To anyone thinking about investing in the Nouveau Riche investment scheme as presented by Pat Gillespie, THINK TWICE. The reasons follow.
The Nouveau Riche investment scheme as sold by Pat is a legitimate business opportunity wherein individuals are guaranteed multiple 6 figure incomes within the first year and 100% ROI within the first 60 to 90 days with an investment of $17,000 - $18,000. The facts are:
Out of thousands of scholars in Nouveau Riche, no more than a handful make multiple 6 figure incomes. He tells you there are thousands of scholars, however, most of what he tells you cannot be independently verified.
Few if any scholars realize a 90 day ROI. Many scholars get frustrated because of Pat's deception and stop working the investment scheme after months of frustration.
Investments of $30,000+ are common place with no ROI.
The company is structured such that complaints for fraud, misrepresentation, deception are ignored and kept quite. Management does not respond in a timely manner and then only in a half hearted manner. The founder of the company washes his hands of the complaints.
Pat requires products purchases as part of the initial investment and then deny this requirement after the authorized return date (3 days) has expired.
Pat sells the investment scheme as NOT MLM, however, after you invest he tells you that selling to family and friends is the key to success.
The selling process involves initial deception followed by conference calls with other reps validating the deception (3 ways).
Nouveau Riche has a Board of Regents (which pat claims to be a member) that is structured to handle complaints. Inherently, members of the Board of Regents subscribe to the same practices which makes resolution to problems all but impossible.
Pat tells you that there is extensive training and that he is genuinely interested in your success. After he gets your money, this training and support is elusive.
Pat tells you that seminars are the key to lead generation. He induces you to invest in seminars that are supposed to be a working model that is consistent in results based upon prior success. The reality is...the seminars are a poorly working model...the speaker(Pat) demonstrates limited skills...and did not distribute the limited leads to the investors as promised. He boldly lied about an equal share of the leads for an equal share of the investment.
The products by Nouveau Riche have very high entry points. Pat encourages you to buy the entire package at a cost of $15,685 plus expenses. The value of these products in relation to the price is questionable. The profit per sale is 60 - 70% because the products are over priced. Nouveau Riche in a disclaimers says that requiring product purchases is a violation of Corporate policy, however, these violations continue to go on without enforcement.