426 Victims of DVD Vending Machine Scam to Be Refunded by FTC

The US Federal Trade Commission is preparing to mail out 426 refund checks to the victims of a DVD rental machines scam. A total of $950,000 (€717,000) will be sent out to victims.

This is actually the second round of refunds made by the FTC. Back in June 2012, the organization mailed 454 refund checks totaling over $2.9 million (€2.2 million).

The scammers, operating under American Entertainment Distributors, tricked customers into paying them between $28,000 (€21,100) and $37,500 (€28,000) for video rental vending machines.

The fraudsters promised that investors would make between $60,000 (€45,000) and $80,000 (€60,000) per year, or they would recover their initial investment in 6 to 14 months.

In reality, the FTC has determined that the defendants had no basis to make such claims. All investors lost money.

The refund checks will be mailed on August 30, 2013. They must be cashed by October 29, 2013.

In case you’re one of the victims and you need additional details, call the Redress Administrator, Gilardi & Co. LLC at 1-866-271-9147 (toll-free number).