In addition, the defendants would be prohibited from violating the Franchise Rule and from making false and misleading representations in connection with the sale of business opportunities. As part of the settlement announced today, individual defendant Larry Lind would be required to post a $250,000 performance bond before engaging in the selling of any franchise or other business venture. The Commission alleged that the defendants violated provisions of the FTC's Franchise Rule, a pre-purchase disclosure rule intended to give potential buyers key information about a business opportunity, including the legal and financial history of the seller and its principal officers.
According to the FTC, Hi Tech Mint Systems, Inc., and its principals, Larry Lind and Ron DePung, made numerous false claims in their ads, sales pitches and promotional materials to induce consumers to invest between $3,000 and $14,999 for their candy vending machine business opportunities. About the FTC Show/hide About the FTC menu itemsĪ New York City company that sold peppermint patty vending machines nationwide has settled Federal Trade Commission charges that it deceived consumers by telling them they could expect a 750 percent yearly return on their initial investment.News and Events Show/hide News and Events menu items.Advice and Guidance Show/hide Advice and Guidance menu items.Competition and Consumer Protection Guidance Documents.
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