Tag: Investment

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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.
The Federal Trade Commission is sending checks totaling more than $5.4 million to 31,144 consumers who purchased an allegedly deceptively marketed investment training scheme offered by California-based Online Trade Academy (OTA) and its founder and Chief Executive Officer, Eyal Shachar.
Call it a “blessing.” Call it a “loom.” In a case just filed in federal court, the FTC and the State of Arkansas use another phrase to describe what the operators of the Blessings in No Time investment program are up to. We call it a pyramid scheme.
Since October 2020, consumers have reported losing more than $80 million to cryptocurrency investment scams, an increase of more than ten-fold year-over-year, according to a new data analysis from the Federal Trade Commission.
A Baltimore-based company, Agora Financial, LLC, and several of its affiliates have agreed to pay more than $2 million to settle Federal Trade Commission charges that they tricked seniors into buying pamphlets, newsletters, and other publications that falsely promised a cure for type 2 diabetes or...
Two Nevada companies and two individuals have agreed to stop charging consumers thousands of dollars to apply for multiple credit cards in their names in order to pay for expensive and often ineffective training programs under a proposed settlement of a Federal Trade Commission lawsuit.
A federal district court entered final orders against the three primary individual defendants—Andris Pukke, Peter Baker, and Luke Chadwick, and related corporations—in the Federal Trade Commission’s case involving the allegedly deceptive sale of real estate properties in Belize to U.S. consumers.
Conforme a los términos de un acuerdo resolutorio con la Comisión Federal de Comercio (FTC, por su sigla en inglés), que se prevé que dará como resultado un total de más de $10 millones de dólares, a la compañía Online Trading Academy se le exigirá que les ofrezca una condonación de deuda a miles...
Online Trading Academy will be required to offer debt forgiveness to thousands of consumers who purchased its “training programs,” while the company’s founder and other individuals will together pay between $5 and $9.1 million and turn over assets under the terms of a settlement with the Federal...
The Federal Trade Commission’s Bureau of Consumer Protection Director Andrew Smith issued the following statement regarding the memorandum opinion issued late last week by U.S. District Court Judge Peter J. Messitte for the District of Maryland, in the matter of In re Sanctuary Belize litigation.
Dear Multi-Level Marketer. Stop it. Stop all promotions that push your products by claiming they prevent or treat COVID-19. Stop all misleading or unsubstantiated promotions that push your business opportunity by claiming people can earn substantial income peddling your products. The...
Continuing its work to protect older Americans from fraud, the Federal Trade Commission sued a publisher called Agora Financial, LLC, alleging that it tricks seniors into buying books, newsletters, and other publications that falsely promise a cure for type 2 diabetes or promote a phony plan to...
There are perceptions some people seem to have about older consumers – and then there’s the data we see in fraud reports from consumers of that age group. Protecting Older Consumers 2018-2019: A Report of the Federal Trade Commission calls some common beliefs into question while...
A new report from the Federal Trade Commission shows that adults aged 60 and older are less likely to report losing money to fraud than younger adults, but the amount of money they report losing is on the rise.The report, Protecting Older Consumers 2018-2019: A Report of the Federal Trade...
The FTC sued a publisher called Agora Financial, LLC, alleging that it tricks seniors into buying books, newsletters, and other publications that falsely promise a cure for type 2 diabetes or promote a phony plan to help them cash in on a government-affiliated check program.
Under a proposed consent order, Belize’s Atlantic International Bank Limited (AIBL) will pay $23 million, representing approximately all of its U.S.-based assets, to settle Federal Trade Commission charges that it assisted various related entities (the Sanctuary Belize Enterprise, or SBE) in...

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