Money Now Funding Scam Victims Receive Money Back
The Federal Trade Commission is mailing 2,031 checks totaling more than $436,000 to people who lost money to Money Now Funding, a work-at-home scheme that conned people, including many seniors with limited income and savings, into thinking they could make money by referring merchants in their area to a non-existent money-lending service.
Here is how they described their business opportunity:
The crunch in the lending market has made it even more difficult for Business owners to stay competitive in today’s economy. Lack of cash flow is the number one reason that businesses fail to succeed.
At MoneyNowFunding.com we offer a simple way for you to get the money your business needs. It’s quick, it’s easy, there are no fixed monthly payments, and there are no personal guarantees.
Your Business could be approved within 24 hours, and get the funds you need in as little as 7 days. Traditional lending sources are costly, and often unavailable to most merchants, plus traditional lenders always look for collateral and personal guarantees.
With MoneyNowFunding.com you now have the opportunity of obtaining the money your business needs when you need it with no collateral or personal guarantees! – Source Moneynowfunding.com
“Money Now Funding,” tried to avoid detection by law enforcement by changing product names, office locations, and merchant identities. They falsely claimed consumers would earn up to $3,000 per month by referring small businesses to the defendants to obtain loans. After victims paid up to $499 to buy the business opportunity, the defendants told them that, to succeed, they had to buy sales leads that cost tens of thousands of dollars but turned out to be worthless.
They cheated American and Canadian victims out of more than $7 million.
Here are the people and the companies that were involved in this scam:
Lukeroy K. Rose, Leary Darling, Solana DePaola, Lance Himes, Cordell Bess, Cynthia Miller, Clinton Rackley, and Richard Frost, and 10 companies: Money Now Funding LLC, Rose Marketing LLC, DePaola Marketing LLC, Affiliate Marketing Group LLC, Affinity Technologies LLC, Global Network Marketing LLC, Precise Payroll Services LLC, Strategic Media Advertising LLC, Legal Doxs LLC, and US Doc Assist LLC.
People who lost money will get an average of $214.68. Recipients should deposit or cash checks within 60 days. The FTC never requires people to pay money or provide account information to cash refund checks.
If you have questions about the case, contact the FTC’s refund administrator, Rust Consulting, Inc., at 800-419-5336. To learn more about the FTC’s refund program, visit www.ftc.gov/refunds.