THE Federal Commerce Commission (FTC) said that two operators of an alleged scam of commercial electronic trade opportunities agreed to settle the accusations.
Trevor Duffy Young and Wessam Baiz, as well as companies associated with Baiz, will refer the profits they have made from the alleged scam, will be prohibited from any involvement in any commercial opportunity and will be prohibited from deceiving consumers on any good or service that they sell or market or marketThe FTC said in a Monday, March 24) press release.
THE Companies associated with Baiz include Lunar Capital Ventures, Ecom Genie, profitable automation and Valiant Consultants, according to the press release.
The FTC case against the other accused is underway, the statement said.
“Young, Baiz And The Baiz companies were part of a misleading operation that took advantage of consumers who sought to invest their hard money, only to learn that the promises of successful electronic commerce were a total imposture, ” Christopher MUFARRIGEsaid the director of the FTC consumer protection office in the press release. “Today’s action is due to these responsible defendants by prohibiting them from marketing or selling commercial opportunities and requiring payments to fraud customers.”
The FTC declared on October 28 that its trial alleging online ” Trade opportunities scam“Led a federal court to temporarily close the operations of Companies.
The agency allegedly alleged that companies claimed that consumers could gain “sumptuous” profits by paying tens of thousands of dollars to start online commerce companiesBut most of them Consumers have lost significant sums.
The complaint allegedly alleged that companies have exploited the same regime since 2022, consumers have cheated on And failed to provide them with disclosure required by the FTC’s commercial opportunity rule.
The FTC allegedly alleged that the commercial opportunity scam had taken In More than $ 12 million consumers.
The agency said March 14 That it is law application Directed $ 337.3 million in consumers in 2024, compared to $ 324 million in 2023.
“Putting money for people across the country is an absolute priority for the FTC,” said Mufarrige at the time in a press release. “We will tirelessly continue reimbursements for Americans who have lost money for illegal practices.”