FTC investigation shuts down business coaching company accused of swindling thousands of customers

The lawsuit said MOBE claimed it would help people get rich by teaching them how to run an online business.

WASHINGTON — A business coaching company has been permanently banned from offering any more coaching services after a Federal Trade Commission investigation found it swindled thousands of customers around the world out of more than $125 million.

The people who ran My Online Business Education (MOBE) agreed to pay more than $17 million in settlements with the FTC.

The lawsuit said MOBE claimed it would help people get rich by teaching them how to run an online business.

Content Continues Below

Instead, customers handed over thousands of dollars for worthless membership upgrades, according to court records.

"I spent $26,000,” Jennifer Crouch said in a video she posted to warn others about MOBE.

"They told me that I was perfect for the program and I would be making my money back in just a few short weeks,” Crouch said.

Crouch said she never made the money back and said it was a lesson to make sure she only deals with legitimate online business opportunities moving forward.

The FTC lawsuit is a civil suit.

No one has been criminally charged in connection with MOBE’s operations at this time.