becomes apparent. The big money is in commissions, and gaining recruits underneath you. This is the classic MLM.
The result was much more selling the system to others. Everyone who made anything, did it by selling memberships to MOBE.
Since everyone must invest at every level to promote that level, the costs were enormous. And they were required to pay in order to be able to promote and receive commissions from the next level. You could avoid paying the fee on the next level, if you sold 5 memberships of the next higher level.
Remember, this all started with a $49 product, and quickly became a series of upsells.
But, this scheme didn’t stop there, they had plenty of products with fantastic commissions.
Additional MOBE Products
Once you purchased you MLR license, you had the rights products to sell that offered a 90% Commission rate. Plenty of products were offered to earn those juicy commissions.
- $99 – monthly product – The Vault
- $97 – monthly product – MOBE Elite Earners
- $194 – Email Marketing Empire
- $194 – The OPT Formula (Outsourcing Formula)
- $291 – Affiliate Bonus Domination
- $194 – Funded Proposal
- $9.95 – IM Revolution Handbook
- $297 – MOBE Licensing Kit
- $297 – Traffic Masters Academy
- $39.95 – Instant Info Product
Even More Products to Sell
You had additional products you could sell with a 50% commission.
- $1997 – 10,000 Leads in 100 Days
- $995 – Online Income Revolution
- $997 – The 90 Day Challenge
- $995 – Six Figure Coaching Secrets
- $997 – Add the Nitrous
- AND SEVERAL OTHERS
It was all to bait their members into believing it was training. But in fact it was generating more and more cash for MOBE. And they did this by creating one big illusion you could make some real money with this program. In fact,they promised $5,000 to $10,000 a month! So, what is not to like?
Well, for one you have to sell very high end products to recoup you investment of tens of thousands of dollars, not easy to do. Members were encouraged to enroll friends and family members. I doubt many family members could afford to go beyond the basic level.
Promised Refunds Never Materialize
When the profits weren’t appearing, some members started to realize it was just one big sales funnel, costing tens of thousands of dollars, they wanted out. MOBE clearly stated you could get a refund at anytime, but they just stalled when you tried to get one.
Unfortunately, refunds were near impossible to obtain. They got promises of refunds that never came. Some free trial offers can be scams, by signing you up for other products and not issuing refunds.
The members could not get their money back, because they were ignored. This will delay refunds, but it is not ignored by the FTC. When this happens they will investigate complaints.
Some people had over $100,000 invested, others $10,000 or more. This didn’t even include the money people wasted on additional costs for extra training seminars, and materials. This was all required to be paid by members, in order to continue to sell more memberships.
Matt Lloyd’s MOBE Did Not Deliver On Promises
The Better Business Bureau had a warning posted in 2017 to potential investors to be cautious when attending The Internet Marketing Freedom Workshops run by My Own Business Education (MOBE).
They stated “the company failed to live up to it’s financial promises, did not deliver ordered merchandise, and pressured people into buying additional products, and also stalled on refunds”
MOBE Disclaimer Reports – Average Income of Less Than $250 a Year
Even the income disclaimer statement on their website states the average consultant “generates less than $250 per year” Wow!
For investing large sums of money, enough to buy a brand new car with cash, making $250 a YEAR is a far cry from $5,000 to $10,000 per month as claimed.
MOBE was also affiliated with other companies. Each one of these products were just a storefront that ultimately funneled visitors and members right into their own website.
- My Top Tier Business MTTB)
- Internet Funnel Systems
- 45 Minute Paydays
- Matt Lloyd Publishing
- And many others
Wealthy Affiliates Sued By MOBE
Kyle, the owner of Wealthy Affiliates posted an article on January 30,2014, claiming the MOBE should be avoided. The article titled My Online Business Empire Review – Another Obvious Scam . Is Matt Lloyd’s Mobe a Scam? Well, the FTC now says it operated fraudulently, so I say the answer was – YES. And in fact, the article was stating the truth.
At the time, this article was so infuriating to MOBE and Matt Lloyd, they decided to file a lawsuit against Wealthy Affiliates. They claimed it was not true.
On December 23, 2015, Wealthy Affiliates were served with a lawsuit from MOBE Ltd, claiming defamation by the “Another Obvious Scam” article that Kyle had wrote. In the article, Kyle, had carefully presented the facts that led him to believe that MOBE was a scam. Now Wealthy Affiliates had no choice but to prove there case in court.
MOBE did everything they could to drag the case out. Then, things changed. The FTC brought charges against Matt Lloyd and MOBE and forced them to shut down. In turn, this caused the lawsuit with Wealthy Affiliates to be ruled in Wealthy Affiliates favor. You can read the whole story here.
Is the MOBE a Scam – Yes, it Was!
Many lessons can be learned from this company and the way in which it operated, deceived people and finally was shut down by the FTC. You can read what the FTC reported about this company here Mobe and the FTC.
The FTC report stated MOBE had bilked customers out of $125,000,000! A staggering amount of money! I doubt that the victims will see more than pennies on the dollar from this scam.
Beware of Results That Are Just Too Good To Be True
My point of writing this review of MOBE was to make everyone aware of just how these scams operate. I wanted to take a look under the hood for clues to use in sniffing out future scams.
It will help everyone to learn from these outrageous promises! All the claims of overnight riches are just fools gold. You now know exactly what a fraudulent system looks and sounds like, so I hope this helps to keep you safe from other scams out there.
When you get ads promoting fantastic results, that are to good to be true, ..IT IS! Claims of little or no work required, are scams. Run away!
Even some companies that seem to be legitimate companies at first, turn out to be bad companies later. Vibrant Web is an example. They make you think they are a legitimate company, when they are completely fraudulent and deceptive.
Slow And Steady Wins Most Often
Making steady income that will help you to produce a better life, will require work. The pie in the sky, get rich quick formula is a myth. It is human nature,and just like the moth chasing the candle flame, it has devastating results.
Unfortunately people will still try to grab that brass ring, and play lottery tickets with fantastic payouts in the millions and even billions! Somebody has to win, and you can’t win if you don’t play, right! It is ok if you only spend $5, but don’t spend your paycheck to increase your odds.
Save Your Money
Sadly, with the odds of one chance in hundreds of millions, the chances of winning are slim indeed! Why keep chasing your dream with lousy odds, when you could make it happen, with some help from people who are doing it now?
If you are serious about wanting to earn money online, and want to learn how to do it the right way, then I can help you. Are you sick and tired of all the scams and fake guru’s Do you want something that really works? I can help you! Learn to earn money online the right way.
If you have read to this point, congratulations! You have just learned some important points to use in judging if a product you are considering is a scam. Quickly, a few main points to remember about recognizing scams.
- If it sounds too good to be true, it is. Research any wild promises of big money before you buy. Don’t chase the shiny objects.
- Do not send money before you know what the program is and how it makes money. Legitimate companies are not hiding the truth. Look for a free trial (be careful there some are free trial traps also) Here is one example – Read The Smart Pill Scam
- UP-SELLS – The biggest read flag. Products that have many up-sells and claim you have to pay more in order to be successful, are often fraudulent.
If you have any questions or comments,or a product you want me to look at? Please leave them below and I will get back to you. I answer all my readers.