February 20, 2013 - Receiver's Update - Preliminary Injunction Entered
After a hearing on February 14, 2013, the Court has entered a Preliminary Injunction which extends the terms of the Temporary Restraining Order, including the asset freeze, and appoints the Temporary Receiver to be Permanent Receiver. To read the Preliminary Injunction, click here.
NOTICE OF RECEIVERSHIP – IDEAL FINANCIAL SOLUTIONS AND RELATED COMPANIES
On January 28, 2013, the Federal Trade Commission commenced suit against Ideal Financial Solutions and certain affiliated entities. The Complaint alleges that Defendants have engaged in unfair and deceptive practices in violation of the FTC Act, 15 U.S.C. Section 45(a) by: obtaining consumer credit card and bank account information and implementing charges against those accounts without the consumers’ express informed consent; falsely representing that consumers have authorized charges; and making deceptive statements to consumers regarding the availability of refunds. The case was filed in the U.S. District Court in Las Vegas. FTC v. Ideal Financial Solutions, Inc., et al., Case No. 2:13-cv-00143-MMD. To read a copy of the Complaint, click here.
On January 30, 2013, the Court entered a Temporary Restraining Order (“TRO”) which included an asset freeze and the appointment of a Temporary Receiver to take control of the company’s operations. To read a copy of the TRO, click here. On February 1, 2013, the Temporary Receiver took possession of the business operations based in St. George, Utah and immediately suspended all operations. He is now conducting a thorough review of the business.
The Court has set February 14, 2013 at 4:30 p.m. as the date and time for a hearing on whether a Preliminary Injunction should issue.
The asset freeze and the receivership apply to “Receivership Entities” which are defined in the TRO (Paragraph II, page 6) as the entities named as Corporate Defendants (Ideal Financial Solutions, Inc.; Ascot Crossing, LLC; Chandon Group, Inc.; Bracknell Shore, Ltd.; Fiscal Fitness, LLC; Avanix, LLC) and “entities that are part of Defendants’ common enterprise,” including, but not limited to, Debt Elimination Systems, LLC; US Debt Relief, LLC; Money Mastery, LLC; US Debt Assistance Corp.; IWB Services (St. Kitts); Financial Fitness, LLC; Debt to Wealth, LLC (St. Kitts); Debt to Wealth, LLC (Nevada); Ideal Goodness, LLC; Dollars West, LLC; Fluidity, LLC; Newport Sails, LLC; Shaw Shank, LLC; Bunker Hillside, LLC; Funding Guarantee, LLC; Newline Cash, LLC; Wealth Fitness, LLC; and Zeal Funding, LLC.
The Temporary Receiver has established this website as a vehicle to communicate with consumers who may have done business with Ideal and/or any of the receivership Entities as defined above. You may send specific questions to the receiver at firstname.lastname@example.org.