Beware of Giving Fake Testimonials (FTC Fine) Get Rich Quick Schemes
FTC Charges Promissory Note Pitchman With Deceiving Consumers
These claims allegedly were supported by "testimonials" from consumers who claimed to have made "$1.2 million in 30 days," "$79,000 in a few hours," and "$262,216 part time," for example. "In less than 30 days, I closed two transactions and I netted 1 point - a little bit over $1.2 million," a testimonial by "Don B." from New York stated ...
Finally, the FTC and Colorado Attorney General charged Marsha Kellogg - one of the consumers who provided a testimonial in an infomercial - with falsely claiming that she earned $79,975.01 from one promissory note transaction using Dalbey's program, and that her total earnings were more than $134,000. The complaint alleges that Kellogg made this statement even though she earned $50,000 less than what she claimed.
Kellogg has agreed to an order settling the FTC charges against her. The order is the FTC's first against a consumer charged with making misrepresentations in a product or service testimonial. It prohibits Kellogg from making several types of misrepresentations in the future. In addition, Kellogg has agreed to cooperate with law enforcers in their case against the remaining defendants.
The Commission voted 5-0 to authorize the staff to file the complaint and to approve the order settling the charges against Kellogg. The complaint was filed in the U.S. District Court for the District of Colorado on May 23, 2011, and names Russell T. Dalbey; DEI, LLLP; Dalbey Education Institute, LLC; IPME, LLLP; Catherine L. Dalbey; and Marsha Kellogg.
Information for consumers about how to spot and avoid investment fraud, "get-rich-quick" schemes, and other types of wealth-building scams can be found here, on the FTC's "Money Matters" website.
These claims allegedly were supported by "testimonials" from consumers who claimed to have made "$1.2 million in 30 days," "$79,000 in a few hours," and "$262,216 part time," for example. "In less than 30 days, I closed two transactions and I netted 1 point - a little bit over $1.2 million," a testimonial by "Don B." from New York stated ...
Finally, the FTC and Colorado Attorney General charged Marsha Kellogg - one of the consumers who provided a testimonial in an infomercial - with falsely claiming that she earned $79,975.01 from one promissory note transaction using Dalbey's program, and that her total earnings were more than $134,000. The complaint alleges that Kellogg made this statement even though she earned $50,000 less than what she claimed.
Kellogg has agreed to an order settling the FTC charges against her. The order is the FTC's first against a consumer charged with making misrepresentations in a product or service testimonial. It prohibits Kellogg from making several types of misrepresentations in the future. In addition, Kellogg has agreed to cooperate with law enforcers in their case against the remaining defendants.
The Commission voted 5-0 to authorize the staff to file the complaint and to approve the order settling the charges against Kellogg. The complaint was filed in the U.S. District Court for the District of Colorado on May 23, 2011, and names Russell T. Dalbey; DEI, LLLP; Dalbey Education Institute, LLC; IPME, LLLP; Catherine L. Dalbey; and Marsha Kellogg.
Information for consumers about how to spot and avoid investment fraud, "get-rich-quick" schemes, and other types of wealth-building scams can be found here, on the FTC's "Money Matters" website.
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