Nonprofit Involved in Cramming Scam will Turn Over Assets as Part of Settlement
Under the terms of a settlement with the Federal Trade Commission (FTC), Bibliologic will surrender nearly all of its assets for taking part in a massive cramming operation.
According to the FTC the supposed nonprofit benefitted from an operation in which American eVoice crammed more than $70 million in unwanted and unauthorized charges on consumers' landline telephone bills.
eVoice, subject of its own complaint, transferred to Bibliologic millions of dollars made from the scam.
Bibliologic will transfer several assets, including a large tract of land, the contents of multiple bank and investment accounts, gold and silver, and several vehicles. The company is allowed to keep $100,000 that must be used for charitable purposes. The $100,000 judgement will become due should any of the money retained by Bibliologic be used for the benefit of any defendant in this case.