FTC Shuts Down Proper Property Seminars Endorsed by Flip or Flop Stars

FTC Shuts Down Proper Property Seminars Endorsed by Flip or Flop Stars

Describe: AP

The FTC has keep a quit (temporarily no lower than) to real property seminars endorsed Flip or Flop stars Tarek El Moussa and Christina Anstead and utterly different “flipper” TV personalities, alleging misleading and untrue industry practices.

The Hollywood Reporter said that a court has issued a restraining expose in opposition to the “free” programs by an group known as Zurixx LLC, to boot to freezing the firm’s resources. The FTC complaint accuses the Zurixx of “untrue guarantees of mountainous earnings to lure patrons into real property seminars costing 1000’s of dollars,” and the associated rate explained:

Zurixx purports to provide patrons instructing and coaching on straightforward techniques to form gigantic sums of money by purchasing houses and rapidly updating and reselling them, a convention identified as “flipping.” Its commercials robotically feature endorsements from celebrities love Tarek and Christina El Moussa from HGTV’s “Flip or Flop,” Hilary Farr from HGTV’s “Savor It or List It,” and Peter Souhleris and Dave Seymour from A&E’s “Flipping Boston.” The commercials entice patrons to free events that Zurixx claimed would educate patrons straightforward techniques to form gigantic earnings by flipping “using utterly different of us’s cash.”

“From originate to finish, these defendants primitive the promise of straightforward cash and in-depth data to lure patrons down a path that will rate them 1000’s of dollars and keep them in serious debt,” said Andrew Smith, director of the FTC’s Bureau of Person Protection. Zurixx said in an announcement they give the impact of being ahead to “a safe shatter consequence as we work straight and openly with the agencies racy.”

The contrivance it performed out, the Hollywood Reporter explained:

In its complaint Friday, the FTC said that Utah-basically based fully mostly Zurixx LLC would utilize free real property events endorsed by HGTV stars, including Tarek El Moussa and Christina Anstead of Flip or Flop popularity. But at the events, attendees could maybe be requested to pay for one other three-day class that rate $1,997. And of us that paid for those lessons could maybe be taught straightforward techniques to apply for designate new credit playing cards and lengthen the credit limits on fresh playing cards. Then, in step with the FTC, instructors would counsel using the credit to pay for additional coaching that rate bigger than $forty one,000.

The FTC additionally alleged that anybody who obtained a repayment used to be required “to keep an agreement barring them from talking with the FTC, converse attorneys overall, and utterly different regulators; submitting complaints to the Better Alternate Bureau; or posting negative opinions about Zurixx.”

Moreover? Too many chevrons and too considerable teal.

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November 8, 2019

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