Markets Wired

A federal court judge has approved a stipulated order lifting the partial suspension of a $200,000 judgment imposed in an original order settling Federal Trade Commission charges against Vito Glazers, a defendant in a 2014 text spam case.

The judge signed a new order requiring Glazers to pay the $180,000 owed on the judgment. The Commission presented evidence to the court that Glazers hid about $450,000 in assets and misrepresented his financial condition that was the basis for the partial suspension of the judgment.

“The moral of this story is plain and simple — don’t mislead the Commission about your financial condition or attempt to hide assets,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “If you do, we will find out, and we will not hesitate to collect every penny you owe under the law.”

In 2014, Glazers agreed to a court order settling the Commission’s charges related to a spam text message scheme. The settlement imposed a $200,000 judgment against Glazers that was suspended due to his supposed inability to pay. It required Glazers to turn over $20,000 in cash plus the proceeds from the sale of certain assets. It also included an “avalanche clause,” stating that if any of the defendants misrepresented their assets or ability to pay, the full judgment against them would become due.

Glazers has agreed to the new stipulated order based on information presented by the agency in its motion to reinstate the full judgment. The Commission’s evidence demonstrates that he failed to disclose nearly $448,000 in assets he withdrew from a bank account five months before signing the financial disclosure, triggering the avalanche clause.

Accordingly, the stipulated order lifts the partial suspension of the $200,000 judgment against Glazers and requires him to pay the outstanding $180,000 within seven days.

The FTC filed the stipulated order in the U.S. District Court for the Northern District of Illinois on October 31, 2016, and it has now been signed by the judge.

NOTE: Stipulated orders have the force of law when approved and signed by the District Court judge.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook, follow us on Twitter, read our blogs and subscribe to press releases for the latest FTC news and resources.