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This archive displays posts tagged as relevant to fraudulent misrepresentations in financial transactions and financial markets. You may also be interested in the following pages:

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October 1, 2015

The FTC is mailing 23,406 checks totaling more than $3.7 million to consumers who lost money after buying LeanSpa, a supplement whose marketers allegedly made deceptive weight-loss claims. The FTC and the State of Connecticut sued the marketers of LeanSpa in December 2011, charging that they used fake websites to promote acai berry and “colon cleanse” weight-loss products, and falsely told consumers they could receive free trials by paying a nominal shipping and handling cost. In reality, consumers ended up paying $79.95 for the trial, and for recurring monthly shipments of the product that were hard to cancel. FTC

September 16, 2015

The operators of a fraudulent debt collection scheme will be banned from the debt collection business under a settlement with the FTC, resolving charges that they illegally processed more than $5.2 million in payments from consumers for payday loan debts they did not owe. The settlement resolves a complaint the FTC filed against Kirit Patel, Broadway Global Master Inc., and In-Arabia Solutions Inc. In 2012, alleging that callers working with the defendants harassed consumers into paying on bogus debts, often pretending to be agents of law enforcement or fake government agencies such as the “Federal Crime Unit of the Department of Justice.” FTC

Deflate-Gate Revisited: Court Strikes Down NFL Suspension of Tom Brady

Posted  09/4/15
By Gordon Schnell In a legal decision heard round the sports world, New York federal judge Richard Berman yesterday nullified the four-game suspension the NFL had previously imposed on New England Patriots superstar Tom Brady.  The punishment was meted out for Brady's alleged involvement in deflating the footballs he used to beat the Indianapolis Colts in last season's AFC Championship Game.  But according to...

June 24, 2015

The CFTC has charged Nick A. Wurl and his company Ludiera Capital LLC, both of Chicago, Illinois, with fraud, misappropriation, and the issuance of false statements in connection with a $9 million investment pool scheme.  CFTC

March 31, 2015

New York Attorney General Eric T. Schneiderman announced his office and the Attorneys General of Oregon, Minnesota, Missouri and Texas filed lawsuits against Orbital Publishing Group, Inc. for mailing millions of unauthorized and allegedly misleading magazine and newspaper subscription notices to consumers nationwide. The solicitations were sent without the permission of the publishers and overcharged consumers. NY

March 19, 2015

Florida Attorney General Pam Bondi’s Division of Consumer Protection is suing dating company Singles Plus for allegedly making false claims about success rates, matches and its screening process. FL

March 5, 2015

Florida Attorney General Pam Bondi’s Office announced the filing of four complaints involving deceptive marketing and sales of computer software and tech support services to Florida consumers, many of whom are senior citizens. The call centers allegedly used deceptive marketing, such as pop up ads warning of viruses or other malware, to lead consumers to call these companies who were then directed through scare tactics to pay for unnecessary computer repairs and support services. Consumers typically paid from $99 to $600 to resolve non-existent computer issues. The companies involved included ASAP Tech Help, LLC, E-Racer Tech, LLC, Protech Support, LLC (d/b/a Rapid Tech Support), and Techfix USA, LLC (d/b/a PC Smart Support and First Class Tech Support). FL

March 5, 2015

Florida Attorney General Pam Bondi announced settlements with home security system providers Security Networks, LLC and Vision Security, LLC to resolve allegations they made false or misleading statements in door-to-door sales of security alarm systems. These misrepresentations included that the companies were affiliated with the consumers’ current security monitoring companies and that the consumers’ products were outdated, in need of upgrades or that the consumers’ current monitoring companies were going out of business. FL

February 13, 2015

The FTC approved a final order against Dallas auto dealer TXVT Limited Partnership (doing business as Trophy Nissan) involving deceptive advertising charges. Under the settlement, Trophy is prohibited from misrepresenting in any advertisement the material terms of any promotion or other incentive, including that it will pay off a consumers’ trade-in or the cost of leasing or purchasing a vehicle. Trophy is also prohibited from failing to clearly and conspicuously disclose material terms of its promotions or other incentives and must comply with the Consumer Leasing Act and Regulation M and the Truth in Lending Act and Regulation Z. FTC

February 9, 2015

The FTC obtained a $9.5M judgment against sweepstakes promoter Crystal Ewing for deceptively enticing consumers in the U.S., Canada and the United Kingdom to send money to collect large cash prizes that, in fact, did not exist. FTC
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