Markets Wired

The Federal Trade Commission is mailing 1,596 refund checks totaling $250,485 to consumers nationwide who bought the dietary supplement Lipidryl for purported weight loss. These are legitimate refund checks, and must be cashed within 60 days of the date they are issued, or will become void.

The refunds stem from a December 2014 settlement with the marketers of Lipidryl. According to the FTC’s complaint, Bioscience Research Institute LLC, the company that sold Lipidryl charged $129.99 for a three-month supply of Lipidryl, which contains African mango seed extract. The FTC complaint charged that ads for Lipidryl falsely claimed that the supplement was clinically proven to cause substantial weight loss (such as 28 pounds in 10 weeks) and reduce users’ waistlines.

Rust Consulting, Inc., the redress administrator for this matter, will mail refund checks to eligible consumers starting today. Each consumer will receive a full refund for their purchase. The checks must be cashed within 60 days of the date they are issued.

The FTC never requires consumers to pay money or provide information before redress checks can be cashed. Any questions can be directed to Rust Consulting at 877-690-7102.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.