Business opportunities and trainings that claim you’ll make big money are often scams

This article is from the Federal Trade Commission

Dreaming about making extra cash with an online business or trading cryptocurrency? Are you ready to ditch the 9 to 5 life to be your own boss? You might see business opportunities and training programs marketed to (supposedly) help make that happen. But big promises of big money are one sign that you’ve run into a scam.

Take DK Automation, LLC., for example. According to a complaint by the FTC, the company and its creators, Kevin David Hulse and David Arnett promised huge returns to trick people into buying business opportunities and training programs. The claim? They could teach you how to build, open, and run massively profitable stores on Amazon. But, says the FTC, those claims were deceptive or flat-out false. Most people who bought DK Automation’s programs never earned or even lost money.

DK Automation also offered investment “training” that promised to show people how to secure cryptocurrency riches. For fees of $20,000-$85,000, the company offered a trading bot to invest in crypto and (supposedly) make lots of money. But the FTC says this claim also turned out to be a bust.

If you’re looking for a business opportunity or training in investments or business development: 

• Do your research. Search online for information about the company with words like “scam” and “complaint.”
• Steer clear of companies that use high-pressure sales tactics. It’s a red flag if someone says you must act immediately or discourages you from taking time to do some research.
• Question claims about future riches. Promises that you’ll beat the stock market, make over-the-top profits, be able to quit your job, and live a life of luxury are strong indications of a scam.
• Don’t trust anyone who says you can quickly and easily make money in the cryptocurrency markets. Only scammers will guarantee profits or big returns. And all investments come with risks.

Spot a business opportunity, training, or investment scam? Tell the FTC at ReportFraud.ftc.gov.

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