Power 8 exposed as a pyramid scheme

14/08/2015  7 Comments  [Jump to last]
An investigate blog has uncovered that one of Everton's partners 'Power 8' was a pyramid scheme.

The club have removed the link on their webpage on the official website that heralded the benefits of the company.

Read the blog article at Naked Capitalism


Reader Comments (7)

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Michael Kenrick
1 Posted 14/08/2015 at 21:32:10
I'd never seen that soppy saccharin piece of video before, 'celebrating' Everton Football Club and 'our City', to a backdrop of maudlin heart-rending (more like gut-wrenching) 'muzak'... and ending with the immortal words of our manager about Power 8:

"They have the same philosophy as us" ...
"Nothing but the best"

Oh dear... what an own goal!

Nick Page
2 Posted 14/08/2015 at 23:57:44
Oh my Good God! What a f'ing mess this is!!! How embarrassing can you get. Heads should role for this.

http://www.nakedcapitalism.com/2015/08/power-8-sponsor-of-Everton-fc-fulham-fc-and-rcd-espanyol-is-a-250mn-pyramid-fraud.html

James Flynn
3 Posted 15/08/2015 at 00:17:49
The peculiar thing is that this fellow Cook apparently is a known, big-time swindler and crook. You'd think that basic due diligence would have turned up his name.

We can't be in need of money THAT much. Besides, if the money received from Power 8 is traced back to fraud, won't the Club have to return it?

Dave Harper
4 Posted 15/08/2015 at 00:51:52
EFC, Fulham and Espanyol will all look like dupes used by Power 8 to give credibility to the company.

If we can show that due diligence and Money Laundering Regulations followed (I assume both would be required) and the transaction was done at market rates, I don't think there's a problem.

Thank God we weren't in with them as deeply as Espanyol.

Tony Page
5 Posted 15/08/2015 at 02:14:02
My God, having just read Everton have been stripped of every asset but the players, by this board, is this any wonder?
Steve Guy
6 Posted 15/08/2015 at 18:15:39
Why am I not surprised? Why should anyone be surprised ? This Board is a waste of space and has been since the start of The Dear Leader's reign. At some point he will depart but not soon enough......
Phil Roberts
7 Posted 24/08/2015 at 11:46:52
Suspect it may be more down to the CEO and the Marketing Department than the Chairman - or do you want him to approve EVERY decision in this club?

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