Former NFL quarterback Tim Tebow has announced that he is pausing his relationship with a Christian-based wealth seminar that reportedly left some attendees heavily in debt.
The company Life Surge, which reportedly pays Tebow $2-4 million to speak at its events, is accused of using hard sales tactics for programs it charges as much as $50,000 to attend, according to TMZ.
Event tickets cost between $20 and $100, and attendees are promised the benefits of the company’s “SurgeU” programs, where they are supposedly taught how to strike it rich with investing and real estate strategies.
Attendees are then urged to take out interest-free credit cards, home equity loans, or cash out 401(k)s to pay for further programs that reportedly teach them the secrets of wealth accumulation.
Customers are allegedly sold on the idea that the strategies are quick and easy steps to wealth, but in reality, the practices are complex and time-consuming.
But many attendees are reportedly left with high-interest debts that soon spiral out of control, the report says.
On Friday, Tebow spoke with reporters, voicing concern about the allegations and his decision to pause his relationship with Life Surge.
Life Surge also sells its investment courses with a Christian message, claiming that gaining wealth has a “Kingdom Impact” for Christians and will help customers do God’s work.
Some Life Surge customers have filed complaints with the Federal Trade Commission, saying the organization uses high-pressure sales tactics and does not give potential investors enough information that financial losses can still occur despite their training.
“I am so devastated that Christians like Tim Tebow made me trust in something that has taken so much money from me,” one attendee wrote in their Federal Trade Commission report. “This is evil, especially because I’m disabled on a limited income.”
For its part, Life Surge counters that it never trains its salesmen “to pressure customers into borrowing or taking on debt they cannot afford,” and adds that it “does not ask its headline speakers to promote or endorse Impact Classes or advanced training programs.”
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