- Florida AG Ashley Moody and the Federal Trade Commission (“FTC”) sued credit card “advisor” companies GDP Network LLC, G & G Success LLC, and G & N Squared LLC, and related individuals (collectively “GDP Network”) for allegedly offering consumers a sham credit card interest rate reduction program in violation of the FTC Act, the Telemarketing Sales Rule, and the Florida Deceptive and Unfair Trade Practices Act.
- According to the complaint, among other things, GDP Network targeted consumers with telemarketing cold calls that made it seem like it was affiliated with the consumer’s credit card company and falsely promised to permanently and substantially reduce the consumer’s credit card interest rates in exchange for thousands of dollars in upfront fees.
- The complaint seeks permanent injunctive relief, reformation of contracts, rescission, restitution, refunds, disgorgement, civil penalties and costs. The U.S. District Court for the District of Middle District of Florida issued a temporary restraining order halting GDP Network’s operations, freezing its accounts, and appointing a temporary receiver.