I've Tried That - We lose money so you don't have to!

It has been almost exactly one month since our last iJango update. Maybe this is the last one. I can’t promise, though, because it still fascinates me to no end.

Such a spectacular claim—the center of the online universe! But, as Confucius once said, the bigger the trash talk, the bigger the fail.

Today’s update comes courtesy of the Dallas area BBB:

The Better Business Bureau serving Dallas and Northeast Texas is warning consumers about an Austin company making big promises and expanding in the Dallas area. The company, iJango, is recruiting for an opportunity involving a “customizable personal Web portal” and has scheduled a business presentation next week in Plano, TX. An investigation by the BBB in Austin indicates the company may be operating as an illegal pyramid scheme.

We warned you that something wasn’t quite right with iJango. Much hype, little substance. Now it turns out that other voice are asking questions, too. Such as this:

The Better Business Bureau of Minnesota and North Dakota is warning consumers about a company moving into the area that’s making big promises on the Web that might be too good to be true.

The bureau says its investigation of Austin, Texas-based iJango suggests the company may be offering an illegal pyramid scheme. It says it came to that conclusion after meeting with iJango’s Chief Executive Officer Rayner Smith.

What’s the beef? It’s that iJango offers little in the way of product for sale that an iJango business owner can pass on to someone else. Instead, recruiters make money by recruiting. That’s a big no-no, according to the FCC.

We’ll watch this Hindenberg flame out with great interest. (Excuse me, I think I’m gonna Jango!)