A federal court has frozen the bank accounts of Jeremy Johnson and his partners for allegedly defrauding more than $275 million U.S. dollars. The claim is based on false promises of “free” government offers. The program attracted more than half a million cardholders to get money from their banks. The Federal Trade Commission states that Johnson and nine others “violated the FTC Act by misrepresenting government grants are available to pay personal expenses that consumers are likely to receive grants under the program of the accused that the users of their products earning income will be important and that their offerings are free or without risk.”

FTC said Johnson and his “I work” collectively boasted free trial subscription via websites that dangles wealth or the alleged subsidy could be obtained from the government to pay personal expenses. Once registered, I Work or any of its sixty-one subsidiaries would then charge consumers’ accounts with credit card charges for monthly fees and membership events.

Source: WalletPop