The Federal Trade Commission has declared a sweeping investigation into allegations of fraud by "get-rich-quick" schemes. Dubbed "Operation Short Change," the FTC and Justice Department are jointly investigating scammers.
According to estimates, these scams, have bilked $300 million out of more than 600,000 people. Many of the schemes revolve around making large amounts of money quickly.
Among the investigations, one of the largest involve "John Beck's Free and Clear Real Estate System.
"The FTC says the company made bogus claims through DVDs, brochures and national infomercials about the ability to raise cash fast."
The task force investigating these allegations are looking at 15 separate cases in a total of 13 states. While the investigations remain open, the likely motive, according to law enforcement, is greed. With the economic downturn, many see this as an opportunity to prey on those who are desperate for a job or money.
The participating states include: California, Florida, Illinois, Iowa, Kentucky, Louisiana, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Pennsylvania, Texas and Wisconsin.
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