Online Education Academy is shutting down after getting caught peddling fake money-making schemes to desperate consumers.

The company, run by Mark Schwartz, filed court documents on September 16th announcing it would suspend operations and dissolve. The move came as OEA faced a federal fraud lawsuit from the FTC over its role in the "8 Figure Dream Lifestyle" scheme.

The FTC's allegations paint a picture of systematic deception. OEA used robocalls, live calls, text messages, internet ads, emails, social media, and in-person events to push fraudulent money-making programs. The core promise was simple: you could earn substantial money. It was also completely false.

During depositions, OEA admitted it had illegally pitched its products using false and unsubstantiated earnings claims. The company generated roughly $600,000 since launching in late 2018, but $100,000 to $110,000 of those funds got frozen by the court.

OEA initially tried to get some of that frozen money released, filing a motion in August requesting what's called an asset-freeze carveout. Both the court-appointed monitor overseeing the case and the FTC opposed the request. The FTC was blunt in its opposition: OEA made material misrepresentations about earnings potential and those consumer dollars needed to stay protected.

Rather than fight back against the objections, OEA threw in the towel. The company's September filing told the court it would wind down and said it intended to cooperate with the FTC to resolve the matter.

The collapse of OEA appears almost inevitable. Other defendants in the same lawsuit had already struck out trying similar carveout requests. Schwartz and his company had no realistic path forward.

The FTC's case against the broader 8 Figure Dream Lifestyle scheme targeted a network of operators who preyed on people looking for financial independence. The scheme's success relied on volume—hitting thousands of people with marketing messages across multiple channels, knowing some would bite. Those who did bought courses and programs that delivered nothing but disappointment and empty pockets.

OEA's decision to dissolve marks the first major casualty of the FTC's enforcement action. It's a reminder that even companies generating hundreds of thousands of dollars can crumble quickly once fraud gets exposed in court.

In March 2020, OEA settled the FTC's allegations for $600,000—the total amount it had generated since its launch. The company paid back what it had taken.

🤖 Quick Answer

What led to Online Education Academy's shutdown?
Online Education Academy ceased operations following a federal fraud lawsuit filed by the FTC regarding the "8 Figure Dream Lifestyle" scheme. The company, operated by Mark Schwartz, faced allegations of systematically deceiving consumers through false earnings claims via multiple communication channels including robocalls, emails, and social media advertisements.

How did OEA promote its fraudulent programs?
The company utilized diverse marketing channels including robocalls, live telephone calls, text messages, internet advertisements, emails, social media platforms, and in-person events to distribute its money-making programs. During legal proceedings, OEA acknowledged using illegally unsubstantiated and false earnings claims in product promotion.

What were the main allegations against OEA?
The FTC accused Online Education Academy of systematic deception, promising substantial earnings through its programs while lacking legitimate basis for such claims. Depositions revealed

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