AI scammers on Amazon duped investors out of millions with 'passive income' scheme, FTC alleges

Packages ride on a conveyor belt during Cyber Monday, one of the company's busiest days at an Amazon fulfillment center on December 2, 2024 in Orlando, Florida. The Federal Trade Commission is going after an e-commerce company that allegedly took millions of dollars from consumers as part of a "passive income" scheme, which spun up Amazon storefronts on their behalf and promised "insane returns" that were higher than the stock market. The FTC said Tuesday it filed a lawsuit against the company, called Click Profit; its co-founders Craig Emslie and Patrick McGeoghean; and two other business associates. It also asked a judge to bar the parties from doing business temporarily. The case is the latest example of the FTC cracking down on e-commerce "automation" services. These companies launch and manage online storefronts on behalf of clients, who pay money for the services and the promise of earning tens of thousands of dollars in "passive income." The companies often make extravagant c ... Read full article.