 | This article needs additional citations for verification .(May 2015) |
| Industry | Multi-level marketing |
|---|---|
| Founded | 1991 |
| Founder | Bill Gouldd |
| Defunct | 2001 |
| Headquarters | , United States |
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] [6]
Equinox International was ordered dissolved in April 2000. [7] As part of the settlement, Gouldd was also "permanently restrained and enjoined from engaging, participating or assisting in any multi-level marketing program." [7]