According to the Joint Venture Agreement dated March 27th, 2009, the scheme purported to allow Kelly G Rogers to market a "Digital Business Card" and have an exclusive in the MLM and Network Marketing industry. A list of 72 MLM clients are listed in the attached Joint Venture Agreement. The agreement would assign "Potential Commissions and Profits" to the investor in exchange for investment increments of $50.000. According to the JV agreement; "Rogers has acquired the exclusive rights to market the JumpLab Digital Business Card to any and all Multilevel Marketing Organizations listed on Exhibit A. Rogers hereby agrees to assign $250,000 of the potential commissions and profits received from those interests to (name) for every $50,000 contributed to the Joint Venture by (name), up to, but not more than, $150,000 for and assignment of $750,000 of commissions and profits from the sale of JumpLabs cards".
It's all appears to be very slick and Kelly G Rogers-esk but it's simply more of the Lawyers Kelly Gordon Rogers whiffle-dust that has become his trademark. As a review of the facts; Both Carrie Sewell Rogers and Lawyer Kelly G Rogers are being sued by seven investors for the Rio Grande Coal mine operation for fraud and embezzlement, 5 investors are suing the Rogers bankruptcy to keep the court from discharging $712,000 awarded by an arbitration panel, another 20 investors are suing him over the "Falcon Energy-Buck Hamilton Series" oil & gas deal gone bad, the District Attorney has indicted Rogers on July 30th of 2009, the SEC sued and Rogers agreed to an AGREED FINAL JUDGMENT and Rogers filed bankruptcy on July 27th of 2009. In total, Rogers listed 6 separate lawsuits in his bankruptcy filing.
Three interesting observations about this JV Agreement.
- First, while Lawyer Kelly G Rogers makes the claim that Kelly G Rogers has "acquired the exclusive rights to market the JumpLab Digital Business Card to ANY AND ALL MULTILEVEL MARKETING ORGANIZATIONS LISTED ON EXHIBIT A, a closer look at Exhibit A shows at least 6 that are "Taken" or the comment "Hmmmm".
- Second, this JV Agreement is written on March 27th, 2009. Rogers filed bankruptcy in July 27th of 2009 just days before he was indicted. If an investor had given money to the Rogers Family LP, would they have ended up as an "Unsecured Non-Priority Creditor" on Kelly Rogers bankruptcy filing only 4 months later?
- Third, who borrows money to begin a sales organization anyways? Earning commissions is risky at best. Who knows if clients will even purchase your product? Is it priced right, does a need exist? This is the equivalent of loaning someone money to invest in the stock market.
All good reasons to stay away from this financial predator at all costs.