The Federal Trade Commission (FTC) announced it will distribute over $12 million in refunds to more than 25,000 consumers who paid Zurixx LLC for a dubious house flipping investment training program.
The FTC and the Utah Department of Commerce Division of Consumer Protection (UDCP) sued Zurixx and its owners – Cristopher Cannon, James Carlson, and Jeffrey Spangler – in September 2019, alleging they ran a real estate investment coaching scheme that made false earning claims on what consumers could earn in house flipping. To build its credibility, the company partnered with television personalities who gained fame on home improvement and flipping programs. Consumers paid thousands of dollars for the webinars and telephone coaching offered by Zurixx, but consumers discovered the results of these lessons fell far short of what was promised.
In February 2022, the company and its owners agreed to a settlement that included a monetary judgment and a permanent banned from marketing or selling any real estate or business coaching programs. The company and its owners are also prohibited from making misleading earnings claims and from using contract terms to restrict consumers’ ability to review their products or speak to law enforcement agencies.
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