This year, the Federal Trade Commission has prosecuted several scams that sell Amazon ecommerce store management services. The fraudsters typically tell their victims that it is possible to make hundreds of thousands of dollars in passive income by owning successful online Amazon stores and stocking them with inventory. The victims then pay the fraudsters a…
Continue reading ›Introduction Fraudulent investment schemes have wreaked havoc on countless lives, and one of the most egregious cases to surface recently involves Wealth Assistants. We previously announced that a Court ordered an asset freeze against Wealth Assistants. Wealth Assistants’ complex network of individuals and entities perpetrated a widespread scam, targeting over 600 victims and swindling over…
Continue reading ›On November 14, 2024, the Federal Trade Commission will hold a hearing at which members of the public are invited to address the Commission. Banks Law Office attorney Nico Banks plans to attend the hearing to comment on “Fulfillment by Amazon” business opportunity scams, including Wealth Assistants. Ahead of that hearing, he has submitted the…
Continue reading ›Business Insider reported today about an asset freeze ordered for the owners of Wealth Assistants. The recent decision by the US District Court for the Central District of California to freeze the assets of the defendants is a crucial step towards holding them accountable and ensuring that funds are available for potential restitution. However, Banks…
Continue reading ›Business Insider has taken an interest in our fight against Wealth Assitants. They recently wrote about our case in this article: More than 60 former Wealth Assistants clients sued the get-rich-on-Amazon startup, claiming they were defrauded out of millions. If you are a victim of Wealth Assitant’s misrepresentations, please contact us. You can review our…
Continue reading ›Banks Law Office represents over 100 individuals who were victims of an investment scam largely perpetrated by a company called Wealth Assistants. A summary of our First Amended Complaint, filed in California Superior Court, is shown below. If you were a victim of Wealth Assistants, please contact us today.
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