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Educational Infomercials
Cape Coral, FL: (Jan-10-08) The Florida Attorney General's office brought charges against Whitney Information Network, and its companies, including Millionaire University and Whitney Intelligence Academy, alleging that they used deceptive advertising and misleading business practices. The suit claimed that the companies made misleading statements in infomercials promoting educational and training seminars including "Teach Me to Trade" and "Star Trader", claiming to teach and train consumers on how to make money by investing in the stock market or in real estate.
The Attorney General's Office received more than 250 complaints that Whitney and its related companies used deceptive advertising through the use of testimonials from people claiming to have achieved success using Whitney's products or through inaccurate statements about what would be taught in seminars. The customers stated that instead of specialized training that was advertised, they were given rudimentary training with enticements for customers to spend more money. As part of a settlement reached, the companies agreed to pay $1 million in refunds. Additionally, the companies must also pay $150,000 to the Attorney General's Seniors vs. Crime program and reimburse the state $150,000 for the cost of its investigation. [ABC NEWS: EDUCATIONAL INFOMERCIALS]
Published on Jan-13-08
The Attorney General's Office received more than 250 complaints that Whitney and its related companies used deceptive advertising through the use of testimonials from people claiming to have achieved success using Whitney's products or through inaccurate statements about what would be taught in seminars. The customers stated that instead of specialized training that was advertised, they were given rudimentary training with enticements for customers to spend more money. As part of a settlement reached, the companies agreed to pay $1 million in refunds. Additionally, the companies must also pay $150,000 to the Attorney General's Seniors vs. Crime program and reimburse the state $150,000 for the cost of its investigation. [
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