Netvertise Inc., Elliot Krasnow

Aventura, FL: (May-16-07) The US Federal Trade Commission booked charges against Netvertise Inc., a web-design franchising company and owner Elliot Krasnow, alleging that Krasnow used bogus earnings claims to lure customers into buying their Web services franchises. The suit stated that between 2000 and 2005, Netvertise sold franchises for $20,000 to $100,000, and those franchises offered Internet services to small and medium-size businesses, the franchise included search engine optimizing software, which the company claimed would allow franchises to create high-quality Web sites that would appear on the first page of results at Google.com and other Internet search engines. When pitching the franchises, Netvertise sales representatives pressured prospective customers to increase sales projections, saying conservative estimates were too low. Krasnow also failed to tell customers that the FTC previously took action against him for deceptively promoting rare coins, causing him to repay $400,000 and prohibiting him from making misrepresentations when dealing in rare coins. under a settlement with the US Federal Trade Commission, Netvertise Inc. and Elliot Krasnow will return $160,000 to customers and are banned for life from selling franchises. [PC WORLD: FRANCHISE SCAM]

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Published on May-18-07