WASHINGTON, D.C. — The Federal Trade Commission (FTC) has announced the distribution of over $3.5 million in refunds to consumers harmed by “The Credit Game,” a credit-repair scheme found to have engaged in illegal and deceptive practices.
The FTC’s 2022 lawsuit targeted the scheme’s operators, Michael and Valerie Rando, as well as their affiliated companies, alleging they charged consumers exorbitant fees for services that delivered little to no value. According to the complaint, the defendants misled consumers regarding the legality and effectiveness of their products, falsely promised refunds, submitted inaccurate information to credit-reporting agencies, and promoted a sham business opportunity for others to launch similar credit-repair scams.
The complaint also accused the Randos of encouraging consumers to use COVID-19 tax relief funds to pay for these fraudulent services, a violation of the COVID-19 Consumer Protection Act.
Following the FTC’s legal action, a court order permanently banned the Randos from operating in the credit-repair industry and mandated the surrender of their assets to compensate victims.
Refunds are being issued to 9,224 affected consumers through checks or PayPal payments. Check recipients are advised to cash their checks within 90 days, while PayPal payments must be redeemed within 30 days.
Consumers with questions about their refunds can contact Simpluris, the refund administrator, at 833-296-0723. The FTC emphasized that it does not require individuals to pay or provide account information to receive a refund.
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