$31.9 million 8 Figure Dream Lifestyle settlement reached
Rather than clear their names at trial, the 8 Figure Dream Lifestyle defendants have settled with the FTC.
As per the proposed settlement, John A. Bain, Alex Dee (aka Alex S. Dowlatshahi), Brian M. Kaplan and Jerrold S. Maurer will cop a $31.9 million judgment.
The proposed settlement also applies to corporate defendants 8 Figure Dream Lifestyle LLC, JL Net Bargains Inc., Kappy Enterprises LLC, Millionaire Mind Enterprises LLC and Spirit Consulting Group.
The proposed settlement judgment amount will be satisfied by
- liquidation of of Bain’s, Dee’s, Kaplan’s and Maurer’s cryptocurrency holdings (as previously ordered);
- $418,708 held in escrow by the defendant’s attorney;
- funds held in U.S. Bank N.A., Wells Fargo, TD Bank, JP Morgan Chase bank accounts;
- funds held in PayPal accounts belong to JL Net Bargains and Jerry Maurer; and
- liquidated securities held in the name of Brian and Andrea Kaplan;
Upon the above being turned over to the FTC, the remaining judgment balance will be suspended.
Unfortunately the amount paid against the $31.9 million judgment is not disclosed.
In addition to the monetary component of the settlement, the individual defendants will also be banned from having anything to do with “money-making methods”, investment opportunities, robocalls and telemarketing.
The defendants are also prohibited from using customer data acquired through 8 Figure Dream Lifestyle, 8FDL, TiDom, Online Entrepreneur Academy and 14 Day Champion Challenge.
Finally, the defendants are required to
- provide notification of the settlement to anyone they get into business with;
- submit compliance and change of details reports with the FTC; and
- keep records of their business activities (including accounting and consumer complaints) over a rolling five-year period.
Both of the above conditions must be adhered to for the next fifteen years.
If approved, the settlement will bring to a close the FTC’s 8 Figure Dream Lifestyle fraud case.
As alleged by the FTC, through 8 Figure Dream Lifestyle, defendants Bain, Dee, Kaplan and Maurer scammed consumers out of tens of millions of dollars.
Pending approval of the FTC’s proposed settlement, stay tuned…
Update 22nd September 2020 – On September 9th the court approved the proposed settlement.
This brings our coverage of the 8 Figure Dream Lifestyle fraud case to an end.
John A. Bain? Is that the same John Bain who was running The People’s Program?
$31.9 million judgment against you, that is indeed an 8 Figure Dream Lifestyle.
*golf clap* Lulz, well done sir!
Wait – Aren’t these jizz buckets going to spend time in the slammer? If not, I’ll be sorely disappointed…
The FTC can only file civil cases, no prison time.
Article updated with news of settlement approval.
Does anyone know if relief / refund has been released?
I got scammed from this back in 2017 and I’m drowning in CC payments, wondering if I can actually claim a refund now.
Never thought I’d see the day the case would be closed
Haven’t seen any recovery details.
Mukomi
I was scammed as well in 2017 for 22000 still trying to pay that bill off.
Wow…. this is something else!
Because the interest was so high on the loan I took out through their preferred loan company, we ended up putting $22,000 on a refinance on our house.
Never made a penny with this scheme even tho I hired someone to help. Their fault for being so believable, or my fault for believing them?
I just wanted to make enough money to pay off our mortgage so we could retire.
Are the victims getting restitution from the settlement?
I joined back in Feb 2018. Alex was my sponsor. Straight from the get go. I was charged an Administration fee, a fee for “onboarding” and a monthly fee for the “backoffice”.
What Alex failed to mention is that I would have to pay for leads for prospects. I shelled out over $6000 and didn’t see one penny in return.
It’s a shame that so many people were taken advantage of with false promises and riches.
See #8.
I entered this business with Brian Kaplan on 11-7-2017. I borrowed $15,000 through The Lending Club at Brian’s request.
I sent him a check for $11,250, $750 for a fee to the lender, and the other $3,000 for leads purchased through 8fdl’s lead generation service and other office supplies and needs.
I got no place from the time I was trained until April 8,2018 when I fell and broke my back shattering my spinal cord and leaving me with the loss of the use of my legs.
I called Brian for help, and he said that he would help by signing someone up under my name.
It never happened, so I wrote it off, until now. Hope I can see something out of this judgment.
Who are the defendants and where is the $ going?
How can we look into reparations if we were defrauded?
No change from #8.