Financial Knowledge Network Inc. Most definitely IS a scam! The reason it is a scam, is because they target senior citizens with a high pressure pitch, and then refuse to refund them when they finally get off the phone and think about what they agreed to. The bulk of the company's resources are spent trying to figure out how to keep people in the deal that have no business being there. They do this by stringing along people who have asked for a refund within the terms of their agreement.
How many people do they service? Less than 100 per week, and almost half of those ask for a refund within a week. They do not pay their employees on time, this is well documented with the Florida Department of Labor. They have numerous lawsuits pending in several states related to violations of the Federal Do Not Call Registry.
They are in violation of FTC guidelines on several issues:
They do not retain a proper SANS number
They Charge Advance Fees in Violation of FTC rules
They do not properly honor DNC requests
They make unrealistic statements in their sales pitches
In addition they are in violation of Florida State Law in regards to proper licensing and regulation as a Telemarketing activity. They have improperly represented themselves to state authorities as a non-profit agency to avoid regulation.
If you have been offered a refund by this company or one of their aliases:
Financial Knowledge Network
Financial Educational Resources
Qualified Holdings and Management
Financial Wellness Council
You should immediately call your bank and charge back against this company for the full amount of the charge they made against your credit card. Currently they have over $1,000, 000 in unprocessed refunds, the majority of which will never be paid by this insolvent scam.
Keep watching this report for future information about possible class action activities.
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