A marketer who allegedly deceived consumers in Web advertisements for investment training courses has a consent decree settling Federal Trade Commission charges.
Ken Roberts and his three companies–Ted Warren Corp., the Ken Roberts Institute Inc. and Ken Roberts Co.–agreed to disclose the risks associated with investing in volatile markets. In addition, the defendants are prohibited from falsely claiming that consumers who practice “paper trading” are likely to make major profits when they enter the real market.
According to the FTC complaint, Roberts and his Oregon-based firms marketed courses on how to invest in stock, commodities and real estate. However, they implied in their online ads that purchasers who made profitable “paper trade” were likely to do well when they invested real money, the complaint continues.
The defendants also failed to warn potential investors that they could lose their money, and that past results are not indicative of future results.
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