Online Education Academy just got hit with a $600,000 settlement over its role in peddling the 8 Figure Dream Lifestyle fraud scheme.

The Federal Trade Commission reached the deal with OEA, the company behind one of the scheme's core operations. To pay up, OEA will drain three of its bank accounts, including one holding $10,000. The rest of the $600,000 judgment gets suspended.

But the money is just the beginning. The FTC's injunction locks OEA out of the business coaching game entirely. The company can't touch investment opportunities. It can't make claims it can't back up. And it's forbidden from using any customer data it collected from the 8 Figure Dream Lifestyle operation.

Mark Schwartz ran OEA, which served as a key player in the larger fraud scheme. Now the company faces two decades of FTC supervision. Every twenty years, Schwartz's operation has to hand over current business information to the agency. No hiding, no excuses.

The company saw the writing on the wall fast. Shortly after the FTC filed its complaint, OEA told the court it was shutting down and planned to dissolve. That move likely helped expedite the settlement.

The battle over 8 Figure Dream Lifestyle isn't finished. Multiple defendants remain, and a trial is scheduled for July 2020 while those cases work through the system.

🤖 Quick Answer

What settlement did the FTC reach with Online Education Academy?
The Federal Trade Commission settled with OEA for $600,000 over its involvement in the 8 Figure Dream Lifestyle fraud scheme. OEA must liquidate three bank accounts to pay the judgment, with the remainder suspended.

What restrictions did the FTC impose on OEA?
The FTC's injunction prohibits OEA from operating in business coaching, making unsubstantiated investment claims, and using customer data collected from the fraudulent operation. The company faces comprehensive operational constraints.

Who led Online Education Academy during the fraud?
Mark Schwartz served as the operator of OEA, which functioned as a central component within the larger 8 Figure Dream Lifestyle fraud scheme. The company played a significant role in the fraudulent activities.

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