The five settlements announced today, if approved by the court, end the litigation. The settlements include provisions that would allow the Commission to reopen the orders to recover money for victims should the defendants be found to have misrepresented their financial condition. Finally, the settlements contain various record keeping and reporting requirements to assist the FTC in monitoring the defendants' compliance. The Commission vote to file the five separate stipulated final judgment and orders was 5-0. These consent judgments are for settlement purposes only and do not constitute an admission by the defendants of a law violation.
Consent judgments have the force of law when signed by the judge.
Copies of the settlements in this case will be available shortly. FTC Matter No.