Another Mooch List
According to a recent FTC Press Release, "A company that once claimed it could lower people's income taxes has agreed not to engage in any future business under a proposed settlement with the Federal Trade Commission.
National Audit Defense Network Inc. (NADN), charged in an FTC complaint with failing to honor its refund promises in violation of Section 5 of the FTC Act and failing to provide refunds in the time required by the Truth in Lending Act, went out of business and filed for Chapter 7 bankruptcy in 2004, after filing for Chapter 11 reorganization in 2003. Under the proposed settlement, NADN's bankruptcy trustee agrees not to seek court authorization to operate the business, and will notify the FTC before selling any NADN customer database, to enable the FTC to object to such a sale." (my emphasis)
What are the chances that this list has already found its way into the hands of fraudulent business opportunities resellers?
Technorati Tags: ftc act, ftc complaint, chapter 7 bankruptcy, bankruptcy trustee, nadn, fraudulent business opportunities, truth in lending act, future business, income taxes, truth in lending, audit defense, national audit, court authorization, customer database, chapter 11, reorganization
