YTB Second Lawsuit - Is The Pyramid Falling
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Former YTB Referring Travel Agents Fight Back
Another class-action lawsuit against YTB (Your Travel Business) has been filed in Illinois, by former referring travel agents of YTB on Friday, August 11. They are seeking more than $100 million in damages for themselves and others who recently invested in programs by YTB.
Their claim of a YTB pyramid scheme operation resulted in them suffering financial losses. This is a very serious charge. But will there be the proof needed to back up their alligations?
The trouble for YTB first started on August 4, when The State Of California filed a lawsuit against them, charging that YTB operates an illegal pyramid. This was followed up later in the week when reports surfaced that The Better Business Bureau of Illinois had been investigating YTB for similar complaints from former YTB agents.
Will YTB be able to bounce back from all this negative publicity...or will it spark even more lawsuits from former YTB agents? Is this also the reason that YTB withdrew their application to be listed on the American Stock Exchange? The industry will be closely following every move YTB makes in the next few months.
Larry Buhrandt
TraVerus - Certified Travel Agent
615-824-9772
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