In a settlement arrived at late in the afternoon of April 20, 2000, Equinox International is permanently shut down. Owner Bill Gouldd is barred forever from any involvement in any capacity in any MLM in the United States. Many of Gouldd's personal assets will be liquidated, and all corporate assets will be sold. A restitution fund, estimated at between $30-40 million will be established to help distributors victimized by the company's fraudulent and deceptive claims.

Gouldd and Equinox admit no wrongdoing, nor does this civil settlement preclude any future criminal charges.

The settlement was agreed to after a civil trial, lasting more than two weeks. The Federal Trade Commission and eight states had charged Equinox and Gouldd with operating an illegal pyramid scheme, and with deceptive trade practices and fraudulent advertising and recruitment of distributors.

The settlement shut down a company which Inc. Magazine once named one of America's "fastest growing" companies.

Gouldd will have to liquidate, among other things, his $10 million yacht, $6 million corporate jet, and two multi-million dollar homes, as well as personal property valued at about $700,000.

The court-appointed receiver has already begun the process of liquidating the company's assets. All present and former distributors who earned less than $150,000 will be eligible to apply for restitution.

The receiver will be publicizing claims procedures, and we will be posting them on this site.

More on Equinox

Read the Settlement

You are Survivor #

to read about the FTC et al v. Equinox Trial

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