Money Now Funding LLC
Also known as: Money Now Funded, Cash4Businesses, CashFourBusinesses.
The FTC alleged that Money Now Funding sold a work-at-home opportunity based on referrals to a nonexistent lending service, made false earnings claims, and sold worthless leads. Court orders ended the operation, and the FTC later mailed refunds.
Resolved. Refunded, settled, ceased operating, or the claim did not hold up. Kept for the record.
Identity
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- Registrations
- FTC action against Money Now Funding LLC (U.S. District Court for the District of Arizona, 2013)
- Jurisdictions
- United States (federal)
Court orders ended the business opportunity operation
The Federal Trade Commission alleged that Money Now Funding and other defendants sold a work-at-home business opportunity built around a nonexistent money-lending service. Consumers were told they could earn up to $3,000 per month by referring small businesses seeking loans or cash advances. They paid from $299 to $499 for the opportunity.
According to the FTC, consumers were then told they needed business leads to succeed. The supposed high-quality or pre-approved leads often cost more than $10,000, but the agency alleged that they consisted of random names and email addresses, many with no apparent business connection. The complaint also alleged violations involving telemarketing calls and the Business Opportunity Rule.
In August 2013, the federal district court for the District of Arizona froze the defendants’ assets and appointed a receiver. Preliminary injunctions followed. Money Now Funding LLC was identified as also known as Money Now Funded, Cash4Businesses, and CashFourBusinesses.
Court orders announced in 2015 resolved the charges against the defendants and banned Money Now Funding and other named parties from selling business or work-at-home opportunities. The FTC release said the operation had taken more than $7 million from American and Canadian consumers. In February 2017, the FTC announced 2,031 refund checks totaling more than $436,000, with an average payment of $214.68.
Sources
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- Enforcement action September 26, 2013
- Enforcement action August 20, 2015
- Enforcement action February 17, 2017
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First recorded September 26, 2013 · Last updated February 17, 2017