I first reported to you about these particular scammers in December of 2017 when the Federal Trade Commission (FTC) filed a complaint in Federal Court against Ronnie Montano, Hyong Su Kim, Martin Schranz and their companies that the FTC alleged they used to scam consumers out of millions of dollars through sales of phony get-rich-quick schemes through which the defendants promised their victims that they could earns thousands of dollars a day using the defendants’ secret code. The defendants’ “secret code” was nothing more than generic software applications used to make mobile-friendly websites and the promised riches were non-existent. The defendants sold their products through their websites which had names such as mobilemoneycode.com, automobilecode.com and secretmoneysystem.com which featured phony testimonial videos with actors falsely claiming they made thousands of dollars a day using the defendants’ products and systems. Victims of the scam who tried to exercise their “60 day hassle-free money back guarantee” found it all but impossible to get a refund. Recently the FTC settled the claims with the defendants. Under the terms of the settlement, the defendants will be paying $698,500 to the FTC to be refunded to their victims. I will let you know more about the details of this refund as they become available. The defendants are also prohibited from marketing similar scams. As with just about all FTC settlements of this nature, the defendants do not admit to any wrong doing while at the same time promising not to do it again.
As with any investment, if it sounds too good to be true, it usually is. You also should never invest in anything that you do not fully understand. In addition, you should never invest in anything unless you have investigated fully both the investment itself and the people offering the investment. Anyone investigating what was being offered by these alleged scammers would have found that there was no secret system and that the investment was bogus.
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