Ivy Capital Inc. and 29 co-defendants* allegedly have taken more than
$40 million from people who paid thousands of dollars believing Ivy Capital would help them develop their own Internet businesses and earn up to $10,000 per month. According to the FTC’s
complaint, Ivy Capital’s telemarketers asked consumers how much credit they had on their credit cards and then talked them into using a substantial portion of their available credit to purchase a business coaching program. But the promised products and services were worthless, the complaint alleged. Ivy Capital’s “expert” coaches lacked the promised knowledge and experience, its website-building software programs did not work properly, and the lawyers and accountants the defendants said would provide assistance were nonexistent.
Consumers paid up to $20,000 for a business coaching program and related products and services but got very little in return.
