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Article: INVENTION PROMOTION SWINDLERS ORDERED TO PAY $60 MILLION IN SCHEME THAT DEFRAUDED 17,000 CONSUMERS
- Article from:
- US Fed News Service, Including US State News
- Article date:
- September 6, 2007
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The Federal Trade Commission issued the following press release:
The operators of an invention promotion business, which a judge called "one grand con game to take money away from consumers," have been ordered to pay $60 million for violating a 1998 court order.
"By changing the name of their company, these individuals thought they could continue to make false promises and take inventors' money, but they didn't get away with it," said Lydia Parnes, Director of the FTC's Bureau of Consumer Protection. "This scam should also remind inventors to question the assurances of promotion firms. No one can guarantee an invention's commercial success."
Under the 1998 order, Julian Gumpel, Darrell ...