What if your grandpa started getting calls from someone offering to sell him treatment for Alzheimer’s? If they didn’t respond to his calls, he would get angry and start shouting. Agora Financial has been undertaking this difficult process for years.
It’s not even me saying this.
The company’s questionable practices have been highlighted by several evaluations from both employees and customers. In addition, the FTC demanded a $2 million penalty from Agora Financial for defrauding US retirees.
Agora Financial is a financial publishing company headquartered in Baltimore. Baltimore, MD 21201, at 808 Saint Paul St.
In the next column, we’ll take a closer look at this company’s shady business practices over the years and provide any relevant statistics:
Warning: Agora Financial LLC has no human faces behind it.
Agora Financial is a media conglomerate that puts out a wide range of printed and electronic periodicals. Their headquarters can be found in Baltimore. Agora Financial was established by Bill Bonner in 1979.
Addison Wiggin is currently serving as the executive editor of Agora Financial. He has worked in the fields of finance, filmmaking, and publishing.
Agora’s website, on the other hand, is reticent to reveal any further information on its management. Neither Bill Bonner nor Addison Wiggin is pictured on the Agora Financial website.
The About Us page of this company is underwhelming because they don’t even show the faces of the people that manage it.
Agora Financial’s behavior is highly unusual for a corporation of its age. Agora refuses to provide any information about itself, even though transparency is increasingly valued by consumers and businesses alike.
Their About Us page provides no helpful details, such as photos of the company’s leadership or details about the team’s background or specializations.
Since Agora is a financial publishing firm, more effort could have been made to publicize its leadership team. They don’t want to show their faces, though.
Why?
For the simple reason that they are petrified.
Agora’s recent $2 million settlement with the FTC explains why the corporation remains tight-lipped about its leadership.
Be aware of businesses that won’t tell you who owns the company or who runs the day-to-day operations. This is a warning sign, as such businesses are almost always fraudulent. The Cold Spring Advisory Group is a parallel organization that uses anonymity for its leadership. As well as being a fraud.
$2 Million Fine to Agora Financial for Scamming Seniors with Diabetes Cure and Quick Money Schemes
Agora Financial was charged by the Federal Trade Commission (FTC) for deceiving senior citizens into purchasing newsletters and brochures by falsely claiming to have found a solution for type 2 diabetes. Over $2 million will be paid by Agora Financial and its subsidiaries to resolve these claims.
As part of the settlement, the FTC also forbade Agora and its subsidiaries from repeating the same misrepresentations. Agora Financial and its affiliates targeted senior citizens with false claims of curing diabetes and promising free money from the government, according to Daniel Kaufman, acting director of the Bureau of Consumer Protection.
The FTC began investigating the complaint in October 2019 and issued the consent decree in February 2021.
This case against Agora Financial demonstrates the company’s pattern of engaging in predatory business practices toward its customers. The elderly were the primary target audience, with promises of a diabetic cure and government handouts. Both of these assertions are quite bold, and they might convince someone who isn’t savvy about the ways of the Internet to part with their money.
The Doctor’s Guide to Reversing Diabetes in 28 Days (The Guide) was one of two hoaxes run by Agora Financial LLC. The other was Congress’ Secret $1.17 Trillion Giveaway.
These labels look like a scam to a 21st-century shopper. Agora Financial and its partners preyed on the elderly since they are the most nave and have the least expertise with online fraud.
Let’s investigate both of these cons in greater detail.
Diabetes Treatment
Agora and its partners promoted The Doctor’s Guide through an online newsletter, email distribution lists, company websites, and affiliate programs. They said it was a foolproof way to reverse type 2 diabetes in as little as 28 days, based on scientific evidence.
The Doctor’s Guide suggested that their plan may be followed without changing your food or exercise routine in any way. This guide was offered for $249, with a supposedly available discount of $750. They claim that you would have had to pay an additional $750 for visits in person. The cost of The Doctor’s Guide, however, is merely $250.
A Little About Diabetes:
The most frequent forms of diabetes are type 1 and type 2. Type 1 diabetes can be treated with insulin, whereas type 2 diabetes cannot. When the body has a greater need for insulin, type 2 diabetes develops. Because diabetes is a chronic condition that worsens with time, patients may need to take more than one medicine to control their condition.
Diabetes can be managed, but not cured, at this time. Losing weight, increasing physical activity, and consuming a more healthful diet will help you manage your blood sugar. Only 34,2 million U.S. citizens, or around 1 in 10, have diabetes. You can appreciate how serious this illness is and how risky Agora’s swindle was.
