Texas Couple Ordered to Pay $10.76 Million for COVID-19 Pyramid Scheme
A Texas couple has been ordered by the Texas Attorney General’s Office (OAG) to pay a hefty sum of $10.76 million as a Final Judgment and Permanent Injunction for operating an illegal pyramid scheme during the COVID-19 pandemic. The OAG stated that Blessings in No Time (BINT Operations), along with its owners, LaShonda and Marlon Moore of Frisco, scammed numerous consumers out of tens of millions of dollars by deceptively presenting themselves as a faith-based wealth building organization.
According to the OAG, the Moores made promises to bless participants with large amounts of money during the pandemic, but only if they made upfront monetary contributions. The scheme falsely guaranteed investment returns as high as 800 percent. In an effort to enhance their credibility, the couple, who had previously appeared on a reality show on the Oprah Winfrey Network, invoked the association. As a result, nearly 8,000 consumers in Texas and across the country fell victim to their scam.
The OAG took legal action against BINT Operations and the Moores in June of this year, filing a lawsuit to address the fraudulent activities. The recent judgment includes enforcement actions taken by the Federal Trade Commission and the State of Arkansas, requiring the defendants to contribute between $500,000 and $2.5 million to a Texas-administered fund that will provide assistance to victims who suffered losses due to the Moores’ Blessings in No Time pyramid scheme.
This case highlights the grave consequences individuals face when engaging in fraudulent practices and taking advantage of vulnerable individuals during challenging times like the COVID-19 pandemic. Pyramid schemes are illegal and can cause significant financial harm to unsuspecting victims.
The OAG’s successful legal action against BINT Operations and the Moores sends a clear message that such deceptive practices will not be tolerated in Texas. This landmark judgment aims to not only provide monetary compensation to the victims but also serve as a deterrent to others considering similar schemes.
As always, it is crucial for consumers to exercise caution and thoroughly research any investment opportunities or financial ventures before committing their hard-earned money. By remaining vigilant and informed, individuals can protect themselves from falling prey to fraudulent schemes.
The OAG’s victory in securing this substantial judgment against the Texas couple and their illegal pyramid scheme serves as a significant step towards ensuring justice for the victims and deterring similar unscrupulous activities in the future.
