We can’t say it enough. Hang up on that telemarketer! Nothing good can come of phone calls soliciting your money. 

The latest painful lesson comes in the form of a $9 million scam that targeted thousands of retired people and retired military personnel all across America. A Federal Trade Commission (FTC) complaint filed in federal district court in Arizona lays out the scheme that offered a sure-fire way to make money.

Telemarketers offered the opportunity to invest in e-commerce websites or websites that link to popular sites like Amazon. They promised a risk-free, high-profit investment with a money-back guarantee.  

Consumers who fell for the sales pitch made payments of hundreds of dollars to as much as $20,000 by credit card.  When consumers called to check on their investments during the first 90 days, the FTC says scammers reassured them. They allegedly told consumers they held the money in secure accounts that continued to earn more money. But after 90 days, when most credit card companies limit the ability of consumers to dispute charges, the company stopped responding to calls or email queries.

The FTC’s complaint says Susan Rodriguez, Matthew Rodriguez and William “Matt” Whitley used six corporations: Advertising Strategies LLC, Internet Advertising Solutions LLC, Internet Resource Group Inc., Network Advertising Systems LLC, Network Professional Systems LLC, and Network Solutions Group Inc.

They also disguised their location by using mail-forwarding services and they changed their business name and mailing and physical addresses to avoid detection by law enforcement.

The FTC says the defendants most recently have done business as Titan Income. They previously did business as Building Money Network and buildingmoney.cash, Prime Cash and Primecash.net, and Wyze Money and wyzemoney.net.

A federal judge froze their assets while the case is under review.