Settlement Reached in FTC Fraud Case

Share this content:
Gary Walton, doing business as Pinnacle Financial Services, has agreed to settle federal charges that he allegedly assisted Canadian telemarketers in their fraudulent advance fee loan scheme directed at US citizens.


In addition, the Federal Trade Commission (FTC) alleged that Walton also advertised that he could obtain loans for consumers regardless of their past credit histories for an up-front fee.


The proposed settlement of these charges would require Walton to post a $75,000 performance bond for the protection of future consumers before he markets any credit-related goods or services, and would prohibit him from making false representations regarding such goods or services in the future.


The charges were filed in January as part of Project Loan Shark II -- a joint crackdown by the FTC, several state officials, and Canadian law enforcement authorities on 37 telemarketing firms and individuals allegedly engaged in advance fee loan scams.


An FTC brochure for consumers titled "Advance-Fee Loan Scams" states that legitimate lenders never "guarantee" that consumers will qualify for a loan or credit card before they even apply, especially if they have bad credit, no credit, or have filed for bankruptcy in recent years.

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above