Share “FTC bars couple from health care business”

FTC bars couple from health care business

Published on NewsOK Modified: February 20, 2013 at 2:17 pm •  Published: February 20, 2013

The settlement, in a Florida court Tuesday, includes an $11.8 million judgment against the couple that was suspended after they surrendered their assets to the FTC.

In September the FTC sued the IAB and a slew of related companies. It's still in litigation with the people who ran those businesses: James Wood, his sons James and Michael, and his brother Gary.

The Independent Association of Businesses said the United States District Court for the Southern District of Florida entered a preliminary injunction against it in October. It cannot sell or promote any products and services related to medical discount plans or health-related insurance benefits.

According to its website, the IAB is in receivership, which means the court has appointed an independent person to take custody of the business while litigation continues.