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The Federal Trade Commission (FTC) has announced it is sending out refund checks and payments in four consumer cases for November.
Bitcoin Funding Team Refunds
The FTC has issued refund checks totaling more than $470,000 via PayPal to consumers who lost money in deceptive cryptocurrency “chain referral schemes.”
Defendants in the case falsely told participants they would earn a lot of money by paying cryptocurrencies such as Bitcoin to enroll in schemes known as Bitcoin Funding Team and My7Network, according to the FTC.
Jetcoin, a third program, claimed people investing in bitcoin through the program could see that investment quickly double, the FTC said, with traders allegedly working behind the scenes. However, Jetcoin shut down after operating for only a few weeks, and customers’ investments vanished.
Those schemes allegedly turned out to be chain referral schemes, the success of which depends on new people being recruited. Most individuals involved failed to even get back their initial investment.
Those who receive a refund through PayPal will have 30 days to accept it.
Those who did not receive a refund but think they should have, or those with any questions, are urged to contact the refund administrator, Rust Consulting Inc., at 1-866-591-7254 or admin@BitcoinFundingRefund.com.
Grand Teton Refunds
The FTC is sending refund checks totaling $150,000 to people who lost money to Grand Teton Professionals’ credit repair scheme.
According to the FTC, Grand Teton Professionals promised consumers it could improve their credit reports by removing negative items and “hard” credit inquiries that often change credit scores.
Grand Teton Professionals also illegally charged fees for their services upfront, telling consumers to mislead their credit bureaus and lenders. The company also threatened to sue customers who complained or disputed Grand Teton’s charges.
The FTC warns consumers who are attempting to clean up their credit that there is no quick fix.
While many companies offer what may look like an easy fix, any that are offering to sell consumers instant results are most likely a scam.
In the case of Grand Teton Professionals, the company charged hundreds or thousands of dollars for its services.
Grand Teton’s customers didn’t see a significant change in their credit scores, according to the FTC.
Refunds of about $53 each will be sent to 2,782 customers via PayPal, the FTC said. Those who receive the payment will have 30 days to accept it.
Consumers who believe they are entitled to a refund but do not get one should contact refund administrator Analytics at 844-965-2441.
Bronx Honda Refunds
Nearly 4,000 individuals affected by Bronx Honda’s unlawful and discriminatory practices will be receiving refund checks.
The FTC is issuing refunds of about $371 each to 3,977 victims, for a total of nearly $1.5 million.
Bronx Honda and its general manager instructed salespeople to charge Black and Hispanic customers higher fees and financing markups, the FTC said.
In addition, Bronx Honda did not honor its advertised sale prices, changed vehicle sale prices on paperwork midway through the sales process without telling the buyer, double-charged taxes and fees without customers’ knowledge, and told customers they had to pay unnecessary fees in order to buy “certified pre-owned” vehicles, according to the FTC.
The FTC recommends consumers shop and compare several dealers’ offers before buying a vehicle in order to avoid paying too much.
Consumers also are encouraged to investigate banks’ and credit unions’ financing options in addition to the dealerships’, and to ensure all the dealer’s promises and terms are in writing before signing the purchase paperwork.
Consumers who financed a purchase from Bronx Honda between 2016 and 2018 and haven’t requested a refund, as well as those with questions about their refund checks, are urged to contact JND Legal Administration at 888-921-0727.
Tarr Refunds
A second round of refund checks is being sent to individuals who bought health products from Tarr Inc.
Tarr allegedly used fake news and magazine sites, false testimonials, unsupported claims, and fake celebrity endorsements to sell more than 40 products related to reducing wrinkles, losing weight, and building muscle, according to the FTC.
The first round of refund checks went out in February 2019.
However, because money remains in the fund, the FTC is mailing out another 64,610 checks totaling nearly $2 million to people who cashed the first check.
Checks must be cashed within 60 days, the FTC said.
Anyone with questions about the case may contact the refund administrator Epiq at 877-861-1501.
The FTC never requires a payment from consumers in order to get a refund.
Have you received one of the FTC’s refund checks? Let us know in the comments.
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