U.S., Canadian Authorities Freeze Assets of Telemarketing FirmThe U.S. District Court in Seattle this week froze the assets and halted the activities of a Vancouver, British Columbia, Canada, telemarketing firm that the Federal Trade Commission has charged with targeting U.S. seniors in a fraudulent investment scheme.
In addition, the attorney general of British Columbia froze the Canadian assets of the company, which operated under the names Overseas Registry Services, Guaranteed Capital Holdings, International Bond Headquarters and NAGG Holdings Inc.
The company is charged with guaranteeing consumers monthly earnings of between $5,000 and $12,000 if they made a one-time payment of up to $5,000, according to the FTC. The firm also claimed to be selling British Premium Savings Bonds, and offered to qualify consumers for monthly drawings to win cash prizes if they bought the bonds, the FTC said. Consumers who made purchases received false documents purporting to be bond certificates, the FTC said.
The FTC's complaint alleges that fraudulent claims were made, and in some cases, charges on consumers' credit cards were processed without authorization from the cardholders. The FTC has charged the company with violations of the FTC Act and the Telemarketing Sales Rule.
A search of telephone information records in the Vancouver area revealed no listings for Overseas Registry Services, Guaranteed Capital Holdings, International Bond Headquarters and NAGG Holdings Inc.