This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
Federal regulators have begun distributing $4.4 million in refund checks to consumers who bought Internet business "coaching" programs for up to $20,000 from Ivy Capital Inc., part of a series of interrelated companies tied to Utah and Nevada.
The refunds come from a Federal Trade Commission settlement with Ivy Capital, which is registered in Nevada with offices in Utah and was part of a web of companies from both states that sold online products.
The FTC sued Ivy Capital and 29 companies and their officers in 2011 in Las Vegas, allegedly they fraudulently took in $130 million by claiming purchasers could make up to $10,000 a month by starting online businesses.
Ivy Capital and other entities — including owners Steven E. Lyman, John H. Harrison and Kyle G. Kirschbaum — entered a settlement in 2012 in which they were found liable for $130 million, which was suspended on condition they forfeit all corporate assets.
Ivy Capital Utah Inc. and Ivy Capital Group LLC were registered in Utah, while Ivy Capital LLC was a Nevada corporation. Lyman, Harrison and Kirschbaum were named as Ivy Capital officers in the FTC complaint.
Other Utah companies named in the lawsuit were Fortune Learning LLC of Orem, The Shipper LLC that also was known as wholesalematch.com of Orem and Mowab Inc. of Draper. Steven J. Sonnenberg is named as the manager of Fortune Learning and The Shipper.
The FTC said consumers who bought form Ivy Capital would get about 55 percent of their money back and checks would arrive within 60 days. Questions can be directed to 1-866-591-7254 or http://www.ftc.gov/refunds.