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Derek R. Oberholtzer, Apply2Save Inc., and Sleeping Giant Media Works, Inc. allegedly charged consumers up to $995 in advance for promised mortgage loan modification services. Once they were paid, they often failed to answer or return consumers’ telephone calls and sometimes falsely blamed delays on lenders, even though they had made little or no effort to contact lenders, the FTC charged. Most consumers who got loan modifications or avoided foreclosure did so only through their own efforts. (7/15/2009 release http://www.ftc.gov/opa/2009/07/loanlies.shtm)
The defendants have filed for bankruptcy. The order imposes a judgment of more than $4 million, which is suspended based on their inability to pay. The full judgment will become due immediately if they are found to have misrepresented their financial condition. The order was filed in the U.S. District Court for the District of Idaho.
Federal Trade Commission, Plaintiff, v. Apply2Save, Inc. a corporation, Sleeping Giant Media Works, Inc, a corporation, and Derek R. Oberholtzer, individually and as an officer of Apply2Save, Inc., and Sleeping Giant Media Works, Inc., Defendants
(United States District Court for the District of Idaho)
FTC File No. 092 3117
June 17, 2010
- Stipulated Final Order for Permanent Injunction and Other Equitable Relief Against Defendants Apply2Save, Inc., Sleeping Giant Media Works, Inc. and Derek Oberholtzer
- News Release
July 15, 2009
- Complaint for Permanent Injunction and Other Equitable Relief
- News Release
The Federal Trade Commission is a member of the interagency Financial Fraud Enforcement Task Force. For more information on the task force, go to www.stopfraud.gov.
NOTE: The Commission authorizes the filing of a complaint when it has “reason to believe” that the law has been or is being violated, and it appears to the Commission that a proceeding is in the public interest. The complaint is not a finding or ruling that the defendants have actually violated the law. Stipulated court orders are for settlement purposes only and do not necessarily constitute an admission by the defendants of a law violation. Stipulated orders have the full force of law when signed by the judge.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,800 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s Web site provides free information on a variety of consumer topics.
