Equinox

Equinox Internationalwas amulti-level marketingcompany 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 illegalpyramid schemerather than a legitimate business.[3] On 25 April 2000, theFederal Trade Commissionissued 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]