Sen. Burt Saunders linked to controversial online travel company
Exclusive WINK News investigation
By
Mike Walcher, WINK News
Story Created:
Oct 9, 2008 at 11:19 AM EST
Story Updated:
Oct 9, 2008 at 5:13 PM EST
SOUTHWEST FLORIDA - State Senator Burt Saunders (R-Naples) is serving on the Board of Directors of a company that is being sued by the state of California, as well as some individuals.
Saunders serves on the Board of YTB International, which operates YourTravelBiz.com, commonly known as YTB. California's Attorney General calls YTB a pyramid scheme. Two federal class-action lawsuits have been filed against YTB, making the same claims. Each of those suits asks for $100 Million in damages. California wants damages, plus restitution to victims in that state.
YTB recruits people to its online travel booking site. They pay $500 dollars each to join and about $50 a month to access the website. They then can book travel from their own homes. But they're also encouraged to bring in new members, who would pay $500 to join the site.
Saunders, who is running for US Congress to represent Lee and Collier Counties, would not talk with WINK News about his involvement with YTB. Likewise the company, based in Illinois, would not reveal how much money Saunders gets for serving on the Board of Directors.
Monday, Oct 13 at 10:04 PM Frank Paulson (fka "Anon.") wrote ...
Also to "Presenting the truth": YES, Saunders received a whopping $30,000 per year plus $1,000 per meeting, according to the SEC's files. But he does NOT own any stock; read the full text of the filings which were too long to incorporate in the limited space here. For that compensation he accepts direct, personal liability as an independent, non-executive director. I suppose you and a few others will insist on blaming him for YTB's misdeeds, since he's been on their Board for a whole 4 months
Saturday, Oct 11 at 12:51 PM Presenting the truth wrote ...
While you are at it, look at what happened to Meridian Bank yesterday and how that bank is owned by two Board of Diector members at YTB and all the insider loans and interaction because of that with Meredian Bank, whom the Feds now shut down because of such questionable deals.
Saturday, Oct 11 at 12:47 PM Presenting the truth wrote ...
You need also to go back and read YTB's SEC quarterly reports and all the 8k filings. Burt is paid a nice salary and expenses.
Saturday, Oct 11 at 11:41 AM Presenting the truth wrote ...
Oh uninformed one, Burt owns plenty of YTB stock. Here is the SEC filing pal: YTB International Inc: Insider TradingThe following transactions were listed on a Form 4 document filed with the SEC. Transaction Detail back to Transactions Overview Name SAUNDERS BURT L Title Director Remaining Shares 24,391 Trade Date 05/23/08 Transaction Grant Quantity 24,391
Saturday, Oct 11 at 7:23 AM Anonymous wrote ...
The SEC filings show Saunders joined YTB’s Board of Directors as an independent member, a protector of shareholders and consumers, 5 mos ago and he owns no stock in the company. He is not an officer or employee and does not receive commissions. He is not a member of their multi-level marketing scheme. Should we ask all independent directors to QUIT public companies, or should we demand MORE independent directors like Saunders? I hope most people know that Saunders is doing the right thing!
Saturday, Oct 11 at 7:15 AM Frank Paulson wrote ...
Do not confuse a "director" who is selling a multi-level marketing scheme for a commission or fee with a MEMBER OF A COMPANY'S BOARD OF DIRECTORS! Saunders is a perfect example of what we NEED on the boards of directors of public companies. Is it hard to understand that independent directors (not the company’s executives) are the key to stopping ENRONs, Fannie Maes, Freddie Macs and other similar abuses? Shareholders and consumers alike need independent board members such as Saunders.
Friday, Oct 10 at 1:53 PM Jayne wrote ...
Liam; Carey and Danis. Rex Carr and Witzel, Kenney & Dimmitt, L.L.C. 2001 S. Big Bend Blvd. St. Louis, MO 63117 Telephone: 314-645-5367 Fax: 314-645-5387 http://www.careydanis.com/lawyer-attorney-1338677.html http://www.rexcarr.com/index.asp
Thursday, Oct 9 at 8:37 PM Liam Doyle wrote ...
Hello Please let me know about this class action law suit myself and few others were taken advantage of by ytb and it cost us dearly not only in time money but in reputation who can I contact to jump on board? Please advise Many thanks Liam Doyle
Thursday, Oct 9 at 6:55 PM Michael wrote ...
I smell Connie Mack! I smell Connie Mack! Junior must have come back from California long enough to peddle this to the news.
Thursday, Oct 9 at 6:43 PM Chad Yoder wrote ...
I paid the 500 to join and the 49.95 a month to run a business. The Directors I was involved with only were worried about recruitment not sales. Yes they told you about sales but never did they really care about the sales end only about me getting people signed up. We piggyback off travelocity to book travel, I found this out when I had a problem and had to call YTB, they referred me to travelocity. That opened my eyes that we were not our own company. I no longer want anything to do with YTB!
Thursday, Oct 9 at 6:09 PM Dave wrote ...
If it's a pyramid scheme i guess the fact that the compensation plan is available for anyone to look at and the fact that people that get signed in can make more than the person who signed them in. And they are publicly traded and sec certified so i guess if they were a scheme that would have been found out long before then.
Thursday, Oct 9 at 1:18 PM Conrad wrote ...
The California AG and the class action suits are frivolous. I mean, one of the parties in the class action suit filed for 100 million dollars didn't even pay anything to get started. He took a free position and lost millions? Yeah right. Typical smear merchants.
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