Ftc Fights Fraud From Scam Artist

The Federal Trade commission plans to award 1. 6 million dollars to thousands of consumers who were tricked into paying money that they did not owe by scam artists who used threats, harassment and lies to get them to pay up.

In 2003, the FTC sued three companies that were operating under the name, National Check Control.

They charged them with harassing and abusing customers.

The list of grievances included falsely threatening criminal prosecution, collecting amounts that were not due, illegally communicating with third parties and other violations of federal laws. Two years later the court put a permanent halt on their business and demanded that they to pay back the consumers they had scammed.

The defendants, Check Investors Inc, Check Enforcement Inc, Jaredco, Inc and the companies owner Barry Sussman attempted to appeal the case to the Third Circuit Court of Appeals and the Supreme Court but to no avail. One day after the appeals court did not agree to consider his appeal, Sussman suspiciously removed a number of coins valued at $335,000 from a bank safe deposit box.

The federal court ordered that he turn the coins over to the FTC to pay back the consumers who had been scammed. Later, a federal jury convicted him of two felony counts, one for theft of government property and one for the obstruction of justice. He was sentenced to forty one months in federal prison and is currently serving his sentence.

The FTC was able to retrieve 1. 6 million dollars to award the conned consumers.

They plan to distribute the funds to 24,916 victims who lost a hundred dollars or more as a result of the scam.

The consumers will begin to receive checks this month.

The Federal Trade Commission is responsible for putting an end to fraudulent, unfair, and deceptive practices that may be harmful to consumers.

Also, they provide information to help the consumer in seeing, stopping, and avoiding scams.
Mallory McGuinness is employed by a debt collection agency. She also does articlesabout finance and business, consumer spending and debt collection .

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