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

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

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