Bogus Money-Making Scheme Defrauded Millions
- Details
- Written by The FoolProof Team
- Category: Hall of Shame
Source: www.ftc.gov
The Federal Trade Commission is sending full refunds—totaling more than $12 million—to individuals who lost money to a company called I Works, which operated deceptive "trial" memberships and bogus government-grant and money-making schemes in 2010.
Utah-based I Works ran numerous online marketing campaigns, which falsely advertised that federal grants for personal needs were generally available to consumers, and that people who used I Works' money-making product were likely to earn substantial income. The company unlawfully enrolled consumers in membership programs without disclosing, or without disclosing clearly, that it would charge their accounts on a recurring basis until consumers canceled.
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