14 DAY TRIAL // Approximately $450 million (€315 million) were illegally obtained by a man who allegedly sold products and services on the internet and took advantage of hidden charge clauses to con people. The US Federal Trade Commission (FTC) heard of his operation and immediately shut it down.
V3 informs us that Jesse Willms is the head of the whole scam.
By hiding behind ten company names, he commercialized all sorts of products from personal care items to acai berry weight-loss pills and even health supplements . He offered users in the United States and other countries free product trials which were actually charged with up to $80 (€56) even if the customer didn't at any time agree to pay the amount.
After freezing Willms' assets, the court stated “Not only has [the FTC] shown a likelihood that Defendants have engaged in misleading marketing practices, but it has also shown that Defendants have moved substantial funds to offshore companies and bank accounts. . .”
To better hide his incomes, the man opened bank accounts in Cyprus where he also established several holding companies to facilitate international merchant banking.
Elizabeth Graver and her company Mobile Web Media LLC were also charged with aiding him by offering the necessary credit and debit card processing services.
During the trial, the accused parties are not imprisoned, but they are banned from selling or offering any products as free trial or as bonus and they're also forbidden of making any sort of internet transactions that might be misinterpreted or misleading.
It's very hard these days to keep track of our virtual possessions, with all the phone scams, phishing campaigns and malware attacks that are going on. As mentioned in other articles, the best thing you can do is be very cautious about every important online transaction and even though it's not an easy task, this way you'll at least have a better chance of keeping your bank account safe.