FTC, Colo. sue over promissory notes infomercials

AP News
Posted: May 31, 2011 3:55 PM
FTC, Colo. sue over promissory notes infomercials

Colorado and federal officials are suing a company that runs infomercials offering to teach people how make money in the promissory notes business.

Colorado Attorney General John Suthers on Tuesday announced the lawsuit against Westminster-based Dalbey Education Institute, formerly known as America's Note Network. The company markets its products in infomercials that have featured actor Gary Collins.

Suthers and the Federal Trade Commission allege that the company and its principals engaged in deceptive trade practices. They say very few customers earn money from its products and that some testimonials don't disclose actual earnings after costs are deducted.

The company denies the allegations and says the case is flawed.

Its attorney, Andrew R. Shoemaker, says customers can and do make money based on what they learn from the company.