Richard Yu

Key Points

• Richard Yu is an online business coach and founder of Impact Clients, offering programs like the Setter Certification Program™ to teach digital business and sales skills.

• Significant allegations of predatory sales tactics, high-pressure selling, and questionable business practices have surfaced, with some labeling his programs as multi-level marketing (MLM) schemes or scams.

• Mixed customer feedback: some praise the program’s structure and coaching, while others criticize high costs, generic content, and unfulfilled promises.

• Legal and financial concerns include a 2017 securities fraud conviction unrelated to his current coaching business and ongoing FTC investigations into his online programs.

• Potential risks include financial loss for clients, reputational damage due to scam allegations, and legal scrutiny from regulatory bodies.

Overview

Richard Yu is an entrepreneur and online business coach based in Irvine, California, operating through his company, Impact Clients. He markets himself as a mentor for beginners looking to start and scale digital product businesses, particularly through his Setter Certification Program™. This program claims to train individuals in remote sales roles, offering over 15 hours of sales training, weekly coaching calls, and job placement assistance upon completion. Yu promotes his services via social media platforms like YouTube (over 100,000 subscribers) and Instagram, positioning himself as a high-performance coach. He holds a degree from the University of California, Los Angeles (UCLA) and has built a professional network with over 500 LinkedIn connections. His public persona emphasizes client success, time management, and digital entrepreneurship.

Allegations and Concerns

Several serious allegations have been raised against Richard Yu and his business practices, primarily through online forums like Reddit and review platforms:

• Predatory Sales Tactics: Yu and his team allegedly use high-pressure sales techniques, such as urging clients to pay large deposits (e.g., $500-$1,500) to “secure a spot” in programs costing up to $9,800. Some report aggressive behavior, including a sales call where Yu screamed and punched his desk when a potential client hesitated.

• MLM-Like Structure: Critics describe Yu’s programs as resembling multi-level marketing schemes, where participants are taught to sell coaching to others, creating a cycle of “coaches coaching coaches.” This has been called deceptive and unsustainable.

• Unfulfilled Promises: Some clients claim the programs overpromise results, with testimonials lacking verifiable success stories. One Reddit user noted that Yu rarely tags successful clients, and a contacted testimonial client described the program as a “bait and switch.”

• FTC Investigations: There are reports that the Federal Trade Commission (FTC) is actively investigating Yu’s operations for potential deceptive marketing practices, though no formal charges have been confirmed.

• Prior Legal Issues: In 2017, Yu was convicted of securities fraud in a case involving Celator Pharmaceuticals, where he traded on insider information, resulting in a guilty plea and a $150,000 bond. This is unrelated to his current coaching business but raises questions about his credibility.

Customer Feedback

Customer reviews of Richard Yu’s programs are polarized, with some praising the structure and community while others criticize the cost and effectiveness.

Positive Feedback

• Structured Content: Some participants value the program’s framework, with one Trustpilot reviewer stating, “The program is organized and delivers what they promise. My coach Alex Lee was very helpful throughout the process, giving constructive feedback.”

• Supportive Community: Reviewers highlight the community aspect, with comments like, “The skool community has been a great platform to interact with other fellow students,” and “The community is fantastic and very supportive!”

• Coaching Quality: Clients appreciate one-on-one coaching, noting, “Sebastian is a great coach who is always encouraging and motivating me to never give up.”

Negative Feedback

• High Costs, Low Value: Many complain about the steep price (up to $9,800) for content perceived as generic. A Reddit user stated, “Most of the content felt like generic advice. If you’re already experienced, it might not be worth the high cost.”

• Lack of Results: Some report minimal returns, with one reviewer saying, “Honestly, the course didn’t blow me away. I expected more for what I paid. You can probably find similar advice online for free.”

• Deceptive Marketing: A Trustpilot review warned, “Richard Yu and his Impact Clients Program has Scammed So Many People! Google ‘Richard Yu scam Reddit’ and you will see hundreds of victims.”

• Chargeback Issues: Several customers reported difficulties recovering funds, with one Reddit user noting, “I was scammed into paying $2,200 and realized the next day how much of a Charlatan is selling the same thing he scammed me with.”

