According to the complaint the SEC alleges that Kristine L. Johnson and Troy A.
Barnes raised more than $3.8 million since
April of 2014. Investors thought they were buying positions in the company Work With Troy Barnes Inc., doing business as “The
Achieve Community.”
If you go to the webpage now (http://theachievecommunity.com) it says the account has been suspended, however, here's a video I found with Troy Barnes explaining the scheme on Youtube.
Investors purchase positions that cost $50 each. As they progess through the matrix the payout is $400 at the end of 3 to 6 months. The SEC alleges that the matrix was actually a pyramid scheme with no "legitimate business operations". The press release goes on to say that Johnson and Barnes "are merely paying purported investment returns to earlier investors as they receive funds from new investors."
The SEC’s investigation is being conducted by Jeffrey Felder, Kerry Matticks, and Jay A. Scoggins in the Denver office. To read the original press release click here.
If you go to the webpage now (http://theachievecommunity.com) it says the account has been suspended, however, here's a video I found with Troy Barnes explaining the scheme on Youtube.
Investors purchase positions that cost $50 each. As they progess through the matrix the payout is $400 at the end of 3 to 6 months. The SEC alleges that the matrix was actually a pyramid scheme with no "legitimate business operations". The press release goes on to say that Johnson and Barnes "are merely paying purported investment returns to earlier investors as they receive funds from new investors."
Johnson and Barnes allegedly claim to be operating a successful investment program when in fact they are taking funds from new investors to pay phony profits to earlier investors.
Julie Lutz, Director of the SEC’s Denver Regional Office.
The SEC’s investigation is being conducted by Jeffrey Felder, Kerry Matticks, and Jay A. Scoggins in the Denver office. To read the original press release click here.
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