Fortune Learning Systems FTC UPDATE

FOR IMMEDIATE RELEASE
Pompano Beach, Florida, United States of America (Free-Press-Release.com) February 17, 2012 -- Fortune Learning Systems FTC UPDATE

Fortune Learning Systems FTC UPDATE- On March 2, 2011, the Federal Trade Commission (FTC) released news which stated the following about Ivy Capital:The FTC today announced three new law enforcement actions and developments in seven other matters. Have you been contacted by Fortune Learning Systems FTC UPDATE see below update.

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Fortune Learning Systems FTC UPDATE

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Ivy Capital Inc. and 29 co-defendants* allegedly have taken more than $40 million from people who paid thousands of dollars believing Ivy Capital would help them develop their own Internet businesses and earn up to $10,000 per month. According to the FTC’s complaint, Ivy Capital’s telemarketers asked consumers how much credit they had on their credit cards and then talked them into using a substantial portion of their available credit to purchase a business coaching program. But the promised products and services were worthless, the complaint alleged. Ivy Capital’s “expert” coaches lacked the promised knowledge and experience, its website-building software programs did not work properly, and the lawyers and accountants the defendants said would provide assistance were nonexistent. Consumers paid up to $20,000 for a business coaching program and related products and services but got very little in return.

As alleged in the FTC’s complaint, Ivy Capital’s telemarketers called people who responded to e-mail and advertising about work-at-home or Internet business opportunities from companies such as Jennifer Johnson’s Home Job Placement Program and Brent Austin’s Automated Wealth System. The ads originated from fictional companies Ivy Capital created to generate sales leads – potential customers’ names and phone numbers – for its operation. The complaint further alleged that in calls that could last for more than an hour, Ivy Capital’s telemarketers used high-pressure sales and promised consumers they could make thousands of dollars a week working just 5 to 10 hours. Shortly after signing up for the program, consumers received sales calls from companies affiliated with Ivy Capital offering additional business services, including access to credit, expert tax advice, and other services that could cost thousands of dollars in addition to the original fee. Ivy Capital offered a refund program that, in practice, made it difficult for people to get their money back if they cancelled. According to the FTC complaint, some consumers who repeatedly complained to state and federal agencies were offered refunds, but only if they agreed not to publicly disparage the defendants and kept their refunds confidential.

The Ivy Capital defendants allegedly misrepresented their program’s earning potential, misrepresented the goods and services they would provide, and failed to fully disclose and honor their refund policy, in violation of the FTC Act. They allegedly misrepresented their services, failed to fully disclose their refund policy, called telephone numbers on the Do Not Call Registry, and did not pay the fee for accessing the Registry, in violation of the Telemarketing Sales Rule.

The Commission vote authorizing the staff to file the complaint was 5-0. The complaint was filed in the U.S. District Court for the District of Nevada. On February 22, 2011, the FTC obtained an order that temporarily halted Ivy Capital’s unlawful practices, froze assets, and appointed a receiver to take control of the corporate defendants.

In addition, the FTC has filed for an Ex Parte Temporary Restraining Order.

FIAD Services states that consumers should beware of companies such as Fortune Learning Systems, Fidelity Merchant Solutions, Economic Freedom Corp, Matrix Marketing, World Wide Marketing and Associates, Fortune Learning Systems, Solid Ad Solutions, Stores Online, The Tax Club, Professional Marketing International (PMI), Myebizpro.com (MyEbix), Prompt Advertising, Precision Marketing and many more companies. There is a list on FIAD Services website of known companies. To learn more about FIAD Services and the Telemarketing Companies that are known to take advantage of consumers, go to www.fiadservices.com or if you are a victim, call FIAD Services at 800-753-6724.

More information can be found online at http://www.fiadservices.com

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