The schemes used names like Lunar Capital, Econ Genie and Profitable Animation
TheFederal Trade Commission (FTC)has reached a settlement with two individuals and their companies who it said misled people with false promises of making big money by selling products onAmazon and Walmart.
Under the settlement,Trevor Duffy YoungandWessam Baiz, along with Baizs companies, will pay back hundreds of thousands of dollars made from the alleged scam. The businesses involved used names likeLunar Capital Ventures,Ecom Genie, andProfitable Automationand were previously known asValiant Consultants.
According to the FTC, Young and Baiz convinced consumers they could earn large profits by buying into ready-made online stores that would be managed for them. They promised some customers they could make over$100,000 a monthand even own amillion-dollar store.In reality, most peoplelost tens of thousands of dollars, and the promised profitsnever materialized.
Young, Baiz, and their companies took advantage of people who were looking for a way to invest their money, saidChristopher Mufarrige, Director of the FTCs Bureau of Consumer Protection. This action ensures theyre held accountable and banned from offering business opportunities in the future.
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What the settlement includes
- YoungandBaizare nowbanned from selling or promoting business opportunities.
- They are alsoprohibited from making false claimsabout any products or services they offer in the future.
- Baiz and his companies,Baiz SalesandSalespreneurs, must turn over their remaining assets and bank account funds to the FTC.
- Baiz faces a$13.9 million judgment, which is mostly suspended due to financial inability to pay.
- Young faces a$6 million judgment, also mostly suspended.
- If either man is found to have lied about their finances, theyll be forced to pay thefull amounts immediately.
The FTC first filed the lawsuit inOctober 2024, and this settlement marks a step forward in protecting consumers fromfake online business schemes.
Posted: 2025-03-25 17:01:11
