The majority of people buying into the expensive program are unable to recoup their initial investment. Additionally, many consumers experience devastating losses and mounting debts. In several instances, the FTC notes that consumers lose more than $20,000.
The scheme deepens as the defendants offer money-back guarantees to further lure people into their allegedly risk-free program. However, when consumers request a refund, the fraudsters refuse to provide refunds. In limited instances, though, the fraud perpetrators provide refunds when angry consumers make persistent demands or threaten to file complaints with law enforcement agencies.
The defendants are an international group, hailing from Australia to Malaysia. The ringleader is Matthew Lloyd McPhee also known as Matt Lloyd. The co-defendants are Russell W. Whitney, Jr. and Susan Zanghi. The primary corporate entity for the fraud scheme is MOBE Ltd., along with a myriad of DBA (“doing business as”) entities, including: MOBE, My Online Business Education, and My Own Business Empire; MOBEProcessing.com Inc.; Transaction Management USA Inc.; MOBETraining.com Inc.; and Matt Lloyd Publishing.com Pty Ltd., also d/b/a Matt Lloyd Publishing and Home Business Builders.
