Blog Posts Tagged with Franchises, Business Opportunities, and Investments

The new year has just begun, but the FTC already has delivered its answer to the annual question: Should old acquaintance be forgot and never brought to mind? The answer? If you’re a past defendant in an FTC case, the FTC won’t forget you.

A savvy business person always wants to know the shape of things to come. We won’t make predictions but, based on the FTC’s case against multi-level marketer AdvoCare International, we will say this: Don’t bet on a business model that looks like a pyramid.

Steely Dan may be one of the best duos of the rock era. (Sorry, Donnie and Marie fans.) Their song “Hey Nineteen” reminds us to mention some FTC consumer protection developments that could be of interest to your company or clients in 2019. As “Any Major Dude Will Tell You,” when you’re “Reelin’ in the Years” – or at least recapping the past one – consider this non-exhaustive and in-no-particular-order case compilation.

One of the Utah-based defendants’ corporate names was Vision Solution Marketing, but you need to hear their sales pitch to get a sense of how they peddled their big-money “business coaching” services to consumers. In addition to imposing multi-million dollar judgments, FTC settlements ban the defendants for life from selling business coaching or development services. But you really should listen to these phone calls.

The marketers behind a purported money-making promotion called Sellers Playbook appear to have skipped the chapter about complying with federal and state consumer protection laws. That’s the allegation in a complaint filed by the FTC and the Minnesota Attorney General. In addition, it’s the FTC’s first case charging violations of the Consumer Review Fairness Act.

When it came to Mobile Money Code’s “system,” money was mobile all right. It traveled in a one-way direction from consumers to the pockets of the principals behind the get-rich-quick venture. That’s what the FTC alleged in a lawsuit filed against an international network of defendants. The FTC says they used affiliate marketing to promise that people would earn “60k a month on 100% autopilot,” but the typical consumer never got off the runway.

The company’s name is MOBE – pronounced Mōb, not Moby – but according to a lawsuit filed by the FTC, the defendants tell quite a fish story to the consumers they hook with money-making promises.

You can say this about scammers: They tend toward the trendy. As new products and services enter the marketplace, it’s not long before fraudsters find a way to exploit consumer interest in the innovation to make a quick buck. Cryptocurrencies are no exception, which is why the FTC is hosting a workshop in Chicago on June 25, 2018, Decrypting Cryptocurrency Scams.

As a business person managing your personal portfolio, you do your best to keep up with the latest financial news. You’ve been hearing more about cryptocurrencies and asking yourself “Hmmm.” Of course, it’s not just bitcoin. There are now hundreds of cryptocurrencies, which are a type of digital currency, on the market. They’ve been publicized as a fast and inexpensive way to pay online, but many are now also being marketed as investment opportunities. But before you decide to purchase cryptocurrency as an investment, here are a few things to know: