FTC Wins $10M, Shuts Down Alleged Debt Relief Scammer

Law360, New York (September 10, 2013, 1:34 PM EDT) -- The Federal Trade Commission on Monday secured a permanent injunction and nearly $10 million in relief in its case against a Florida company accused of targeting financially strapped consumers through a bogus debt reduction telemarketing scam.

In a final judgment entered by U.S. District Court Judge Virginia M. Hernandez Covington, Innovative Wealth Builders Inc. and its principals were ordered to pay $9.9 million and barred from engaging in telemarketing or offering debt relief or financial products to consumers.

According to the agency, IWB cold-called customers with...
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