Yet another Act 22 Puerto Rico company, The Federal Trade Commission and the Utah Division of Consumer Protection have named two additional defendants in their case against the operators of the Zurixx real estate investment training scheme. The FTC and the Division allege that Zurixx used deceptive promises of big profits in live sales events and telemarketing to lure consumers into spending thousands of dollars on Zurixx’s products and services.
The second amended complaint adds Utah-based CAC Investment Ventures, LLC as a defendant in the case, and Stephenie Spangler as a relief defendant, meaning that she is not accused of wrongdoing but allegedly received funds that Zurixx illegally obtained from consumers.
The FTC and the Division sued Zurixx in October 2019 and first amended their complaint in May 2020. The Court has issued a stipulated preliminary injunction against defendants. The receiver in the case has created a website with information for consumers who may have been affected at www.zurixx.com(link is external). Consumers may also share their experience regarding Zurixx at ftc.gov/complaint.
The Commission vote authorizing the staff to file the second amended complaint was 5-0. The complaint was filed in the U.S. District Court for the District of Utah.
NOTE: The Commission files a complaint when it has “reason to believe” that the named defendants are violating or are about to violate the law and it appears to the Commission that a proceeding is in the public interest. The case will be decided by the court.
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