Episode 257: The Truth Behind MLMs with Tracy Coenen

Forensic Accountant Tracy Coenen joins me for a conversation about the predatory nature of MLMs. In addition to investigating fraud for over 25 years, Tracy founded Pink Truth, a website that uncovers the problematic and damaging truth of multi-level marketing (MLM). By and large, MLM schemes overwhelm and prey upon women, falsely promising entrepreneurship and financial freedom while making them more financially dependent on an abusive structure. In this episode, Tracy and I explore how MLMs masquerade as empowering ventures but function as wolves in sheep’s clothing. Featured topics: Tracy Coenen sheds light on the predatory tactics of multi-level marketing. (6:10) False promises about entrepreneurship: We discuss the facade MLMs portray that “you are starting a business of your own…” (14:49) Instead of empowering women, MLMs make them more financially dependent on an exploitative structure. (21:31) Tracy answers, “Why are women so drawn to MLMs? Why are women a good target for this?” (42:12) Learn more about Tracy Coenen: Tracy has been investigating fraud for more than 25 years, but she didn’t always want to be a forensic accountant. With a dream of one day being a prison warden, Tracy went to Marquette University in Milwaukee, WI to get a criminology degree. A class on financial crime investigations reminded her how much she loved Encyclopedia Brown books as a kid. She continued her criminology degree, but added accounting and economics courses so she could become a CPA… and here Tracy is, finding money in cases of corporate fraud, high net worth divorce, and other financial shenanigans. Resources & Links: Kate’s book “The D Word Phoenix Rising: A Divorce Empowerment Collective Pink Truth The Dream TODAY’S EPISODE IS SPONSORED BY: PRIMIS BANK Get started navigating your new financial picture with Primis Bank. For terms and conditions, visit primisbank.com/dsg. DISCLAIMER: THE COMMENTARY AND OPINIONS AVAILABLE ON THIS PODCAST ARE FOR INFORMATIONAL AND ENTERTAINMENT PURPOSES ONLY AND NOT FOR THE PURPOSE OF PROVIDING LEGAL OR PSYCHOLOGICAL ADVICE. YOU SHOULD CONTACT AN ATTORNEY, COACH, OR THERAPIST IN YOUR STATE TO OBTAIN ADVICE WITH RESPECT TO ANY PARTICULAR ISSUE OR PROBLEM.