- Report: #713211
Report - Rebuttal - Arbitrate
Complaint Review: M-Tack Inc.
M-Tack Inc.22 Ahashlag Street Internet United States of America
M-Tack Inc. Ronen Kainan Former CEO Haifa, Internet
*Consumer Comment: Typical pyramid scam!
*Author of original report: M-Tack Are you kidding me !!!
*UPDATE Employee: The Real M-tack
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To get capital Mr Keinan create a Multi=Level marketing with the idea that people will sign-up as a lifetime members for 299.00 US$ and as a return for that membership members will recieve 50% of the total sales from the stores online inside the umbrela of M-Tack. He had hard time to convince invetors so he approached me and for a monthly salary of 6000 Israeli Mew Shekels (around 1750 US$) my job was to act as an owner of M-Tack and the CEO while Mr Keinan was the CFO. I was required to speak only English with those Israeli who came to hear about the wonderful investment. Over the next 3 months close to six hundred members signed up 95% where Israeli and the rest from US, China, India and Canada. During this time sales from the stores (44) where less than 20.00 US$. But Mr Keinan "fixed" the sales by showing 7000.00 - 10,000.00 a month. When I asked him how could it be his answer was six months. "that how you make people believe and buy more memberships". Needless to say I was worried for this kind of scam and slowly start pulling away. As of my actions he stopped paying my salary, remove any access I had to M-Tack. According to my calculation he pocketed 200,000 US$ while is payout to members where less then 15,000.00 so not bad pocketing 185,000.00 in six months.
This report was posted on Ripoff Report on 04/03/2011 04:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/M-Tack-Inc/internet/M-Tack-Inc-Ronen-Kainan-Former-CEO-Haifa-Internet-713211. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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