Word: ftc
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Dates: during 1980-1989
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Fast-rising prices in the art market have inspired a hot new trade in phony prints. Hundreds of people have paid as much as $4,000, sight unseen, for "limited-edition" originals. The FTC has sued Federal Sterling Galleries, a telemarketer in Scottsdale, Ariz., for allegedly peddling photographs of artworks as authentic prints by Salvador Dali...
...Brokers in their garage, mailing flyers to consumers around the country that promised Hawaiian vacations for just $29. Gullible customers who called in their orders received a voucher entitling them to book a trip through the agency, but at a cost of several hundred dollars more. By the time FTC investigators took the company to court, the outfit had taken in more than $6 million...
...laws stand in the way of these scams, partly because they have taken forms that were not anticipated when current statutes were written. In addition, laws covering such crimes as interstate wire fraud are difficult to use against the relatively small swindles usually worked on consumers. The FTC has now joined forces with consumer groups, telephone businesses, securities regulators and banking officials in an organization called Alliance Against Fraud in Telemarketing, which is pressing for legislation to curb telescams. A House bill under consideration would toughen FTC rules on telemarketing and allow state law-enforcement officials, as well as companies...
Anyone who is tired of hearing about Real Estate Mogul Donald Trump's latest megadeal or his timely escape, unscathed, from the stock-market crash may have felt a certain satisfaction last week. According to FTC: Watch, a biweekly newsletter that reports on the Federal Trade Commission, the agency has asked the Justice Department to prosecute the New York developer for illegal use of a "parking agreement." Under such an arrangement, a corporate raider employs one or more third parties, like an investment bank, to help him secretly amass shares in a takeover target in violation of federal law. Trump...
...FTC said the study showed that smokers who quit had lower rates of heart disease than unrepentant smokers, and averred that the Reynolds ad misrepresented the study results. Reynolds officials insisted that their p.r. effort was simply an editorial position and was thus protected by the First Amendment. The FTC's complaint, said a company spokesman, is "a misuse of its investigative powers." Reynolds has retained well-known First Amendment Lawyer Floyd Abrams as an adviser before a hearing next month by an FTC administrative-law judge on the charges...