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Who can guarantee a specific return on an investment? A scammer.

 

Search online for “trading” or “investments” and you’ll be bombarded with offers, often from self-proclaimed experts, guaranteeing you’ll make big money fast. But no one can truthfully make those kinds of guarantees. That includes WealthPress, a company the FTC says violated the law by making false earnings claims to convince people to buy its financial trading services.

When somebody claims their service will “make you very wealthy very quickly” and “put you on the path to millionaire status, no matter your starting point today,” they’d better have proof. According to the FTC’s lawsuit, WealthPress told people they were likely to make substantial profits with its trading services, but couldn’t support that claim. Instead of making big money, the FTC says many WealthPress clients lost money trading, on top of the hundreds or thousands of dollars they paid for the so-called service and the recurring charges that followed.

To settle the FTC’s allegations, WealthPress has agreed to stop making deceptive or misleading claims about earnings. WealthPress will also pay more than $1.7 million to settle the case, with $1.2 million going back to the people affected. Stay tuned for more information on refunds.

Before you pay for any investment-related service, or ANY offer that includes claims about how much you’ll make, how fast:

  • Know that no one can guarantee any return on investment in stocks, commodities, cryptocurrency, real estate or the foreign exchange market. Only scammers do that. So anyone who promotes riches and doesn’t mention the risks involved is a scammer.
  • Research the offer. Search online for the name of the company and words like “review,” “scam,” or “complaint.” Other people’s experience with the company can tip you off to possible problems.
  • Question the statistics and testimonials…which can be faked. A company might show reviews from people who’ve used their program and “made lots of money.” But those could be paid actors or made-up reviews. Read more about How To Evaluate Online Reviews.

For more, read Real Estate and Investment Scams.

Search Terms
invest
Topics
Money-Making Opportunities and Investments
Scams
All Scams
Money-Making Opportunity Scams
Larry Rubin
January 17, 2023

Often when you click to "unsubscribe" they simply come back again with a new name.
Other times your email comes back undeliverable.

Edwin Wildner
January 17, 2023

No, I did not pay Wealthpress. Thanks for the warnings.

Munna Ahmed
January 20, 2023

Nice

Christopher Phi
April 05, 2023

No I did not

Andreea Dumitrascu
January 17, 2023

Hello, I invested in a cryptocurrency company but after the trading period I didn't get a single penny back, I'm still being asked to pay to be able to recover my investment, I ended up paying almost $10,000 and I still haven't I received nothing, in fact I am asked to continue paying in order to recover my money. what could I do in this situation?

FTC Staff
January 17, 2023

In reply to by Andreea Dumitrascu

If you suspect an investment scam, report it to the FTC at www.ReportFraud.ftc.gov.
For tips on investing wisely and avoiding fraud, visit the SEC’s website: www.Investor.gov.
If your personal information has been misused in an investment scam, go to www.IdentityTheft.gov for steps you can take to deal with problems caused by identity theft.

Richard W.
April 05, 2023

In reply to by FTC Staff

Where can I information on how to submit a claim for the WealthPress settlement? Thank you.

Richard W.
April 05, 2023

How do those affected by this get a refund from the settlement?

Richard W.
April 05, 2023

Where can I find information on consumer settlement for the WealthPress suit?

Jane M Schneider
April 05, 2023

How do you apply for restitution if you paid weathpress for a service?

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