WASHINGTON, D.C. — In a decisive move to protect consumers, the Federal Trade Commission (FTC) and the State of Florida recently took legal action against RivX, a company embroiled in allegations of defrauding individuals through misleading trucking investment opportunities. A federal court has responded by issuing a temporary restraining order, ceasing RivX’s operations and freezing the assets of those involved.
The FTC, in collaboration with the Florida Office of Attorney General, filed a lawsuit accusing RivX, along with its owner Antonio Rivodo and executive Noah Wooten, of enticing consumers with deceptive promises of significant returns from trucking investments. The complaint details how RivX convinced individuals to invest $75,000 or more, promising to purchase and operate semi-trucks on their behalf. However, many investors never received a truck, nor did they see the promised returns.
Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, highlighted the severity of the scam, stating, “Defendants tricked consumers into paying tens of thousands of dollars each with false promises that they would operate a trucking business for the consumer. Instead of receiving the lucrative returns promised by defendants, many consumers lost their life’s savings. The FTC will continue to aggressively pursue those who prey on consumers with bogus earnings claims.”
The allegations state that RivX marketed these opportunities by guaranteeing a “passive income” of $5,000 to $7,000 monthly. The company claimed that the entire business setup could be completed in as little as 60 days, a timeline that added to the investment’s allure. Rivodo, often the face of the company in online promotions, made grand promises in videos, assuring investors of effortless profits and financial freedom.
Despite the enticing narratives, the FTC’s complaint reveals a starkly different reality. Few, if any, consumers received the trucks or profits promised. Instead, RivX, Rivodo, and Wooten allegedly pocketed millions from their deceptive practices. Adding to the consumer’s woes, RivX included clauses in their contracts that subjected investors to penalties of up to $100,000 for speaking out against the company or leaving negative reviews.
The lawsuit accuses the defendants of violating multiple provisions of the FTC Act, the FTC’s Business Opportunity Rule, the Florida Deceptive and Unfair Trade Practices Act, and the Consumer Review Fairness Act. These violations underscore the fraudulent nature of RivX’s business model, which preyed on individuals seeking legitimate investment opportunities.
The court’s restraining order aims to halt any further financial harm by freezing the assets of RivX and its key players. This legal action serves as a powerful reminder of the FTC’s commitment to safeguarding consumers against fraudulent schemes and ensuring that those responsible face justice.
The case against RivX marks a significant step in the ongoing battle against deceptive business practices. Consumers are urged to exercise caution and perform due diligence when considering investment opportunities, especially those offering guaranteed returns with little to no effort.
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