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Update for Amazing Wealth System

The FTC recently sued the companies and individuals responsible for the Amazing Wealth System — also known as Amazon Wealth Systems, FBA Stores, AWS, Insider Online Secrets, Online Auction Learning Center, and Online Seller — which ran ads and held live workshops promoting a business opportunity scheme. The company claimed people could use its system and “Get started on Amazon and Make $5,000-$10,000 in the next 30 days. . . even if you have never sold anything online before.” The FTC said those earnings claims are false and that the defendants had no basis for making those claims. At the FTC’s request, a court froze the defendants’ assets and appointed a temporary receiver.

Since the FTC filed the case, many people who paid Amazing Wealth System and the related companies have asked how to get involved in the case, what to do with their paperwork, and if they will get a refund. Here are answers to those questions and a few more:

I paid for Amazing Wealth System workshop. How do I add my name to the FTC case?

Report your experience to FTC.gov/complaint. Include as much personal information as you choose. The information you give will go into a secure database that the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on:

  • Education, Jobs, and Making Money, then
  • Business Opportunities, Work-at-Home-Plans, Franchise or Distributorships, then
  • Business Opportunity or Work-at-Home Plan.

I saved my receipts and other paperwork. What should I do with them?

Keep the originals and copies of:

  • payment records, including invoices, bank statements, credit card statements and cancelled checks;
  • postal mail, email and material that you received from the defendants, including messages about your account, marketing material and handouts you received at workshops; and
  • other documents, postal mail or email that refers to your Amazon account or business with Amazing Wealth System or the related companies.

Will I get my money back?

The FTC works to return as much money as possible to each affected person. The amount the FTC returns depends on how much the defendants are able to pay, how much the court orders for refunds, how many people were affected and other facts. Sometimes the FTC can’t return any money.

How long will it take to get my money back?

The FTC must complete the legal action before it can determine whether it will be able to give refunds. The case against the defendants was filed in March 2018, and could take several months to resolve.

I paid for services and products offered by one of the companies the FTC sued. Can I get those services and products now?

According to Robb Evans & Associates LLC, the court-appointed temporary receiver, the defendants’ business operations will not be re-started. If you think you have products stored at the defendants’ premises, please send an email to the temporary receiver at [email protected]. Include a detailed list of your inventory. The temporary receiver will take steps to return inventory to people in the near future.

I saw another business that looked like Amazing Wealth System.

Please report what you saw to the FTC at FTC.gov/complaint.

Where can I get more information about the case?

You can read our blog from March 23, 2018, the press release announcing the case, or the legal documents. The temporary receiver also has information on this Case Page.

This article by the FTC was distributed by the Personal Finance Syndication Network.

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The post Update for Amazing Wealth System appeared first on Personal Finance Syndication Network.




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