Two Elmira, NY-based financial direct marketers and their owner have agreed to pay approximately $350,000 to settle Federal Trade Commission charges that they deceptively marketed two advance-fee grant and loan programs.
The programs were called Free Cash Grants and Borrowing Made Easier.
According to the FTC, Navestar D.M. Inc. Financial Services Network-USA, Inc. and their president, Paul Navestad violated the FTC Act and the Telemarketing Sales Rule by misrepresenting that consumers who purchased either of two programs were likely to receive grants and loans. They used direct mail, and direct response TV, radio and newspaper ads across the country.
In addition to paying the $350,000 in restitution, the defendants are permanently banned from advertising, marketing or selling any credit or grant-related goods or services.
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