Archives for February 2017

26. BBX – Thailand Member Analysis

BBX Thailand has had real problems since its inception. Going through multiple owners under founder Michael Touma’s direct care, it eventually ended up with Cameron McKean who resigned after the founder’s death and a string of unresolved issues that destroyed his confidence with the founder’s daughter who was running the show. His resignation letter was basically the start of The BBX Investigation. Let’s dive into Asia and come up with all the bits that make sense . . .  [Read more…]

25. BBX NZ – Serious Fraud Office

I post here the complaint lodged with NZ’s Serious Fraud Office today 27 February 2017. SFO handles all fraud over $2m and with my exposure of a $6.9m deficit within the BBX NZ trading platform this more than qualifies for the ‘heavies’ to get involved. Multiple crimes going back years have occurred. I have made my research available to them today. Due process will occur and the SFO in New Zealand has a strict process and protocols. They will do their work. I will help them as they so wish. The bad boys (& girls) will face justice in due course. [Read more…]

24. BBX UK Membership Analysis

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Here are the statistics for BBX UK, based on actual membership data. BBX UK is the healthiest of all the BBX exchanges in the sense that there are members trading, equal numbers of members in debt and credit but claimed membership numbers are grossly exaggerated and there are substantial missing balances (over £1.2m), which is quite unusual for a young exchange. I detail the figures and give my prognosis . . . somebody’s had their hands in the cookie jar! [Read more…]

23. BBX New Zealand Analysis

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The BBX New Zealand membership and account analysis presents a remarkably simple picture, with real figures, of what happens when a barter exchange owner debases the currency. Grid-lock occurs, as the currency becomes less and less of value, down, in this case to 1.7c in the dollar and probably less. They also show the extraordinary lengths that deceivers go to when hiding their crimes . . .  [Read more…]

22. BBX – Winding Down/Winding Up

In this 22nd post of The BBX Investigation I use six examples of barter exchange failures to describe the process and reasons for failure.  [Read more…]

21. How BBX Did It – Lies & Theft

In The BBX Investigation, I’ve hinted at bigger things happening behind the scenes. In this post I describe the sorts of things that occur in crooked barter exchanges and detail how the puppeteers pull the strings for personal enrichment. They deceive . . . then steal. There’s nothing new under the sun. I apply this understanding to the BBX business and make estimates on the size of the skulduggery. It’s scary, something that most members (and even other exchange owners) simply do not know and will find hard to believe. [Read more…]

20. More Words from BBX People

This [long] post shares the second set of feedback from BBX members following my first email asking for feedback. I asked these two questions: Are you happy as a BBX member? Can you spend your credits effectively? The responses paint a very clear picture of serious problems for the failing exchange.

[Read more…]

19. The BBX People Speak

I’ve said a lot and there’s heaps more to come but in this post I . . . Let the People Speak . . . I will update this page as I process an flurry of spiking traffic & emails that has literally brought my server to its knees! [Read more…]

18. BBX Currency Analysis – 10c/$1.00

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BBX International is a company in crisis. In previous posts I have shown that the company has been mismanaged (for years); has high Franchisee turnover and huge member dissatisfaction that stem from the owners raping and pillaging the credit of their members. In this post I analyse and explain the significance of debasing a currency, and in this case the BBX trade dollar. It’s fine when confidence is high and you can get away with it, but it’s usually terminal when the word gets out. BBX is facing accountability now. [Read more…]

17. OPEN LETTER 1 – BBX Members

This is OPEN LETTER is the first I send to BBX members. It invites them to come forward. I introduce myself, identify two concerns and ask two questions. I will share the results collated here in due course. [Read more…]