Equinox International was a

multi-level marketing Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial marketing strategy for the sale of products or services in which the revenue of the MLM company is derived from a non-salaried workforce selling th ...

company founded in 1991 and headed by Bill Gouldd. In 1996, Equinox was listed #1 on

Inc Magazine ''Inc.'' is an American business magazine founded in 1979 and based in New York City. The magazine publishes six issues per year, along with surrounding online and social media content. The magazine also produces several live and virtual events y ...

's list of the 500 fastest-growing private companies in the United States. The company and its founder came under scrutiny for its business practices; starting in 1997, investors, the FTC, and several states brought suit charging Equinox was an illegal pyramid scheme rather than a legitimate business. On 25 April 2000, the

Federal Trade Commission The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) antitrust law and the promotion of consumer protection. The FTC shares jurisdiction o ...

issued a notice that Equinox International settled a court case with a penalty of $40 million in restitution. Gouldd was required to surrender substantial holdings, but retained (among other things) over a million dollars worth of real estate. Equinox International was ordered dissolved in April 2000.https://files.hawaii.gov/dcca/sec/news-releases/breg_pressrelease_equinox.pdf As part of the settlement, Gouldd was also "permanently restrained and enjoined from engaging, participating or assisting in any multi-level marketing program."

References

{{DEFAULTSORT:Equinox (Mlm) Defunct companies based in Nevada Defunct multi-level marketing companies Pyramid and Ponzi schemes