The President of UOKiK imposed a total of over PLN 24 million in fines on iGenius and International Markets Live. The allegations concern operating pyramid-type incentive schemes, which are prohibited by law, in which benefits depend primarily on recruiting new members rather than on the sale or consumption of products.
The President of UOKiK has brought charges against the iGenius LLC company and its promoters. He has also issued a consumer warning. iGenius offers educational services in finance management. The Authority is of the opinion that a pillar of the company’s operations involves, however, an offer-related partner scheme which may constitute a pyramid-type incentive scheme.
The President of UOKiK explains whether online platforms such as BE Poland and GrowUp Session have violated collective interests of consumers.
Selfmaker Smart Solutions and Selfmaker Technology are the business entities on which the President of UOKiK has imposed fines - nearly PLN 1 million. The PLN 150 thousand financial sanction also applies to the CEO of Selfmaker Technology.
UOKIK has been taking up enhanced actions aimed at elimination of some alternative investment projects available online. The pyramid-like incentive schemes promise their participants some benefits which first and foremost are dependent on the introduction of subsequent persons into the system. UOKIK has been investigating whether platforms such as: iGenius, Dream Trips and Jifu had violated consumer collective interests.
