Robert Shemin, associated with the Ganadores scam involving false earnings claims in real estate and ecommerce business opportunities, faces a lifetime ban from the industry following a Federal Trade Commission (FTC) lawsuit. The FTC alleged that the operation led by Shemin resulted in significant financial losses for consumers.
The complaint detailed how Shemin and Ganadores promoted an "infallible system" promising financial independence through real estate investing and online businesses. Consumers paid substantial sums for training and coaching that did not meet these promises.
"This operation’s deceptive claims about making money in real estate investing and online businesses cost consumers nationwide millions," stated Christopher Mufarrige, Director of the FTC’s Bureau of Consumer Protection. "Today’s settlement brings this case to a close, but the FTC will remain vigilant for scammers looking to take advantage of consumers seeking financial independence."
Under the proposed order, Shemin is permanently banned from marketing or selling any business coaching related to ecommerce or real estate. He must substantiate any earnings claims made about products or services he markets or sells and turn over funds for consumer refunds.
The monetary judgment totals $20,268,895 but is largely suspended due to Shemin's inability to pay. Should he be found dishonest about his financial status, the full amount will become payable immediately.
Other defendants in this case have already settled with similar bans and prohibitions, surrendering more than $6 million in assets for consumer refunds.
The Commission approved the stipulated final order with a 2-0-1 vote. Commissioner Melissa Holyoak recused herself due to previous work as Solicitor General of Utah. The proposed order was filed in the U.S. District Court for the Middle District of Florida.
Stipulated final orders or injunctions become legally binding when approved by a District Court judge.
FTC staff attorneys J. Ronald Brooke Jr. and Virginia Rosa handled this matter within the FTC’s Bureau of Consumer Protection.
The Federal Trade Commission promotes competition while protecting and educating consumers. They caution against demands for money transfers or promises of prizes as potential scams. More information on consumer topics can be found at consumer.ftc.gov, with fraud reports accepted at ReportFraud.ftc.gov.
