SANTA ANA — A Santa Ana federal judge has permanently shut down the Growth Cave scam, a phony business opportunity and credit repair scheme that stole nearly $50 million from consumers since 2020, the Federal Trade Commission announced Wednesday.
The FTC filed suit last year against the San Fernando Valley-based operation and its leaders — Lucas Lee-Tyson, Osmany “Ozzie Blessed” Batte and Jordan Marksberry — accusing them of deceptive marketing and false income promises.
As part of the settlement, Growth Cave’s executives will be required to liquidate millions of dollars in assets, including a multimillion-dollar house in Woodland Hills, a Rolls-Royce, a Ferrari and other luxury vehicles, to provide consumer redress.
Growth Cave lured consumers through YouTube ads and email marketing, selling an online program called Knowledge Business Accelerator. The scheme promised participants they could earn $20,000 to $50,000 in passive income by creating and selling digital education programs.
However, the FTC said the operation regularly failed to deliver the promised results while costing consumers thousands of dollars. The amended complaint also alleges that consumers had trouble reaching Growth Cave employees and obtaining customer support.
The FTC won court orders banning the defendants from selling and marketing — or assisting others in selling or marketing — business opportunities and from engaging in credit repair activities. The defendants are also prohibited from making misleading representations related to earnings claims, testimonials, and the use of artificial intelligence.
U.S. District Judge David Carter also imposed judgments of $48.5 million against the defendants, which will be partially suspended based on their inability to pay, according to papers filed last week.
Related Articles
Long Beach man with homemade bomb pleads guilty to sending cash to ISIS Detainees, LA nonprofit file suit alleging inhumane conditions in Adelanto ICE detention center Woodland Hills business must pay more than $1.5 million after COVID-19 business loan fraud Mom arrested after baby falls out of SUV in Fullerton, police say Alleged San Pedro gang member shot off-duty Monterey Park officer for refusing to give up car, prosecutor says
Hence then, the article about judge shuts down san fernando valley based firm accused of stealing nearly 50 million from consumers was published today ( ) and is available on Los Angeles Daily News ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Judge shuts down San Fernando Valley-based firm accused of stealing nearly $50 million from consumers )
Also on site :