$1.1 Million Returned to Consumers Who Lost Money to Alleged Scammers Selling Bogus Income Opportunities

Federal Trade Commission (FTC)

WASHINGTON, D.C. — The Federal Trade Commission is returning more than $1.1 million to consumers who paid for an allegedly bogus money-making opportunity that called itself “8 Figure Dream Lifestyle.”

The FTC sued 8 Figure Dream Lifestyle LLC and nine co-defendants in 2019 as part of a crackdown on robocallers across the country. In its complaint, the FTC alleged that the defendants used a combination of illegal robocalls, live telephone calls, text messaging, internet ads, emails, social media, and live events to market and sell consumers fraudulent money-making opportunities.

According to the FTC’s lawsuit, the defendants consistently made false or unsubstantiated claims in their marketing about how much consumers could earn using their programs. In reality, the lawsuit says, consumers who bought the programs rarely earned substantial income, typically lost their entire investment, and often incurred significant loans and credit card debt—tens of thousands of dollars, in some cases.

READ:  New FTC Staff Report Outlines Impact of Fraud on Communities of Color

Under two stipulated court orders, the defendants agreed to settle the FTC charges last year. As a result, they are banned from selling money-making or business coaching programs, and nine of the defendants are banned from using robocalls for most purposes, including marketing or advertising. In addition, three defendants are banned from selling any investment opportunities. The defendants also surrendered funds to the FTC, which the agency is using to provide these refund payments to consumers.

Payments averaging $460 will be sent to 2,506 consumers, including 1,498 checks and 1,008 PayPal payments. People who receive checks should deposit or cash them within 90 days, as indicated on the check. Recipients who have questions about their checks or the refund program can call JND Legal Administration at 1-888-691-3551. The FTC never requires people to pay money or provide account information to cash a refund check.

READ:  $272 Million Invested to Improve Rural Water Infrastructure

The FTC’s interactive dashboards for refund data provide a state-by-state breakdown of FTC refunds.

Thanks for visiting! MyChesCo brings reliable information and resources to Chester County, Pennsylvania. Please consider supporting us in our efforts. Your generous donation will help us continue this work and keep it free of charge. Show your support today by clicking here and becoming a patron.