The Federal Trade Commission (FTC) and the State of Florida have filed a lawsuit against RivX, a Florida-based company, for allegedly running a deceptive trucking investment scam.
What happened: On August 28, 2024, the FTC announced that RivX was ordered to cease operations. RivX promised consumers could invest $75,000 to buy a semi-truck and earn passive income of $5,000 to $7,000 monthly.
The reality: According to FTC officials, "very few consumers received trucks, and none recouped their investment." Instead, the company pocketed millions of dollars while failing to deliver on their promises.
- The FTC claims RivX's owner, Antonio Rivodo, and executive, Noah Wooten, used false claims of guaranteed income to lure consumers.
- The company also allegedly threatened consumers with fines up to $100,000 for posting negative reviews online.
State's action: The lawsuit charges RivX with violating several laws, including the FTC Act and the Florida Deceptive and Unfair Trade Practices Act.
"Instead of delivering the lucrative returns, many consumers lost their life’s savings," said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection according to the FTC's press release. Levine emphasized the FTC's commitment to going after those who prey on consumers with bogus earnings claims.
The federal court has issued a temporary restraining order, halting RivX's operations and freezing its assets. The case is being handled in the U.S. District Court for the Southern District of Florida.