Miami Judge Halts Alleged $26M Scam Targeting Inventors
World Patent Marketing allegedly duped potential entrepreneurs by touting nonexistent services and business relationships.
August 29, 2017 at 12:30 PM
6 minute read
A Miami federal judge froze the assets of an invention-promotion company that allegedly scammed thousands of prospective entrepreneurs by falsely claiming connections to Target, Walmart and the creator of the Snuggie blanket.
The Federal Trade Commission persuaded U.S. District Judge Darrin Gayles to issue a preliminary injunction against World Patent Marketing, which offered inventors help securing patents and promoting their products.
“It is especially troubling that in a little over two years, WPM had nearly $26 million in gross revenue, yet no identifiable customers realized a profit, sold a meaningful number of units, or entered into significant licensing agreements as a result of using WPM's services,” Gayles wrote in his Aug. 16 order. “That [the] defendants' services may have provided some value to customers is of no consequence.”
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