Why is the government cracking down on get rich quick schemes?
The economic downturn appears to be bringing out the worst in some people. The Federal Trade Commission has announced a major crackdown on those trying to take advantage of people worried about the tough economy by promising jobs that don’t exist, get-rich-quick schemes and other phony services. One of the 15 cases announced by the FTC _ as part of “Operation Short Change” _ involved a company that marketed infomercials for “John Beck’s Free & Clear Real Estate System” and other alleged get-rich schemes. The FTC said the defendants made bogus claims about the ability to raise cash fast. The agency said that more than 600,000 people were duped out of about $300 million. The sweep also included dozens of additional cases filed by the Justice Department and at least 13 states. Sources: http://www.cbsnews.com/stories/2009/07/01/ap/government/main5127787.
WASHINGTON — The economic downturn appears to be bringing out the worst in some people. The Federal Trade Commission has announced a major crackdown on those trying to take advantage of people worried about the tough economy by promising jobs that don’t exist, get-rich-quick schemes and other phony services. One of the 15 cases announced by the FTC _ as part of “Operation Short Change” _ involved a company that marketed infomercials for “John Beck’s Free & Clear Real Estate System” and other alleged get-rich schemes. The FTC said the defendants made bogus claims about the ability to raise cash fast. The agency said that more than 600,000 people were duped out of about $300 million. The sweep also included dozens of additional cases filed by the Justice Department and at least 13 states. Sources: http://www.huffingtonpost.com/2009/07/01/government-cracking-down-_n_224026.
