YTB Faces Court Action
The State's attorney general filed the suit against YTB in August 2008, alleging that YTB 'operates an unlawful endless chain scheme (pyramid scheme) that relies on untrue and misleading representations and unlawful, unfair, and fraudulent business practices.' This, the state said, includes 'violations of laws regulating the sale of seller assisted marketing plans, franchises, and travel discount plans.'
While YTB has remained silent on the charges, as is their right, the issues have special meaning for agents who are also facing the demise of TravelStar/JoyStar which, at press time, may impact scores of agents and at least $350,000 in unpaid commissions. Both Carnival Cruise Lines and Norwegian Cruise Lines have dropped JoyStar. Unlike YTB, however, legal action is being left to individuals.
Related News
-
YTB International Files Chapter 11
YTB International filed for Chapter 11 bankruptcy protection in federal court on March 2. Andrew Cauthen, YTB's President, said in a press release that 'YTB intends to utilize ... Chapter 11 to regroup, reorganize, and relaunch.'Before the company's downward spiral, YTB reported $45 million in... Read More...YTB Calls off LTS Merger
September 6, 2012 -- YTB International Inc. announced that it has ended merger discussions with LTS Neutraceuticals Inc. In a regulatory filing, YTB said that it "has determined that, after further analysis and consideration, a merger with LTS Neutraceuticals Inc. is not in the best long-term intere... Read More...YTB International Appoints Andrew Cauthen President and CEO
WOOD RIVER, IL--(Jun 5, 2012) - The Board of Directors of YTB International, Inc. announced today that it has appointed Andrew Cauthen as President and CEO. Mr. Cauthen has also been appointed as a Director to fill a vacancy on the Company's Board. The appointments became effective on May 31, 2012.<... Read More...YTB International CEO Resigns Amid Restructuring Program
WOOD RIVER, IL, May 15, 2012 -- YTB International, Inc. announced today that it is embarking on an important restructuring program aimed at restoring the Company's profitability and focusing its strategy on its core business of web-based travel-related services. "The Company needs to refocus on o... Read More...
