‘Platinum’ Credit Card Scam: $7.4M in Refunds Sent to Harmed Consumers

The Federal Trade Commission said today that it has mailed 70,511 refund checks to consumers who lost money to a scheme that sold bogus “platinum” credit cards and illegally debited consumers’ bank accounts.

Under a court settlement from September 2012, the FTC said that Blake Rubin, Chase Rubin, and Justin Diaczuk, who ran the Platinum Trust Card and Express Platinum Card scam, were permanently banned from telemarketing and from selling any type of credit card product or service.

More than $7.4 million is being returned to consumers. Payments represent 97 percent of their loss. The refund checks were mailed Jan. 16.

Consumers who receive the checks from the FTC’s refund administrator should cash them on or before March 16, 2013.

The FTC never requires consumers to pay money or provide information before redress checks can be cashed.

Those with questions should call the refund administrator, Gilardi & Co., LLC, at 1-877-282-8781, or visit www.FTC.gov/refunds.

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