Infomercial pitchman Kevin Trudeau lost his bid to throw out a $37.6 million fine for violating a 2004 Federal Trade Commission settlement over his advertising and a federal appeals court said the amount might even be too low.
Trudeau argued that U.S. District Judge Robert Gettleman in Chicago wrongly based the fine on consumer losses rather than his unjust gain.
Trudeau has long battled federal regulators over his marketing of “cures” for such conditions as AIDS, hair loss, memory loss, obesity and financial distress.
No sympathy here. I hope this criminal disappears from the public view permanently but he has previously been one of those unsinkable rubber ducks.
UPDATE (Dec, 17, 2011): Business Insider has picked up this story. It provides a history of his scams and notes, he’s STILL at it, hawking coral calcium crap.
The new ruling requires Trudeau to give back all the money he made from selling books during the infomercial ban. The ruling offers these juicy tidbits about the size of Trudeau’s operation:
- Trudeau’s Weight Loss Cure infomercial sold thousands of books each day for many months.
- Trudeau aired infomercials in violation of the order at least 32,000 times.
- The infomercial ban does not violate the First Amendment because the government has the right to protect consumers by imposing narrowly tailored restrictions on commercial speech.
- Trudeau assigned his rights to payment from his company’s assets to ITV Global in exchange for ten years of monthly million-dollar checks in order to steady his cashflow.