Matt Lloyd cops $318 mill MOBE fraud FTC judgment order

A federal judge has slapped Matthew Lloyd McPhee with a $318 million judgment for his role in orchestrating a massive consumer fraud scheme through MOBE, a business coaching operation that bilked victims out of over $125 million.

The order, handed down March 5th, closes out the Federal Trade Commission's case against Lloyd. It builds on a settlement Lloyd reached with the court-appointed receiver in January. The judge accepted all allegations from the FTC's original 2018 complaint as fact.

Lloyd won't be paying anywhere close to the full amount. Instead, he's forfeiting virtually everything he owns.

Three properties are being liquidated by the receiver: real estate holdings in Costa Rica, Fiji, and Kuala Lumpur. Beyond that, the judgment seizes bank accounts across the globe. The list reads like a world tour of financial institutions. There's $839,421 in a Bank of America account, $237,763 at United Overseas Bank, $1.17 million sitting in a Vanguard Investments account. Wells Fargo, Regions Bank, and a dozen other institutions are also being drained.

Payment processors and digital money platforms are getting hit too. PayPal, Square, Stripe, and various merchant services accounts holding MOBE proceeds are being emptied. One processor, QualPay Inc., is forfeiting $6.3 million from a Synovus Bank account. Allied Wallet is surrendering $2.1 million. Electronic Merchant Services has $3 million tied up.

The itemized accounts total roughly $15.9 million. Once the property sales close and interest accrues, Lloyd will have handed over virtually every asset connected to MOBE. The remaining balance of the judgment is suspended, effectively written off based on Lloyd's financial statements submitted to the FTC.

The judge has also barred Lloyd from the business coaching industry permanently. He cannot operate, promote, or participate in any business coaching programs or investment opportunities going forward.

For the next two decades, Lloyd must keep the FTC updated on any changes to his personal finances, business activities, or contact information. He's required to maintain accounting records for five years and immediately report any consumer complaints. Every advertisement he creates must be disclosed to regulators.

The judgment represents one of the largest recoveries the FTC has secured in recent years. While Lloyd won't pay the full $318 million—a reflection of his actual financial capacity—federal authorities have methodically dismantled his operation and stripped him of the proceeds.

🤖 Quick Answer

What was the amount of the FTC judgment against Matt Lloyd?

How will Matt Lloyd pay the judgment?
Lloyd will not pay the full amount in cash. Instead, he is forfeiting virtually all his assets, including three properties in Costa Rica, Fiji, and Kuala Lumpur, along with bank accounts globally, which will be liquidated by a court-appointed receiver.

What was MOBE's role in the fraud scheme?
MOBE was a business coaching operation used as the vehicle through which Matthew Lloyd orchestrated a massive consumer fraud scheme that bilked victims of over $125 million before the FTC took legal action.

**When was the judgment order finalized?

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