Tuesday, January 26, 2016

‘Life Coaches’ Ran $20M Ponzi Scheme

 
By Abby Haglage

A married couple who ran a successful life-coaching business engaged in fraud, theft, and racketeering, a new lawsuit alleges.

It’s early 2015 in a Paris conference room and nerdy men in suits are shouting: “I’m sassy, I’m sexy, I’m sensational!” The words, indecipherable if not for the video’s caption, are a part of a warm-up game during a life-coaching retreat—one aimed at shaping the world's best life coaches.

A company called The Secret to Life Coaching (TSTLC)—one that’s now under government investigation—hosted the retreat. Founded in 2008 by Coral Rose Grant, TSTLC’s stated mission is to help people “live their best lives” and, ultimately, make a career out of teaching others the same.

This week, it is the subject of a major class-action lawsuit led by two former clients, Cheri Lucas and April Fisher—the latter of whom taught classes for TSTLC. Together, the two allege that the company was part of a ponzi scheme devised by Coral and her husband Mac in which they pocketed investor money totaling anywhere from $8 to $20 million, using it to “live like royalty.”

Click here for the full article.

Source: The Daily Beast

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