Feds, states announce major action against scams with 'hundreds of thousands' of victims

Targeting scams that prey on people vulnerable because of the down economy, federal and state officials announced today a laundry list of legal actions including a lawsuit against a collection of get rich quick schemes that lured "hundreds of thousands" of victims who paid out about $300 million.

The companies allegedly jointly operating the schemes, including John Beck's Amazing Profits and Mentoring of America, marketed them heavily through television infomercials. They sold guides to their supposed systems of quick paths to wealth for $39.95 and charged an additional $39.95 a month after that.