CHICOPEE, Mass. (WWLP)– A Great Barrington investment company has been ordered to pay $3-million in refunds to customers after being charged with making misleading claims of big investment gains.
Warrior Trading and its CEO, Ross Cameron, were charged by the Federal Trade Commission (FTC) under the Federal Trade Commission Act and the Telemarketing and Consumer Fraud and Abuse Prevention Act with “deceptive and unlawful advertising marketing, promoting, distribution, and selling of day-trading strategies and related goods and services to consumers throughout the United States,” according to court documents filed in the U.S. District Court for the Western District of Massachusetts.
The FTC’s complaint says that Warrior Trading urged investors to purchase their day-trading strategies and related courses, workshops, programs, and tools, saying they were opportunities to profit substantially and consistently. Investigators found that most customers lost money in their investments in addition to the amounts they paid to the company for their programs.
Under the court order agreed to by the FTC and Warrior Trading, the defendants must:
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