Sozo Global Moves Into Foreclosure0
Sozo Global Moves Into Foreclosure
SOZO global a nutritional beverage Multi Level Marketing Company is seeking relief after defaulting on 15 million dollars in debt.
After five years in business and spending in excess of 15 million dollars in capital the company founded by CEO Mark Adams of Austin Texas, has yet to yield a profitable month.
The company has terminated their United States workforce, closed down its operations in Korea, Philippines, Singapore and Malaysia and defaulted on millions of dollars to suppliers. Canadian third party logistics provider MMP Enterprises has moved to seize inventory and liquidate via auction in an effort to recover invoices defaulted on for services performed.
Multiple suppliers have filed lawsuits for failure to pay for inventory and tools per the terms of purchase. SOZO has left hotels & convention centers in the United States & Canada holding the bag by failing to pay for events they held over the last 2 years.
CEO and founder Mark Adams of Austin Texas has been accused of discrimination against female employees and currently under investigated by Texas Dept of labor. The master Distributor Ken Dunn resigned in April, co-founder and board of Director member Larry Cantrell resigned under protest in Early May along with CFO DeWitt VanWisse and President Trey Knight.
ABOUT SOZO GLOBAL
SOZO Global is an early stage, global direct selling company headquartered in Austin, TX that empowers individuals to leverage their networks into income by sharing innovative health products peer-to-peer. SOZO Distributors get paid to share contagiously excellent products that leverage unique proprietary ingredients and help make physical and financial health accessible worldwide.