Regulators target wireless cable mills. (Federal Communications Commission, Federal Trade Commission; telemarketing operations scams on wireless cable investments)
Multichannel News, November, 1991 by Higgins, John M.
Regulators Target Wireless Cable Mills Regulators across the country are scrambling to halt a group of telephone sales operations that they charge lure consumers into wireless cable investments with misleading promises and wildly optimistic profit projections. Fighting these pitches has become a top priority for regulators who investigate potential investment scams.
"Application mills" are telemarketing operations that solicit investors to apply with the Federal Communications Commission for wireless cable licenses, which are awarded in a lottery. For a fee of several thousand dollars, the mills prepare the applications, then offer to group investors into an alliance to actually own and build the systems. The problem carries broader...
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