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BlueHippo Scam Collected $15M, Only Shipped One PC
An anonymous reader writes "Turns out that those BlueHippo commercials advertising financing for computers and other electronics for anybody, regardless of credit, were way more sleazy than you thought. The FTC is bringing this fraud down, but not too soon. 'According to the FTC, the company's brazen business model continued without interruption after the 2008 settlement. "In fact, in the year following entry of this Court's Stipulated Final Judgment and Order for a Permanent Injunction, BlueHippo financed — at most — a single computer to the over 35,000 consumers who placed orders for computers that could be financed during the period,' the FTC told a court (PDF) yesterday. In the meantime, the company took in a cool $15 million in payments from consumers, who don't appear to have received anything in return.'"
The fine print clearly stated
Oxymoron
-IOVAR Web Dev Platform
This is the first time that the Nyquist sampling theorem has had an application to legal bullshit, I think. Wow.
At least they used HTTPS.
The problem with BlueHippo was they thought small. If they got too big to fail then everything would have been alright.