- The FTC secured a settlement with Growth Cave, LLC and related entities (“Growth Cave”), along with the company’s co-CEOs, to resolve allegations that Growth Cave violated the FTC Act, the Business Opportunity Rule, and the Credit Repair Organizations Act through a deceptive business opportunity and credit repair scheme.
- According to the complaint, Growth Cave allegedly lured consumers with false promises of significant income, misrepresented the assistance it would provide, used bogus testimonials, and imposed requirements that were previously undisclosed. The FTC also alleges Growth Cave misrepresented its ability to improve credit scores, charged advance fees for credit repair services, and failed to provide required disclosures under the Credit Repair Organizations Act.
- Under the proposed stipulated orders against Growth Cave and its co-CEOs, Lucas Lee Tyson and Osmany Batte, the defendants must pay $48.6 million, partially suspended based on inability to pay, and liquidate certain assets, with proceeds used for consumer redress.