FTC: American Tax Relief ran $60 million scam as owners drove Ferraris

The Federal Trade Commission put the brakes on a massive tax relief scam it says cheated struggling consumers nationwide out of more than $60 million while its owners lived lavishly and collected luxury cars, including Ferraris, Bentleys and Rolls-Royces.

The FTC, which is seeking compensation from American Tax Relief for its victims, asked a Chicago federal judge to halt the company's operations and freeze its owners' assets. The FTC lawsuit names names American Tax Relief LLC of Beverly Hills, Calif. and its two co-owners, Alexander Seung Hahn and Joo Hyun Park. Park's parents, Young Soon Park and Il Kon Park, are also named for allegedly holding funds obtained from customers.

"We've made it a top priority to go after scammers who try to exploit the financial hardship of others," said David C. Vladeck, Director of the FTC's Bureau of Consumer Protection, in a statement. "For people having a tough time paying their taxes, the last thing they need is to lose more money to a fraud."