FTC investigation shuts down business coaching company accused of swindling thousands of customers

A business coaching company has been permanently banned from offering any more coaching services after a Federal Trade Commission investigation found it swindled thousands of customers around the world out of more than $125 million.

The people who ran My Online Business Education (MOBE) agreed to pay more than $17 million in settlements with the FTC.

The lawsuit said MOBE claimed it would help people get rich by teaching them how to run an online business.

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Instead, customers handed over thousands of dollars for worthless membership upgrades, according to court records.

"I spent $26,000,” Jennifer Crouch said in a video she posted to warn others about MOBE.

"They told me that I was perfect for the program and I would be making my money back in just a few short weeks,” Crouch said.

Crouch said she never made the money back and said it was a lesson to make sure she only deals with legitimate online business opportunities moving forward.

The FTC lawsuit is a civil suit.

No one has been criminally charged in connection with MOBE’s operations at this time.

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