Day Trader To Pay $3M To Settle FTC Claim He Duped Novices – Law360

By Ivan Moreno (April 20, 2022, 5:21 PM EDT) — The owner of a day trading program will pay $3 million to settle a Federal Trade Commission lawsuit alleging his business swindled millions of dollars from inexperienced investors by deceiving them about the profits they’d reap with paid training courses.

The FTC announced the deal Tuesday, the same day it filed its complaint in Massachusetts federal court alleging Warrior Trading and CEO Ross Cameron generated “tens of millions of dollars” by selling day trading programs from January 2018 through March 2021.

During that span, the FTC said Warrior Trading spent nearly $13 million on advertising to entice customers to spend hundreds…

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