They made the outrageous claim that their product could cure type 2 diabetes in just 28 days. Agora and its partners took advantage of people who were at a low point in their lives.
It’s cruel to say you can treat a sickness that can’t be cured. It demonstrates that no one at Agora Financial or any of its subsidiaries gives a damn about the pain and anguish of their patients. Without the FTC complaint, they might still be peddling their phony remedy.
In-Depth Information:
One of Agora’s subsidiaries, Reverse Diabetes, bragged via email that their 28-day treatment was the only one proven to reverse type 2 diabetes. If you click on one of their ads, you’ll be taken to a presentation that lasts an hour.
According to the presentation and transcript, conventional treatments for type 2 diabetes, such as exercise and healthy food, make the condition worse. The video and translation claim that prolonged usage of electronic gadgets like cell phones and computers is the real, surprising reason why so many people are developing type 2 diabetes.
Those individuals asserted that the non-ionizing radiation (NIR) emitted by such gadgets promotes diabetes. They attribute the epidemic of diabetes cases to NIR and restate these assertions in their email marketing.
An Agora partner site promised a cure for type 2 diabetes in just 3 easy steps. They also guaranteed that, if the buyer followed the plan, their diabetes will vanish within 28 days. To further promote this hoax, Agora Financial has also issued statements in its favor.
Multiple NIR blockers, they argue, can reverse diabetes. The three phases of their procedure are as follows:
- The first step is to acquire some Himalayan Silk, which is essentially just a mulberry extract with a fancier name. According to them, doing so would provide a natural kickstart to pancreatitis.
- Epsom Blue and Chromamite are used as “Sugar Companions” in the second step of the process. According to them, it frees up insulin receptors.
- Last but not least, they insist that buyers equip themselves with “NIR blockers” to ensure that “diabetes never comes back.”
In addition to these measures, Agora Financial claims that you should also avoid utilizing any gadgets that emit Non-Ionizing Radiation.
The Truth:
The Doctor’s Guide contradicted their claims that diabetes may be cured in 28 days without requiring any changes to diet or exercise.
The Doctor’s Guide recommends several dietary adjustments, including cutting back on carbohydrates, switching to grass-fed meats, and more. None of the supplements they recommend can help with diabetes. Epsom Blue is magnesium sulfate, while Chromamite is chromium sulfate. Together or separately, none of these affects diabetes in any way.
It’s important to remember that staying away from screens won’t prevent diabetes either.
They were deceiving customers by charging $249 for a handbook that provided no real benefit to buyers. Furthermore, they lied about fixing a fatal illness.
Distribution of Funds by Members of Congress
From at least January 2018 to at least February 2021, Congressional Checks, a subsidiary of Agora Financial, conducted an awful scam. Agora Financial and its partner company made the bold assertion that consumers who followed their procedure would receive $1.17 trillion from the federal government.
The scammers used to email people, telling them that the government owed them hundreds or even thousands of dollars every month through checks from Congress or the Republican Party. The term “Republican Checks” was first used after October 2018. Before that time, “Congressional Checks” was the only phrase used by Agora and its partners.
There was a period when the Lifetime Income Report and Congress’ Secret $1.17 Trillion Giveaway were prominently featured in advertisements for Congressional Checks. Before, their primary online promotional channels included advertisements, affiliate networks, and company websites touting their Congressional and Republican checks.
Their commercials make it seem like they can help you learn how to get your Congressional or Republican check. The adverts for this product, like those for The Doctor’s Guide, directed viewers to a one-hour video.
According to the video and transcript, a provision was introduced to the recently passed tax package on December 15, 2017, which could give you an extra $6235 this month and every month going forward, if you so choose.
In-Depth Information:
Based on their research, Agora Financial concluded that the majority of taxpayers are unaware of this tax provision because it is hidden in over 500 pages of tax rules. They argue that consumers have a right to checks written by Republicans or members of Congress.
Customers are made to feel a feeling of urgency in these ads by the threat that someone else will collect their distributes if they don’t. They said Bloomberg described this clause as a “multimillion-dollar windfall.” Furthermore, they informed buyers that several sitting members of Congress were already profiting from the plan to the tune of hundreds or even millions of dollars.