Risk Considerations

Engaging with Richard Yu’s programs involves several potential risks:

• Financial Risk: High program costs (up to $9,800) pose a significant financial burden, especially given reports of limited returns. Chargeback attempts have been met with resistance, increasing the risk of unrecoverable losses.

• Reputational Risk: Yu’s association with scam allegations and a prior securities fraud conviction could harm clients’ reputations, particularly if they promote his methods or join his network.

• Legal Risk: Ongoing FTC investigations and potential regulatory action could disrupt Yu’s operations or lead to penalties for participants if the programs are deemed fraudulent.

• Opportunity Cost: Time and money invested in Yu’s programs may yield minimal results, diverting resources from more established educational or business opportunities.

Business Relations and Associations

• Impact Clients: Yu’s primary business entity, through which he operates the Setter Certification Program™. The company is headquartered in San Juan, Puerto Rico (954 Ave Ponce de Leon, 00907).

• Coaching Team: Named coaches include Alex Lee, Sebastian, Janice, and Doreen, who provide one-on-one mentorship. Their qualifications are not publicly detailed, raising questions about expertise.

• Online Platforms: Yu leverages YouTube, Instagram, and the Skool community platform to engage clients and build his brand. His Instagram account has faced suspensions, possibly due to aggressive advertising.

• Professional Network: Yu claims affiliations with influencers and entrepreneurs, though specific names are rarely verified. One Reddit user mentioned an influencer confirming Yu’s questionable practices.

• No Notable Partnerships: There are no documented partnerships with reputable educational institutions or established businesses, limiting his credibility in the professional sphere.

Legal and Financial Concerns

• 2017 Securities Fraud Conviction: Yu pleaded guilty to securities fraud for trading on insider information about Celator Pharmaceuticals’ Vyxeos clinical trials and acquisition. He faced a potential penalty of 20 years in prison and a $5 million fine but was released on a $150,000 unsecured bond. Sentencing occurred on December 5, 2017. This incident is unrelated to his coaching but reflects on his ethical history.

• FTC Investigations: Reddit discussions suggest the FTC is investigating Yu’s coaching programs for deceptive marketing, though no public lawsuits or fines have been confirmed.

• No Bankruptcy Records: There are no public records of bankruptcy filings for Yu or Impact Clients.

• Contract Disputes: Some clients report signing contracts that limit refunds, complicating chargeback efforts. One Reddit user mentioned a $900 “initiation fee” tied to a restrictive contract.

Risk Assessment Table

Expert Opinion

Richard Yu presents a compelling image as an online business coach, leveraging social media and a polished persona to attract clients. His Setter Certification Program™ offers structured training and community support, which some find valuable for learning sales skills. However, the overwhelming volume of negative feedback, including allegations of predatory tactics and MLM-like structures, raises serious concerns about the program’s legitimacy and value. The high costs, combined with reports of generic content and unverified success stories, suggest that the program may not deliver the promised financial freedom for most participants.

Pros

• Organized program with access to coaching and community support.

• Appeals to beginners seeking digital business skills.

• Active online presence provides visibility and engagement.

Cons

• High costs with questionable return on investment.

• Allegations of deceptive marketing and aggressive sales tactics.

• Prior securities fraud conviction undermines credibility.

• FTC scrutiny and potential MLM structure pose legal risks.

Cautionary Advice

Prospective clients should approach Richard Yu’s programs with extreme caution. Thoroughly research alternatives, such as established online courses or tech industry sales roles, which offer similar skills without the high costs or ethical concerns. Verify testimonials independently and avoid making large financial commitments under pressure. If already enrolled and dissatisfied, file complaints with the FTC (via ftc.gov) and pursue chargebacks promptly, documenting all interactions. Given Yu’s legal history and ongoing investigations, the risks of engagement outweigh potential benefits for most individuals.

Key Citations

-: Reddit thread on Richard Yu scam allegations (July 26, 2023).-: U.S. Department of Justice report on 2017 securities fraud case (August 31, 2017).-: Reddit discussion on Richard Yu chargeback issues (June 27, 2024).-: Reddit thread on Richard Yu program reviews (September 30, 2024).-: Trustpilot reviews of Setter Certification Program™ (August 14, 2023).-: Additional Trustpilot reviews (March 29, 2024).-: Trustpilot reviews of Richard Yu – Coach (February 25, 2023).-: Reddit thread on Richard Yu as a potential fake guru