Last Updated
Case Status
Pending
Federal Trade Commission, Plaintiff, vs. Universal Guardian Acceptance, LLC, a limited liability company, and Universal Account Servicing, LLC, a limited liability company, Defendants.
FTC Matter/File Number
2123021
Civil Action Number
2:21-cv-08260
Federal Court
Central District of California
Case Summary
The funder and servicer of the payment plans used by consumers to pay for expensive and often ineffective investment “trainings” from Online Trading Academy (OTA) will be required to offer debt forgiveness to consumers under a proposed settlement with the Federal Trade Commission.
Universal Guardian Acceptance, LLC (UGA) and Universal Account Servicing, LLC (UAS), have agreed to settle Federal Trade Commission charges that they facilitated consumers’ payments to OTA, when they knew or should have known that OTA was deceiving consumers.