Equinox (MLM)

Equinox International was a multi-level marketing company founded in 1991 and headed by Bill Gouldd.[1] In 1996, Equinox was listed #1 on Inc Magazine's list of the 500 fastest-growing private companies in the United States.

The company and its founder came under scrutiny for its business practices; starting in 1997, investors, the FTC, and several states brought suit[2] charging Equinox was an illegal pyramid scheme rather than a legitimate business.[3]

On 25 April 2000, the Federal Trade Commission issued a notice that Equinox International settled a court case with a penalty of $40 million in restitution.[4] Gouldd was required to surrender substantial holdings, but retained (among other things) over a million dollars worth of real estate.[5]

Equinox International was ordered dissolved in April 2000.[6] As part of the settlement, Gouldd was also "permanently restrained and enjoined from engaging, participating or assisting in any multi-level marketing program."[7]