In May 2022, the Federal Trade Commission (FTC) filed a complaint against Financial Education Services Inc. (FES), alleging that the direct selling company operated an unlawful credit repair scam that deceived consumers across the country and encouraged many to join an illegal pyramid scheme. In June, after a federal court temporarily shut down FES, the order was reversed, allowing FES to continue operating under the observation of a monitor.
A recent Social Selling News (SSN) article summarizes the case and findings from Principal Dr. Branko Jovanovic. Dr. Jovanovic authored a declaration on behalf of FES opining on the allegations regarding FES’s product offerings and the FTC’s charge that FES was operating as an illegal pyramid scheme.
The full article can be found below.