The Federal Trade Commission launched a proceeding to challenge bogus money-making claims used to lure consumers, workers, and prospective entrepreneurs into risky business ventures that often turn into dead-end debt traps. If finalized, a rule in this area would allow the Commission to recover redress for defrauded consumers, and seek steep penalties against the multilevel marketers, for-profit colleges, “gig economy” platforms, and other bad actors who prey on people’s hopes for economic advancement.
“Consumers, workers, and prospective entrepreneurs are being bombarded with so-called money-making opportunities that promise the world but leave them deeply in debt,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “The FTC will use every tool in its toolbox to deter this economic exploitation and compensate people who got conned.”
Consumers face claims about how much money they can make across a significant swath of the economy. Whether seeking a new job, thinking of opening a business or participating in other money-making opportunities, or just looking to pursue an education, consumers are inundated with claims from businesses about how much money they will or could make.
The Commission has taken aggressive law enforcement action against coaching or mentoring schemes, multi-level marketing companies, work-from-home, e-commerce, or other business opportunity scams, chain referral schemes, gig companies and employers, job scams, and businesses...
Pakistani actress and model Ayesha Omar has strongly denied a controversial statement falsely attributed to her on social media. In recent days, a statement circulated online claiming that the act...