FTC seeks $450M judgment against infomercials

May 1, 2012 5:40:23 PM PDT
The marketers of three "get rich quick" schemes could get a whole lot poorer soon. Federal regulators are seeking a $450 million judgment against the makers of three infomercials --all found by a judge to have misled consumers into thinking they could make easy money.

The marketers are behind the infomercials for John Alexander's Real Estate Riches in 14 Days, Jeff Paul's Shortcuts To Internet Millions and John Beck's Free & Clear Real Estate System.

A federal judge in Central California ruled late last month the marketers falsely misrepresented their programs, and tricked consumers into thinking they could make big money quick. The Federal Trade Commission alleges less than 1 percent of consumers made any profit at all.

People paid $40 a month to join the programs. The judge must now decide how much the defendants must pay in damages.