US FTC: Internet Mall promoters settle FTC charges.

0 Comments | M2 Presswire, April, 1999

M2 PRESSWIRE-16 April 1999-US FTC: Internet Mall promoters settle FTC charges (C)1994-99 M2 COMMUNICATIONS LTD RDATE:150499 -- Earnings claims for Internet-based businesses were false Internet commerce site iMall and two former principals have agreed to pay $4 million to settle Federal Trade Commission charges that they made false earnings claims for Internet-based businesses they promoted and that they violated the Franchise Rule.

Craig R. Pickering and Mark R. Comer, two past presidents of iMall, also would be barred for life from selling any Internet or pay-per-call business opportunity; barred for 10 years from selling franchises; required to post a $500,000 bond before selling certain types of business opportunities; and barred from violating the...