Get Rich Scheme

Los Angeles, CA: (Dec-31-07) The Federal Trade Commission (FTC) filed charges against J.W. McLain and family members, alleging that they defrauded consumers by enrolling them in a fake get rich scheme. Ascribing his inspiration came from a divine source, J.W. McLain held healthcare conferences at hotels and convention centers. At these venues, he and his sons sold business ventures for more than $2,000 apiece, alleging that they would grow into a multimillion-dollar business in one year or less. The FTC accused the family of selling herbal teas that purportedly prevented or cured AIDS, arthritis, cancer, diabetes, heart disease, strokes and lupus. The commission charged that the ventures were bogus. Sources close to the case stated that as part of a settlement reached with the FTC, McLain and family members agreed to an order against them for more than $26.5 million. The McLains claimed that they were unable to pay the amount, so the agency said it would instead take frozen assets and proceeds from their various enterprises. [LOS ANGELES TIMES: BUSINESS VENTURE SCHEME]

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Published on Jan-2-08