A company that has run infomercials for nine years offering to teach people how make money in the promissory notes business is being sued by state and federal officials.
Colorado Attorney General John Suthers announced the lawsuit Tuesday against Westminster-based Dalbey Education Institute. The company formerly known as American's Note Network markets its products in infomercials titled ``Winning in the Cash Flow Business.” In a lawsuit filed in U.S. District Court in Denver, Suthers and the federal trade commission allege that the company and its principals engaged in deceptive trade practices.
“Our goal is twofold – to seek restitution for consumers and to stop the deceptive trade practice, which in this case would be the infomercial,” says attorney general Spokesman Mike Saccone.
The infomercials claim consumers could start their own business using a kit which cost anywhere from $39.00 to $159.00; they also pitched additional services and packages to consumers that they had to pay additional money for.
The lawsuit alleges that very few customers actually earn any money from the company's products. In addition, testimonials from some who have earned money don't disclose actual earnings after costs are deducted. The company denies the allegations.