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As a result of a Federal Trade Commission lawsuit, the operators of an alleged credit card debt relief scheme based in Tennessee have agreed to court orders that would permanently ban them from telemarketing and selling debt relief products or services.
Sean Austin, John Steven Huffman, John Preston Thompson, and their affiliated companies were charged by the FTC in November 2022 with taking tens of millions of dollars from people by falsely promising to eliminate or substantially reduce their credit card debt. At the time, a federal court agreed to the FTC’s request to temporarily freeze the defendants’ assets and appoint a receiver over the businesses while the case took place.
The U.S. District Court for the Middle District of Tennessee, Nashville Division, entered the final orders on April 28, 2023.
FTC Finalizes Order Requiring Credit Karma to Pay $3 Million and Halt Deceptive ‘Pre-Approved’ Claims
Michael and Valerie Rando, et al., FTC v.
At the request of the Federal Trade Commission, a federal court has temporarily halted a bogus credit repair scheme known as The Credit Game for promoting a series of lies and deceptions. The FTC alleged the scheme’s operators lied to credit reporting agencies regarding information on consumers’ credit reports and pitched consumers a supposed business opportunity that was essentially starting their own bogus credit repair scheme.
In a complaint filed against The Credit Game and its owners, Michael and Valerie Rando, the FTC alleged that the company has illegally charged consumers hundreds and even thousands of dollars for credit repair services of little to no value and told consumers to “invest” their COVID-19 governmental benefits on their unlawful services. In some cases, the company’s “services” included filing false identity theft reports with the FTC and encouraging consumers to take actions that were unlawful. The FTC asked the court to immediately halt the company’s illegal operations, appoint a receiver, and freeze the defendants’ assets. The court issued a temporary restraining order doing so on May 3, 2022.
As a result of a Federal Trade Commission lawsuit, the operators of “The Credit Game,” a credit repair scheme that cost consumers millions of dollars, face a lifetime ban from the credit repair industry in proposed court orders filed today.
Michael and Valerie Rando and their companies, first sued by the FTC in May 2022, would also be required to turn over a wide array of property that would be liquidated and used to provide refunds to consumers harmed by the scam.
FTC Action Leads to Permanent Ban for Scammers Behind ‘The Credit Game’ Credit Repair Scheme
BoostMyScore LLC
FTC, California Act to Stop Ygrene Energy Fund from Deceiving Consumers About PACE Financing, Placing Liens on Homes Without Consumers’ Consent
FTC, CFPB Submit Amicus Brief Defending Consumers’ Ability to Dispute Inaccurate Items on Credit Reports
FTC Takes Action to Stop Credit Karma From Tricking Consumers With Allegedly False “Pre-Approved” Credit Offers
Federal Trade Commission Returns More Than $9.7 Million To Consumers Harmed by LendingClub’s Deceptive Hidden Fees
FTC and 18 States Sue to Stop Harris Jewelry from Cheating Military Families with Illegal Financing and Sales Tactics
Harris Jewelry
The Federal Trade Commission and a group of 18 states sued national jewelry retailer Harris Jewelry to stop the company from cheating military families with illegal financing and sales practices. According to the complaint, the jewelry company deceptively claimed that financing jewelry purchases through Harris would raise servicemembers’ credit scores, misrepresented that its protection plans were not optional or were required, and added the plans to purchases without consumers’ consent. The complaint also includes a charge that the jewelry company violated the Military Lending Act, the FTC’s first action under this Act.