ITV Ventures Lays Off 56 Employees
ITV Ventures, Beverly, MA, has laid off 56 employees, just weeks after a federal judge ruled that the company aired deceptive infomercials and must pay restitution, according to the Salem (MA) News.
The Federal Trade Commission is seeking up to $55 million in restitution to customers for infomercials touting products that the company claimed would cure cancer, heart disease, diabetes and other ailments.
ITV’s lawyer, Michael Sciucco, said there could be more layoffs in the future.
The FTC first charged ITV and other four years ago with falsely claiming that their products can prevent and cure cancer and other diseases (Direct Newsline, Jun 3, 2004).
According to the FTC’s complaint, Boston-area marketers Direct Marketing Concepts, Inc. (DMC), ITV Direct, Inc. (ITV), and Donald Barrett (Barrett), along with their business partners, California corporations Healthy Solutions, LLC and Health Solutions, Inc., and their principals Alejandro Guerrero (a.k.a. Alex Guerrero), Michael Howell, and Greg Geremesz; and Wayne, Pennsylvania-based Triad ML Marketing, Inc., King Media, Inc., and Allen Stern, sold “Supreme Greens with MSM” and “Coral Calcium Daily” to consumers through two widely-aired infomercials.
Despite rumors, Sciucco said there are no plans to close, or file for bankruptcy protection.
