The Federal Trade Commission is mailing 3,633 checks totaling more than $969,000 to people who lost money to a deceptive telemarketing scheme that promoted business coaching services to people who wanted to start internet businesses. In January 2018, the Internet Teaching and Training Specialists, LLC (ITT) defendants were banned from selling business coaching services and […]
Monthly Archives: June 2018
FTC Releases Agenda for June Workshop on Cryptocurrency Scams
The Federal Trade Commission has released its final agenda for a June 25 workshop in Chicago that will examine scams involving cryptocurrencies. Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, will give opening remarks at the workshop followed by three panel discussions. The first panel will provide background on consumer uses of cryptocurrencies. […]
FTC Reaches Settlement with Defendant Related to Tech Support Scam
A California man has agreed to pay more than $136,000 and to a permanent ban on offering tech support services as part of a settlement with the Federal Trade Commission over allegations that he provided substantial assistance to an India-based tech support scam. In its complaint, the FTC alleges that Parmjit Singh Brar, the operator […]
FTC Action Halts MOBE, a Massive Internet Business Coaching Scheme
The Federal Trade Commission has charged three individuals and nine businesses with bilking more than $125 million from thousands of consumers with a fraudulent business education program called MOBE (“My Online Business Education”). A federal court halted the scheme and froze the defendants’ assets at the FTC’s request. According to the FTC, the defendants behind […]
Student Loan Debt Relief Scam Operators Agree to Settle FTC Charges
The operators of a Los Angeles-based student loan debt relief scam have agreed to settle Federal Trade Commission charges that they falsely claimed to be affiliated with the Department of Education, charged consumers illegal upfront fees, and collected monthly fees they falsely claimed would be credited toward consumers’ student loans. The settlement with Student Debt […]
Federal Trade Commission Appoints Andrew Katsaros as Agency’s Acting Inspector General
Federal Trade Commission Chairman Joseph Simons appointed Andrew Katsaros as the FTC’s Acting Inspector General, succeeding Roslyn A. Mazer, who retired from federal service at the end of May after serving for more than three years as the agency’s Inspector General. “I’m pleased to announce that Andrew has joined us to fill this important position,” […]
FTC Approves Alimentation Couche-Tard Inc.’s Application for Sale of Two Retail Fuel Stations in Alabama
The Federal Trade Commission has approved an application by Alimentation Couche-Tard Inc., or ACT, to divest two retail fuel stations in Alabama, as required under the FTC’s Jan. 5, 2018, order settling charges that ACT’s acquisition of competitor Jet-Pep, Inc. would violate federal antitrust law. The application requests the FTC to approve the divestiture of […]
Mortgage Relief Defendant Banned from Debt Relief Business in Settlement with FTC
Litigation continues against the remaining defendants. The Commission vote approving the proposed stipulated final order was 5-0. The U.S. District Court for the District of Nevada entered the order on June 5, 2018. For consumer information about avoiding mortgage and foreclosure rescue scams, see Mortgage Relief Scams. NOTE: Stipulated final orders or injunctions have the […]
FTC Amicus Brief Urges Federal District Court Not to Categorically Exempt Hatch Waxman Suits from Antitrust Scrutiny as Potential Sham Litigations
The Federal Trade Commission has filed an amicus brief in Takeda Pharmaceutical Co. v Zydus Pharmaceuticals (USA) Inc., which is a patent infringement case pending before the U.S. District Court for the District of New Jersey. The 1984 Hatch-Waxman Act established a regulatory framework for promoting generic drug competition. The law permits the brand and […]
Newly Formed Money Smart Advance Team Will Get Early Access to, Training on, Updated Money Smart for Adults
FIL-32-2018 June 7, 2018 Newly Formed Money Smart Advance Team Will Get Early Access to, Training on, Updated Money Smart for Adults Printable Format: FIL-32-2018 – PDF (PDF Help) Summary: The FDIC has formed the new Money Smart Advance Team (MSAT). Banks that engage in financial education activities, or plan to do so, and who […]