FTC sends payments to people allegedly defrauded by an online investing scheme
The FTC is sending checks totaling more than $5.4 million to 31,144 people who purchased an investment training scheme offered by Online Trading Academy (OTA) and its founder and Chief Executive Officer, Eyal Shachar.
The FTC alleged that OTA made misleading claims that anyone could use its patented “strategy” to generate substantial income from trading in the financial markets and claimed this strategy could generate income in any market condition. Additionally, the complaint alleged OTA “instructors”— salespeople on commission who marketed OTA’s training and strategy in live events across the country— often falsely held themselves out as successful traders who had amassed substantial wealth using the company’s strategy.
If you get a check, please cash it within 90 days.
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