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FTC Returns More Than $2.9 Million To Consumers Harmed by Warrior Trading
Warrior Trading, Inc., FTC v.
The Federal Trade Commission is cracking down on the Warrior Trading day trading investment scheme for making misleading and unrealistic claims of big investment gains to consumers. The FTC alleges that Warrior Trading and its CEO, Ross Cameron, used those claims to convince consumers to pay hundreds or thousands of dollars for a trading system that ultimately failed to pay off for most customers.
As a result of the FTC’s case, Warrior Trading will be required to pay $3 million to refund consumers and will be prohibited from making baseless claims about the potential for consumers to earn money using their trading strategies.
The Federal Trade Commission is sending payments totaling more than $2.9 million to 20,402 people who paid thousands of dollars for Warrior Trading’s investment programs. The company made misleading and unrealistic claims to sell a day trading “system” that failed to pay off for most customers.
Agency Information Collection Activities; Proposed Collection; Comment Request; Extension (Regulation O)
FTC Action Leads to Permanent Ban for Scammers Behind ‘The Credit Game’ Credit Repair Scheme
16 CFR Part 260: Guides for the Use of Environmental Marketing Claims (Green Guides)
FTC, State of Florida Act To Permanently Shut Down Grant Bae Business Grant Scam
FTC Halts Debt Relief Scheme that Bilked Millions from Consumers While Leaving Many Deeper in Debt
DK Automation
The Federal Trade Commission is taking action against DK Automation and its owners, Kevin David Hulse and David Shawn Arnett for using unfounded claims of big returns to entice consumers into moneymaking schemes involving Amazon business packages, business coaching, and cryptocurrency. The FTC’s complaint alleges that the defendants promised consumers that they could “generate passive income on autopilot” when the truth was that few consumers ever made money from these schemes.
A proposed court order would require the defendants to turn over $2.6 million to be used to refund consumers harmed by their deception, as well as requiring them to stop their deceptive earnings pitches and follow the law.
FTC Takes Action to Stop DK Automation and Kevin David Hulse From Pitching Phony Amazon and Crypto Moneymaking Schemes
FTC Returns More Than $9.8 Million To Consumers Harmed by Napleton Auto’s Junk Fees and Discriminatory Practices
Napleton Auto
The Federal Trade Commission and the State of Illinois are taking action against Napleton, a large, multistate auto dealer group based in Illinois, for sneaking illegal junk fees for unwanted “add-ons” onto customers’ bills and for discriminating against Black consumers by charging them more for financing. Napleton will pay $10 million to settle the lawsuit brought by the FTC and the State of Illinois, a record-setting monetary judgment for an FTC auto lending case. The Federal Trade Commission is sending payments totaling more than $9.8 million to consumers who were harmed by Illinois-based Napleton Automotive Group’s junk fees and discriminatory practices.
16 CFR Part 465: Trade Regulation Rule on the Use of Reviews and Endorsements (ANPR)
Federal Trade Commission Returns More Than $830,000 to Students Misled by Saint James Medical School’s Deceptive Marketing Claims
FTC, California Act to Stop Ygrene Energy Fund from Deceiving Consumers About PACE Financing, Placing Liens on Homes Without Consumers’ Consent
Ygrene Energy Fund Inc., FTC v.
The Federal Trade Commission and State of California are taking action against home improvement financing provider Ygrene Energy Fund Inc. for deceiving consumers about the potential financial impact of its financing, and for unfairly recording liens on consumers’ homes without their consent. The FTC and California allege that Ygrene and its contractors falsely told consumers that the financing wouldn’t interfere with the sale or refinancing of their homes, in many instances relying on high-pressure sales tactics or outright forgery to sign consumers up.
A proposed court order would require Ygrene to stop its deceptive practices and meaningfully oversee the contractors who have served as its salesforce. As part of the settlement, Ygrene will be required to dedicate $3 million to provide relief to certain consumers whose homes are subject to the company’s liens.
FTC Approves Final Order against Electrowarmth Products, LLC and its Owner, Barring Them from Deceptive Made in USA Labeling Claims
Electrowarmth Products, LLC
The Federal Trade Commission sued Electrowarmth Products, LLC and its owner, Daniel W. Grindle, alleging that they falsely claimed the heated fabric mattress pads they sell for truck bunks were made in the USA. The FTC charged Grindle and Electrowarmth with violating the Textile Act and the Federal Trade Commission Act. According to the complaint, Grindle and Electrowarmth violated these acts by labeling and advertising the origin of the textiles used in their products as the United States, when these textile fiber products were wholly imported from China. The proposed order prohibits Grindle and Electrowarmth from making any country-of-origin claim about a product or service unless the claim is not misleading and they have a reasonable basis that substantiates their claim. It also requires Grindle and Electrowarmth to make certain disclosures about the country of origin of any product subject to the Textile Fiber Products Identification Act, and to provide compliance reports. The FTC announced approval of the final order in October 2022.
Federal Trade Commission Takes Action Against Passport Automotive Group for Illegally Charging Junk Fees and Discriminating Against Black and Latino Customers
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