Tag: Consumer Protection

In November 2022, the FTC filed a complaint in court seeing civil penalties against California-based Precision Patient Outcomes, Inc. and the company’s CEO Margrett Priest Lewis for marketing an over-the-counter dietary supplement containing nothing more than vitamins, zinc, and a flavonoid as an effective treatment to mitigate the effects of COVID-19. In February 2024, the FTC announced an order settling its allegations that bars the defendants from the alleged deceptive practices.

The FTC filed a complaint against RCG Advances, LLC—formerly known as Richmond Capital Group, LLC, and also doing business as Viceroy Capital Funding and Ram Capital Funding—and a related entity and individuals. The complaint alleges that, since at least 2015, the defendants have deceived small businesses and other organizations by misrepresenting the terms of merchant cash advances they provided, and then used unfair collection practices, including threatening physical violence, to compel consumers to pay. The FTC also alleges that defendants have made unauthorized withdrawals from consumers’ accounts.

RCG Advances, LLC and Robert Giardina are permanently banned from the merchant cash advance industry for deceiving and threatening small businesses and their owners. In addition, the court ordered RCG Advances and Giardina to make an upfront payment of $1.5 million and subsequent payment of more than $1.2 million to refund consumers.

Jonathan Braun, who controlled small-business funding company RCG Advances, will face a permanent ban from the merchant cash advance and debt collection industries. A federal court issued summary judgment in favor of the FTC in the case along with a permanent injunction against Braun.

As a result of a Federal Trade Commission lawsuit, a federal court has entered a judgment requiring merchant cash advance operator Jonathan Braun to pay $20.3 million in monetary relief and civil penalties.