The Federal Trade Commission has won a settlement with a marketer of so-called invention promotion services.
As part of the agreement, Michael S. Fleisher is banned from marketing such offerings. In addition, he will dismiss his appeal of an earlier contempt judgment.
The deal also stipulates that Fleisher cannot void his $59 million liability from the contempt action by filing for bankruptcy.
The FTC sued Fleisher in May, alleging that he misrepresented the benefits offered by Patent & Trademark Institute (PTI).
According to the commission, PTI stated that purchase of these services would likely lead to financial gain for the consumer, and that the firm evaluated the potential of consumers
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