from the perilously-close-to-ponzi dept.
alphadogg writes "Zer01 Mobile — making promises of flat rate, no contract, unlimited cell phone service — made its grand entrance at the annual CTIA wireless convention about a year ago, but now the company's Web site has disappeared. The site recently began redirecting visitors to Google.com. Zer01, which was lauded for its plans in the mainstream press, aligned itself with a multilevel marketing company called Global Verge (whose founder had earlier been convicted of securities fraud), and the two companies began recruiting salespeople who paid a monthly fee to be part of a sales program. (Since then, Global Verge and Zer01 parted ways and Global Verge filed a lawsuit against its former partner.) But no mobile service from Zer01 ever materialized. Salespeople were promised payment based on how many other salespeople they signed up to the program, although few appear to have received payment. But as late as the fall CTIA show in October, Zer01's CEO was still promising to launch the mobile service."
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