“Medical attention does not come from a Cheerios box,” Steven Nissen, head of cardiology at the Cleveland Clinic, told Forbes. See, one of the biggest trends in the food industry are these so-called “functional foods,” water that helps you sleep, yogurt that regulates your digestion, pomegranate juice that cures cancer, etc. But most of the claims are bogus, or at best, misleading, and the FDA is cracking down. [More]
Is ripping off Best Buy destined to be this summer’s hot new felony? Just last week, an Illinois couple was convicted of bilking the retail giant of $41 million over a four-year period. Now, a Pennsylvania man has pleaded guilty to scamming Best Buy for a more modest $900,000, by submitting false invoices for electronics equipment. [More]
Three companies that made claims that they could help consumers reduce their credit card interest rates — and then charged fees of up to $1,590 — have been shut down by the Federal Trade Commission. “The last thing debt-ridden consumers need is to be deluged by illegal robocalls – especially when all the calls are offering is a scam,” said FTC Chairman Jon Leibowitz. [More]
The are plenty of scams promoted in the backwaters of local radio and late-night TV ads. Most tend to focus on one ripoff at a time; after all, why complicate the message by asking listeners to choose how they want to get fleeced. But a tip from a viewer alerted TV reporter John Matarese to what may be a new trend: Bundling three worthless offers to create one colossally bad deal.
Brian writes us, enraged at Popular Science for sending him to a debt collector in an attempt to get him to renew his subscription. We were unsurprised to learn that Brian had received a notice from the “National Credit Audit Corporation” of lovely Peoria, IL.