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| Industry | Multi-level marketing |
|---|---|
| Founded | 1991; 34 years ago (1991) |
| Founder | Bill Gouldd |
| Defunct | 2001; 24 years ago (2001) |
| Headquarters | , United States |
Equinox International was amulti-level marketing company founded in 1991 and headed by Bill Gouldd.[1] In 1996, Equinox was listed #1 onInc 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, theFTC, and several states brought suit[2] charging Equinox was an illegal pyramid scheme rather than a legitimate business.[3]
On 25 April 2000, theFederal 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."[6]