Federal Trade Commission Goes After Real Estate Gurus

The Federal Trade Commission & the Colorado Attorney General went after the late-night guru Russ Dalbey AND one of his testimonials.  Yea!!!  And Armando Montelongo is under investigation too.  "His infomercial boasts that he is "America's No. 1 and top real estate investing expert."  Yeah, right...

... The Federal Trade Commission went after one prominent infomercial king and joined forces with Colorado Attorney General John Suthers to take the uncommon step of going after a woman who offered a testimonial.

Russell Dalbey, CEO and founder of the company behind the "wealth-building" program "Winning in the Cash Flow Business" is charged by the FTC with defrauding consumers with what were described as "phony claims that they could make large amounts of money quickly."...

Armando Montelongo parlayed exposure as former host of the A&E network's "Flip This House" into a national slate of free seminars promoting the tactics needed to buy and fix up run-down property for profit. His infomercial boasts that he is "America's No. 1 and top real estate investing expert."

The news team also uncovered that one of the star pupils in the infomercial faced eviction and multiple foreclosures in Nevada. Another claimed to have made $110,000 in eight months, despite the reality of having declared bankruptcy and not having earned more than $17,000 a year.

Read the whole article:

The Tricks Behind Infomercial Get-Rich Pitches

As I say, "Hold onto your wallet & credit cards!"