False customer reviews were utilized to market this product by Agora Financial and its partner. Scammers and fraudsters frequently employ the usage of phony reviews to appear legitimate. Another well-known internet con that employs a similar strategy is Nine University.
Agora and its partner offer that you can get at least $900 by cashing these cheques. To make it look like people were getting these cheques and making money, they doctored stock photos.
They doctored the Financial Disclosure Report for Congressman Issa, which is open to the public, to make it look like they got money from Republicans.
At the end of the presentation, the Agora affiliate would recommend buying the book “Congress’ Secret $1.17 Trillion Giveaway” to learn more about the Congressional checks.
The Truth
Although it was promoted as a guide to receiving congressional checks, the book Congress’ Secret $1.17 Trillion Giveaway turned out to be empty on that front. In reality, all that was covered was the basics of dividend investing.
There was no discussion of Republican checks or congressional checks in the text. The book also didn’t provide much in the way of advanced information on dividend investing.
When advertising the book for Congressional checks, they said it was free, but in reality, it cost $4.95 to send. However, to receive the book when it was advertised for Republican checks, a $49 annual subscription to Lifetime Income Report was obligatory.
They fabricated claims about government support and their product. They again focused on the elderly as a vulnerable population to defraud. The number of subscriptions or copies of the book sold was a primary objective.
Related Agora Financial Lawsuit Documents from the FTC are as follows:
- Stipulated-order-FTC
- Ftc-Agora-Financial
If you want to learn more about the lawsuit against Agora Financial, you can do so by reading the aforementioned documents.
Reddit Experts Dismissed Agora Financial
Social networking sites that don’t stifle their members’ free speech are a target for online scammers and big businesses like Agora Financial. Scammers like Agora Financial aren’t fans of sites like Reddit and Gripeo because they give customers a safe space to voice their concerns without fear of retaliation.
Companies like that always have a team of lawyers standing by to shut down any complaints or critical posts made about them online. Targets of their aggression are those who speak out against the dubious practices they engage in.
This is why I decided to post my criticism on Gripeo. The Agora and Agora Financial LLC wouldn’t bother me with any legal threats.
The dishonest practices of Agora Financial have been called out by more than just myself. Agora Financial has been the subject of numerous Reddit user reviews.
The Agora Financial Help Desk Is Unresponsive.
Someone’s experience with Agora Financial was documented on Reddit. They claimed to have paid $1250 for a lifetime subscription to Agora Reserve. However, it was not at all what was promised.
They got a blank box and a 5-minute forecast subscription that didn’t tell them much.
They reached out to Agora Financial’s support staff since their products were so bad. However, Agora Financial claims that they were never charged, therefore customer service is unable to give a refund.
This individual then called their bank to confirm whether or not Agora had charged their account. They found out the hard way that Agora Financial’s customer care had lied to them and that they had been charged $1250 by the corporation.
This person has warned others to be wary of Agora and similar investment advisory firms.
Their scams are so pervasive that they were recently sued by Agora Financial. I can’t help but speculate on the number of victims of these shady con artists. Agora can pull off numerous frauds at once because of the large number of affiliates they have.
Notorious In Baltimore
I stumbled onto a discussion of Agora on Reddit while doing research for my article.
The Baltimore-based financial services provider Agora Financial was the topic of this thread.
Someone has inquired about employment opportunities with the organization. They were curious about what it was like to work there.
Numerous current and former Agora employees and residents of Baltimore gave their feedback. It’s been around for a while, so naturally, most people view it with suspicion. The FTC’s recent $2 million fine proves that their concerns were well-founded.
One reviewer who applied for an internship there got a bad feeling about Agora Financial from the start. They mentioned how everyone else in the company provides technical support for the writers who get the big bucks.
Another individual commented that after working for an Agora subsidiary for a year, they would not advocate working there.
This individual’s prior employer was NewMarket Health, a division of Agora Financial. They detail how Agora’s offshoots market to the elderly and make health claims, such as Alzheimer’s and cancer cures. The critic was spot on. I’m curious as to how many harmful items Agora Financial has sold to the nation’s elderly over the years.
The FTC and I aren’t the only ones who have seen the dangers of Agora’s advertising tactics, as these comments demonstrate. This corporation has made a name for itself by targeting elderly consumers and taking advantage of them by offering them unnecessary goods.
Consumers’ Horrifying Experiences with Agora Financial Exposed in 2021 Reviews
People’s opinions on Agora Financial have been voiced in more than just the Reddit community. Many people have been scammed by this company, and their negative experiences are documented on a wide variety of review sites.
