'Classic Closeouts' Settles With FTC Over Accusations of Bogus Charges

Owners of an online shopping club the Federal Trade Commission says swindled consumers out of millions of dollars via illegal credit card charges and bank account debits settled with the agency, agreeing to get out of the business.

The defendants, Classic Closeouts LLC, owner Daniel Greenberg, his wife Stephanie and others faced their first FTC complaint during Operation Short Change – a July 2009 crackdown on scammers taking advantage of the recession to bilk vulnerable consumers.