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Keith Raniere Net Worth: His Arrest, Trial And Sentencing

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Keith Raniere Net Worth

Keith Raniere Net Worth

Keith Raniere Net Worth: New York’s Suffern was Raniere’s childhood home. He claimed to have been a prodigy who could speak in complete sentences at the age of one, read at the age of two, and play the piano well by the time he was twelve. If you want the finer points, keep reading.

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Keith Raniere Net Worth

It’s been said that Keith Raniere is worth around $20 million. NXIVM, led by the charismatic Keith Raniere, was a cult of criminality and coercion that promised its members a better life but delivered neither. In fact, NXIVM, the group he founded, is the primary source of his wealth.

NXIVM’s founder and leader Keith Raniere enthralled a select audience of the group’s roughly 17,000 pupils and seminar participants. Many people moved to Raniere, New York, or went into debt to keep paying for NXIVM seminars they were already taking.

A 2003 Forbes cover story and 2012 expose in The Albany Times-Union detailed investigations into allegations of sexual abuse and other forms of manipulation of NXIVM members by Raniere. Must Read Antonio García Martinez Net Worth.

Keith Raniere Life Before NXIVM

Once Raniere completed his education, he entered the workforce as an Amway representative. Then, using his expertise in multilevel marketing, he established Consumers’ Buyline, a membership-based discount grocery and household goods service that required customers to first become members. Affiliates also received financial incentives for bringing in new members.

With over 250,000 active members in multiple states, Consumers’ Buyline now generates over $33 million annually. But many state attorneys general looked into it and concluded that it might be a pyramid scheme. In 1996, in New York, Raniere agreed to a consent order. There was an agreement reached where he would pay a $40,000 fine and be permanently disqualified from taking part in any “chain distribution scheme.” By 1997, Consumers’ Buyline was no more.

In the 1990s, Raniere was also active in the multilevel marketing of vitamins through the National Health Network. Read More About This James Spader Net Worth 2023.

Keith Raniere Leader of NXIVM Executive Success Programs

Raniere developed the NXIVM curriculum based on the ideas of Ayn Rand. His lessons pushed his listeners to look out for number one and avoid the “parasites” who might get in the way of their success. NXIVM seminars, which cost thousands of dollars and had names like Explorations of Meaning (about memory), Human Pain, and Mobius, compelled attendees to sign a nondisclosure agreement (about self-healing).

In order to participate in NXIVM classes, students were asked to reveal private information that may be used to manipulate them. Students received new colors of sashes as they progressed through the ranks and brought on new recruits. Vanguard was the name given to Raniere for his role as the NXIVM’s leader.

His white sash was longer than everyone else’s, so the students knew they should bow to him. NXIVM used to hold a yearly event called “Vanguard Week” to celebrate Raniere’s birthday. See This James Bergener Net Worth In 2023.

Keith Raniere Arrest, Trial And Sentencing

Source: globalnews.ca

In March 2018, Mexican authorities found Raniere hiding in a cupboard at a Puerto Vallarta mansion. The next year, he stood trial for various racketeering-related crimes including, among others, identity theft, extortion, forced labor, money laundering, wire fraud, and sex trafficking. He was found guilty on all seven counts in June of this year. On October 27, 2020, Raniere will begin serving a 120-year prison term. Read More About This Brooke Ence Net Worth.

Even after his trial and conviction, some of Raniere’s supporters stayed true to him. His supporters did as he said and sent letters of support and a podcast to the court. Visit Dailyrealtime.com for further updates.

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