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11/19/2009 FTC Press Release
Defendants Could Pay More Than $1 Million for Failing to Disclose Terms of Recurring-Fee Plan
An online marketer of purportedly “free” Internet auction kits, which automatically charged unwitting consumers $59.95 a month for enrollment in an “online supplier” program for Internet auctions, has agreed to settle Federal Trade Commission charges that its actions violated federal law. The separate proposed court settlements with the company and two of its former executives bar them from similar deceptive conduct in the future, and require them to make specific disclosures to ensure consumers are aware of any recurring-fee plans (also known as “continuity plans” or “negative option plans”) for which they are signing up or being charged. The proposed court settlements also require the settling defendants to pay a total of what could be more than $1 million.
Read more on FTC Settlements Bar Deceptive Online Marketing of "Free" Internet Auction Kits…
TechCrunch has just published a post titled "Post Transaction Marketing Hall of Shame" with the subtitle "Hundreds of Well Known E-Commerce Companies Rip Off Customers"
From the TechCrunch article:
"Hundreds of well known ecommerce companies add post transaction marketing offers to consumers immediately after something is purchased on the site. Consumers are usually offered cash back if they just hit a confirmation button. But when they do, their credit card information is automatically passed through to a marketing company that signs them up for a credit card subscription to a package of useless services. The “rebate” is rarely paid."
Read more on WebLoyalty, Click Happiness and Post-Transaction Sales Tactics…
11/17/2009 Financial Fraud Enforcement Task Force
WASHINGTON—Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime. The Department of Justice will lead the task force and the Department of Treasury, HUD, and the SEC will serve on the steering committee. The task force’s leadership, along with representatives from a broad range of federal agencies, regulatory authorities and inspectors general, will work with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, address discrimination in the lending and financial markets and recover proceeds for victims.
Read more on President Obama Establishes Interagency Financial Fraud Enforcement Task Force…
Michael Webster, a commercial litigation attorney specializing in franchise and distributorship law has written a post about the recent lengthy post at ShoeMoney.com called "Dennis Yu – Rise and Fall Of a Con Man in the Affiliate Industry".
Read more on Dennis Yu vs. Jeremy Shoemaker – the saga continues…
I just got a very disturbing unsubscribe message that stated:
"Please don't send me anymore emails. Why? I just learned that Paul is involved in a scam business that is cheating those of us who have trusted and believed in him. Too bad. I'm disappointed."
Read more on Scammers using my name?…
Company Pocketed More Than $15 Million From Consumers Last Year, But Almost None Received a Computer
The Federal Trade Commission has asked a federal court to issue a contempt order against BlueHippo, a company that collected more than $15 million from consumers based on claims that it would finance their purchases of new computers, but delivered neither the financing nor the financed computers, in violation of a 2008 court order. The FTC alleged that less than one percent of consumers who signed up with BlueHippo received the financed computers they applied for, and undisclosed conditions to redeem “store credits” were rigged to discourage consumers from using them.
Read more on FTC Lodges Contempt Charge Against BlueHippo…
11/10/2009 FTC Press Release:
Attorney Failed to Turn Over Proceeds from Defendants’ Business Opportunity Involving Sale of Internet Kiosks to Consumers.
The Federal Trade Commission has filed civil contempt charges against an attorney who represented the marketers of an “Internet kiosk” business opportunity that turned out to be nothing more than a Ponzi scheme.
Read more on FTC Files Contempt Charges Against Attorney for Ponzi Scheme Operators…
In a strange TechCrunch article by BlitzLocal CEO Dennis Yu – that was met by even more bizarre praise of Dennis Yu for sharing his information, while being met with little contempt – the former FaceBook spammer explains how to trick people in order to make money.
Read more on BlitzLocal CEO explains how to trick people…
A lot of the fake news sites like InternetJobNews and fake blogs pull disclaimers from the sales pages of the products they are promoting. Apparently, InternetJobNews switched products they promote but never bothered to change their disclaimer. But that's not what's funny.
Read more on InternetJobNews – funniest disclaimer yet?…
I was reading a BBB alert about a site called 3HourProfits.com in which the BBB stated:
"3HourProfits.com of Minnesota charged one Wilson consumer to begin applying their internet marketing concepts and claimed the consumer would start making a profit within the first three hours of work. After paying, the consumer was re-routed through PayDotCom.com to set up an account for the commissions she would make. The site would not let her log-in to set up, and after contacting 3HourProfits.com multiple times she has yet to receive a response or reimbursement for the $39 start up fee. 3HourProfits.com is also operating under the name of Force One Events, Inc. and they claim to be ‘ranked #1 on BBBReviews.org.’ BBBReviews.org is in no way associated with the Better Business Bureau. The name is misleading, but neither 3HourProfits.com nor Force One Events, Inc. is a BBB Accredited Business. Force One Events, Inc. has failed to respond to several complaints and has an “F” rating with BBB."
Read more on 3HourProfits.com BBB warning – and funniest "As Seen On" claim ever……
