Willms takes on the FTC
As if Willims’s previous shady dealings weren’t enough, the US Federal Trade Commission (FTC) found reason to examine another business he founded utilizing potentially questionable business practices.
In 2012, Willms settled with the FTC for $359 million. Why such a large settlement? It’s because Willms was alleged to have duped consumers with “free”, “trial”, and “bonus” product offerings, and then subsequently charged those consumers for unwanted products and services at a later time. All told, the FTC claims Willms defrauded investors to the tune of $467 million. This type of misdirection and sleight of hand is something the FTC takes very seriously, which is why he was prosecuted.
As a result, the two parties would eventually settle in a permanent injunction and monetary relief paid by Willms. It should be noted, however, that as part of the settlement Willms maintains his innocence and claims to never have broken the law in any way.
Recent hack unveils new business
This year, hackers found a way to infiltrate a business owned by Willms. While this is bad news in and of itself for the entrepreneur, what it uncovered makes this story even worse.
