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Marketers of Weight-Loss Patch to Pay More Than $110,000 for Violating Previous FTC Settlements

Marketers of a weight-loss patch have agreed to pay $110,539 to settle Federal Trade Commission charges that they violated two 2004 consent orders by continuing to make false claims that their product causes substantial weight loss and weight loss in all users. After agreeing to the 2004 consent orders, the marketers continued making the same bogus claims they had made previously, but this time they targeted consumers abroad. They made these claims in brochures accompanying shipments of the patches that were intended for sale to overseas consumers. In 2004, Advanced Patch Technologies (APT), its distributor, Buckhead Marketing & Distribution LLC (Buckhead), and their officers, settled FTC charges of deceptive marketing based on their claims that, among other things, the “Peel Away the Pounds” patch would cause substantial weight loss when applied to the skin. That settlement required the defendants to pay more than $1 million in consumer redress. More...

Former Bank of China Managers and Their Wives Convicted for Stealing More Than $485 Million, Laundering Money Through Las Vegas Casinos

WASHINGTON – Two former managers of the Bank of China and their wives were convicted on Aug. 29, 2008, by a federal jury in Las Vegas on charges of racketeering, money laundering, international transportation of stolen property as well as passport and visa fraud, Acting Assistant Attorney General Matthew Friedrich of the Criminal Division and U.S. Attorney Gregory A. Brower of the District of Nevada announced today. Xu Chaofan (a/k/a Hui Yat Fai), Xu Guojun (a/k/a Hui Kit Shun), Kuang Wan Fang (a/k/a Wendy Kuang) and Yu Ying Yi were convicted after being charged in the 15-count superseding indictment on Jan. 31, 2006. Sentencing is scheduled for Nov. 24, 2008. Evidence presented during the trial established the elaborate scheme to defraud the Bank of China of at least $485 million, orchestrated by former managers Xu Chaofan, Xu Guojun and a third former bank manager, Yu Zhendong (a/k/a Yu Wing Chung) who pleaded guilty in connection with this investigation and cooperated with the Uni...