The many positive evaluations of Agora Financial that I was able to find online include:
Refuse To Refund
This individual claimed that Agora Financial obtained access to their credit card information through misleading advertising practices and subsequently overcharged them. In addition, the firm said no when the customer asked for a refund. The reviewer claims that Agora Financial is primarily interested in taking your money and providing you with poor financial advice. They also claimed that James Althucher, the promoter of this company, should be ashamed of himself.
“Vile and Predatory”
This complaint claims that Agora is one of the most unethical, exploitative, hateful, and manipulative businesses around. A code was requested from this person in an advertisement that promised $645 in exchange.
The reviewer notes that Agora Financial preys on the most defenseless members of American society and employs some of the most dubious advertising practices available.
“Spent a Fortune in Vain”
After joining Naomi’s Dark Money program, this individual realized they lacked the experience necessary to participate in the trades she suggested. After that, they decided to subscribe to Tim Sykes’s Penny Stocks newsletter, but they were severely let down.
Agora Financial’s customer service department declined their refund request. In addition, they were continuously sent free subscriptions from the corporation. They had to request removal from the company’s mailing list by contacting them directly.
I intend to file a refund request.
This complaint claims Agora Financial’s operations are poorly managed. They complain that selecting a course always leads to a third-party site trying to sell you something else. The dissatisfied customer promised to file a refund request.
“A Scam”
This individual had joined Agora Financial’s publications as a lifelong member. Unfortunately, they quickly realized that the recommended trading approach was not a good fit for them.
This prompted a request to switch to a different trading provider, which was denied by Agora. The person feels as though they have lost two thousand dollars.
“I Wish I Had Never Signed Up”
This reviewer joined AlphaBrain through Agora Financial. It was a complete bait and switch, they say. Two months have passed since the last time the subscriber’s text notifications shared a nar price point.
In addition, they said Agora didn’t have a refund policy. This is a common gripe about this company. There have been numerous requests for refunds with no results.
Employees Expose the Agora Financial Scam
Agora Financial has received criticism from more than just its clientele for the way it does business. Workers here have also voiced dissatisfaction with the leadership’s lack of professionalism and the deplorable working conditions.
The following comments from former Agora Financial employees suggest that working there is less desirable than it first appears.
Extremely Tensive Situation
The reliability of Agora Financial’s support staff has been exposed by this reviewer. They say the company doesn’t care about their clientele and that workers are allowed to be rude and dishonest with them.
It’s important to keep in mind that seniors make up the bulk of Agora Financial report subscribers. Just picture your grandpa being yelled at by someone offering to sell a cure for cancer. That’s a terrible idea.
However, nobody at this company seems to mind. This evaluation makes that abundantly clear.
Fake Testimonials
This review claims that many of the good Agora Financial reviews found on the internet are fabricated. Interns are required to add phony reviews at the company’s direction. The critic claims that the company is similar to a cult because its members intentionally deceive the elderly for financial gain.
Agora is a dishonest company that uses publicity and terror to steal from the elderly. This individual has had enough of Agora Financial’s dubious practices. They concluded their report by stating they believe Agora has less than a 10% chance of surviving the next decade.
Unfavorable
This evaluation was basic and to the point. This individual claims that the entire company reeks of negativity. The person advises that people save themselves by not working with Agora Financial.
Emotional Place:
This individual claims that working conditions at Agora Financial are quite unpleasant due to the rudeness of senior management. The management shows favoritism, and those at the top are never held accountable for it. The office culture is toxic, and coworkers and visitors alike have noticed.
You can imagine how distressing it must have been for this person to work there without feeling safe enough to ask even the most basic inquiries. Within the ‘Advice to Management’ section, employees recommend that the company provide training to upper-level employees on how to treat others with dignity and respect.
Conclusion
Agora Financial is one of the most twisted and immoral financial institutions in the United States. The company just settled with the FTC for $2 million for swindling elderly people. Once upon a time, Agora Financial and its partners offered a “cure for diabetes” and “lessons on how to get free money from the government.”
Concerns about the company have been voiced by numerous former employees and customers. Many people have had their retirement savings and other important assets stolen by this scam company.
I would appreciate it if you could forward this review to your friends and family. The more individuals learn to recognize these cons, the less effective their advertising strategies will be. As a result, Agora Financial wouldn’t be able to con as many retirees out of their savings.
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