FTC Settles Complaint Involving ‘Credit Card’ Telemarketing

The Federal Trade Commission reached a court settlement with Robert James Fischbach to settle a complaint involving alleged violations of the FTC Act and Telemarketing Sales Rule.

Fischbach and his Florida-based companies Financial Enterprises LLC, Infinite Financial and Financial Benefit Exchange; and National Benefit Exchange were accused selling “credit cards” for upfront fees ranging from $200 to $300, which could only be used to purchase products from Fischbach’s catalog or Web site.

The FTC obtained a judgment from the U.S. District Court for the Middle District of Florida, Tampa Division, for more than $2.4 million and forfeiture of assets, which total $15,895. Most of the judgment was suspended, due to Fischbach’s inability to pay.

The court ordered Fischbach not to make any misrepresentatives alleged in the FTC’s complaint. It also prohibits him from selling any of his customer lists. He was also ordered to cooperate with the FTC for ongoing monitoring of his business activities.