TheFederal Trade Commission (FTC) has mailed 70,511 refund checks to consumers who lost money to a scheme that allegedly sold bogus 'platinum' credit cards and illegally debited consumers' bank accounts.
Under a settlement entered by the court in September 2012 as part of the FTC's ongoing efforts to protect consumers in financial distress, Blake Rubin, Chase Rubin, and Justin Diaczuk, who ran the Platinum Trust Card and Express Platinum Card scam, were permanently banned from telemarketing and from selling any type of credit card product or service.
More than $7.4 million is being returned to consumers; payments will be 97 percent of their loss. Consumers who receive the checks from the FTC's refund administrator should cash them on or before March 16, 2013. The FTC never requires consumers to pay money or provide information before redress checks can be cashed.
Those with questions should call the FTC's refund administrator, Gilardi & Co., LLC, at 877-282-8781.