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AGM International Inc., a/k/a








  1. AGM International Inc., also known as ( “AGM”), lists several addresses on its website, Its “USA/Canada Headquarters” address is 300 Klaminsi Road, Wilmington, Delaware 19804. Another AGM address is 600 17th Street, Suite 2800 South, Denver, Colorado 80202.

    AGM purports to offer website marketing techniques and technology to assist people in internet marketing, providing “worldwide users with a first-class and fully automated home-based business solution!” AGM also claims to have “helped
    thousands of people from around the world obtaining financial freedom just by using [AGM’s] simple training steps and [AGM’s] most powerful marketing techniques.”

  2. Other claims made by AGM on its website are as follows:
  3. AGM also claims to pay the highest commissions online, representing on its website that “you will earn 5% to 50% commission on every product sold through your mall. Additionally you will receive a $250 to $5,000 commission for every new mall owner who joins through your mall from your referral!”

  4. In or about August 2002, a person living in Westbrook, Maine (“the Maine consumer”) found AGM while searching the internet and, at or about this time, paid AGM $650.00 to participate in AGM’s work-from-home business opportunity.

  5. AGM’s representatives guaranteed to the Maine consumer that she would earn at least $12,000.00 by the end of her first year and that, if she did not, she would be refunded the $650.00 she had paid to AGM.

  6. The Maine consumer, after receiving instructions and files from AGM, soon realized that her computer neither was sufficiently powerful nor contained sufficient storage capacity to download and run AGM’s files.

  7. In September and October 2002, the Maine consumer sent several e-mails to AGM requesting a full refund. Although AGM replied to a few of the Maine consumer’s earlier e-mails, AGM did not indicate if it would provide a refund. AGM failed to
    respond at all to the Maine consumer’s later e-mails.

  8. AGM has accordingly sold services and products to the Maine consumer for the purpose of enabling the Maine consumer to start a business pursuant to 32 M.R.S.A. §4691(3).

  9. Pursuant to 32 M.R.S.A. § 4696, the seller of a business opportunity shall register with the Administrator prior to selling, offering to sell, advertising or undertaking any other act relating to the promotion of business opportunities in Maine.

  10. Securities has no record that AGM is, or has ever been, registered as a business opportunity in Maine.

  11. Pursuant to 32 M.R.S.A. § 4692, the seller of a business opportunity shall provide all purchasers with a disclosure statement meeting the requirements of 32 M.R.S.A. § 4691 et seq.

  12. The Maine consumer never received any form of disclosure statement from AGM.

  13. Pursuant to 32 M.R.S.A. § 4699(1), it shall be unlawful for any seller of a business opportunity to fail to comply with any provision of 32 M.R.S.A. § 4691 et seq., including, but not limited to,

    1. failing to register pursuant to 32 M.R.S.A. §§ 4696 and 4697;

    2. failing to provide all purchasers of the business opportunity with a disclosure statement as required by 32 M.R.S.A. § 4692.

  14. Pursuant to 32 M.R.S.A., § 4699(2), it shall be unlawful for any seller of a business opportunity to make any representation concerning estimated, projected or actual sales, income and gross or net profits unless, at the time the representation is made,
    the representation is relevant to the geographic market in which the business opportunity is to be located, a reasonable basis exists for the representations, the seller has in its possession material which constitutes a reasonable basis for the
    representation and the seller makes that material available to any prospective purchaser or the State upon their request.

  15. Securities has no information to suggest that AGM had a reasonable basis to make its guarantee of earnings to the Maine consumer, or that the guarantee was relevant to her geographic market.

  16. On December 20, 2002, Securities sent a certified letter to AGM at 300 Klaminsi Road in Wilmington, Delaware, notifying AGM that it had been selling, offering to sell and advertising business opportunities in the State of Maine contrary to the
    provisions of 32 M.R.S.A. § 4691 et seq. Securities requested that AGM provide a list of all Maine persons who had purchased an AGM business opportunity. Securities further requested that AGM make rescission offers to all such Maine
    persons. This letter was returned to Securities as undeliverable. Securities later learned that 300 Klaminsi Road does not exist.

  17. On March 26, 2003, Securities sent the same letter by certified mail to AGM at 600 17th Street, Suite 2800 South in Denver, Colorado. This letter was delivered and signed for on March 31, 2003. However, AGM has failed to respond to it.

  18. On July 31, 2003, Securities sent the same letter by certified mail to Harvard Business Services at 25 Greystone Manor in Lewes, Delaware. Harvard Business Services is listed with the Delaware Department of Corporations as the registered
    agent for AGM International, Inc. However, Securities later learned that this legitimate and duly incorporated company sells adhesives, is not involved in internet marketing, and is an entirely different entity from the one that dealt with the Maine

  19. For the reasons stated above, the Administrator reasonably believes that AGM has engaged, is engaging or is about to engage in acts or practices constituting violations of 32 M.R.S.A. § 4691 et seq.

  20. Pursuant to 32 M.R.S.A. § 4700(5), whenever it appears to the Administrator that any person has engaged in or is about to engage in any act or practice constituting aviolation of 32 M.R.S.A. § 4691 et seq., the Administrator may issue an order directing the person to cease and desist from continuing the act or practice.


Pursuant to 32 M.R.S.A. § 4700(5), notice is hereby given that the Administrator intends to issue an Order to Cease and Desist against AGM to prohibit further violations of 32 M.R.S.A § 4691 et seq.

Pursuant to 32 M.R.S.A. § 4700(5), AGM has thirty (30) calendar days from the entry of this Notice of Intent to file a written request for a hearing.


Date: September 23, 2003 /s/ Christine A. Bruenn
Christine A. Bruenn
Securities Administrator
Date: September 23, 2003   Reviewed by:

/s/ Bonnie E. Russell
Bonnie E. Russell
Assistant Securities Administrator
Date: September 23, 2003   Presented by:

/s/ Christian D. Van Dyck
Christian D. Van Dyck