Criminal charges have been filed against a telemarketing company in New York. According to the complaint, these telemarketers preyed on the elderly by promising them high returns for simply investing their money. Following their investment, these folks received dozens of telemarketing calls trying to get them to sign up for business and life coaching programs, lead lists, tax preparation services and other supposed income producing services and products.
In recent years the Federal Trade Commission (FTC) has brought civil actions under the Telemarketing and Consumer Fraud and Abuse Prevention Act, this is one of the first criminal actions brought. Violations of the wire fraud statutes carries a potential prison sentence up to 20 years.
The point is, once again, if it sounds to good to be true, it probably is. With tax season upon us, beware of telemarketers who offer “deals” on anything. Many of these are just trying to get your refund.