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In July 2024, the FTC took action against online used car dealer Vroom for misrepresenting that it thoroughly examined all vehicles before listing them for sale and failing to obtain consumers’ consent to shipment delays or provide prompt refunds when cars weren’t delivered in the time Vroom promised. The company agreed to a proposed settlement that would require the company to pay $1 million to refund consumers harmed by the company’s conduct.
The Federal Trade Commission and the state of Arkansas sued the operators of a “blessing loom” investment program, alleging that it has operated as an illegal pyramid scheme that bilked tens of millions of dollars from thousands of consumers, and targeted African Americans and harmed people struggling financially during the COVID-19 pandemic.
In their joint complaint, the FTC and Arkansas charged that the operators of Blessings in No Time (“BINT”) have lured people into joining their program by falsely promising investment returns as high as 800 percent. The complaint alleges that some BINT members paid as much as $62,700 to participate. In reality, though, as in other pyramid schemes, the vast majority of participants have lost money, the complaint alleges.
BINT’s operators are banned from the business of multi-level marketing as a result of enforcement actions taken by the Federal Trade Commission and the State of Arkansas alleging the operation of an illegal pyramid scheme.
In May 2021, the FTC filed a complaint against Kushly Industries LLC and its CEO, Cody Alt, for allegedly marketing products containing cannabidiol (CBD) using unsubstantiated health and establishment claims. According to the complaint Kushly sold a variety of CBD products to the public through its website, kushly.com, and social media platforms from January 2019 to August 2020. The FTC order announced at the same time as the complaint banned the company and Alt from the alleged illegal conduct. The Commission approved the final order in July 2021. In August 2022, the FTC announced it was returning almost $21,000 to defrauded consumers.
Multi-level marketer AdvoCare International, L P and its former chief executive officer agreed to pay $150 million and be banned from the multi-level marketing business to resolve Federal Trade Commission charges that the company operated an illegal pyramid scheme that deceived consumers into believing that they could earn significant income as "distributors" of its health and wellness products. Two top promoters also settled charges that they promoted the illegal pyramid scheme and misled consumers about their income potential, agreeing to a multi-level marketing ban and a judgment of $4 million that will be suspended when they surrender substantial assets.
The operators of the MoviePass subscription service have agreed to settle Federal Trade Commission allegations they took steps to block subscribers from using the service as advertised, while also failing to secure subscribers’ personal data.The operators of the MoviePass subscription service have agreed to settle Federal Trade Commission allegations they took steps to block subscribers from using the service as advertised, while also failing to secure subscribers’ personal data.
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