Blessings in No Time
Also known as: BINT, BINT Operations LLC.
The FTC and the State of Arkansas alleged that Blessings in No Time ran an illegal pyramid scheme marketed as a "blessing loom", promising returns as high as 800 percent. Its operators were banned from multi-level marketing and paid at least $450,000.
Resolved. Refunded, settled, ceased operating, or the claim did not hold up. Kept for the record.
Identity
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- Registrations
- Blessings in No Time (BINT Operations LLC), FTC and State of Arkansas joint action, 2021
- Locations
- Texas
- Jurisdictions
- United States (federal) · Arkansas
The arithmetic that makes a blessing loom a pyramid
Blessings in No Time, or BINT, was promoted from June 2020 by Texas-based BINT Operations LLC and its co-founders LaShonda Moore and Marlon Moore. Participants paid a minimum of $1,400 to join, and were told they could earn more by contributing more and recruiting more. The complaint says some members paid as much as $62,700.
Members were arranged on playing boards with levels. Once a board filled with new recruits who had paid the person at the center, that person was removed, the board split in two, and everyone moved a level closer to the middle. The FTC and Arkansas alleged that the promised returns of up to 800 percent were simply money paid in by later members.
The structure requires perpetual exponential growth: for every member who received the promised payout, eight more had to pay in. However many people are paid, far more must necessarily lose money. That is the allegation in one line.
Who was targeted
The complaint alleges the scheme primarily targeted African American communities, and harmed people who were already struggling financially during the COVID-19 pandemic. It also alleges the operators told participants not to use certain payment apps or processors, and prohibited them from posting truthful, non defamatory reviews of BINT online, which the agencies charged under the Consumer Review Fairness Act.
The outcome
The operators are permanently banned from multi-level marketing, from operating any chain referral scheme, and from making deceptive or unsubstantiated income claims. They will pay at least $450,000 into a fund administered by the state of Texas to provide refunds.
What is not established
The settlement resolves the allegations without any admission or finding of wrongdoing.
Sources
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- Enforcement action June 17, 2021
- Enforcement action July 26, 2023
- Enforcement action July 26, 2023
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First recorded June 17, 2021 · Last updated July 26, 2023