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1
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COMPLAINT
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EXTRACTED KEY WORDS
RESPONDENTS TRADE INVESTMENT COURSES KEN ROBERTS FEDERAL TRADE COMMISSION OFFICER ACTS COMMODITY FUTURES PRACTICES PURCHASERS TRADING PROFITS STOCKS MARKET TIME PERIOD SUCCESSFUL DISCLOSE RISK LOSS MONEY KRC SOLD MATERIALS REAL ESTATE INTERNET ADVERTISEMENTS COMPLAINT AFFECTING COMMERCE REPRESENTATION FUNDS |
9923298
UNITED STATES OF AMERICA
BEFORE THE FEDERAL TRADE COMMISSION
In the Matter of
THE TED WARREN CORPORATION, a corporation,
THE KEN ROBERTS INSTITUTE, INC., a corporation,
THE KEN ROBERTS COMPANY, a corporation, and
KEN ROBERTS, as an officer of the corporations.
DOCKET NO.
COMPLAINT
The Federal Trade Commission, having reason to believe that The Ted
Warren Corporation, The Ken Roberts Institute, Inc., and The Ken
Roberts Company, corporations, and Ken Roberts, as an officer of the
corporations ("proposed respondents") have violated the provisions of
the Federal Trade Commission Act, and it appearing to the Commission
that this proceeding is in the public interest, alleges:
1.a. Respondent The Ted Warren Corporation ("TWC") is an Oregon
corporation with its principal office or place of business at 128 S.W.
"I" Street, Grants Pass, OR 97526.
1.b. Respondent The Ken Roberts Institute, Inc., ("KRI") is an Oregon
corporation with its principal office or place of business at 333 S.W.
5th Street, Grants Pass, OR 97526.
1.c. Respondent The Ken Roberts Company ("KRC") is an Oregon
corporation with its principal office or place of business at 333 S.W.
5th Street, Grants Pass, OR 97526.
1.d. Respondent Ken Roberts is an officer of TWC, KRI, and KRC. As an
officer, Ken Roberts, individually or in concert with others,
formulates, directs, or controls, the policies, acts, or practices of
TWC, KRI, and KRC.
2. Respondents have advertised, offered for sale, sold, and
distributed materials ("Investment Courses") that purport to teach
purchasers how to profitably trade stocks, commodity futures and
options, and real estate. The Investment Courses sold by respondents
include the "TWC Stock Course" for trading stocks, the "KRI Investment
Portfolio" for creating an investment portfolio, the "KRC Commodity
Course" for trading commodity futures contracts and options, and the
"Jim Banks Probate Course," pursuant to a marketing agreement with
J.G. Banks, Inc., for purchasing real estate and personal property
through probate proceedings. Respondents have sold these Investment
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2
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ANALYSIS
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EXTRACTED KEY WORDS
INVESTMENT COURSES FUTURES RESPONDENTS TRADES PURCHASERS TRADING COMMODITY FUTURES CONSENT ORDER KEN ROBERTS TIME PERIOD COMMISSION AGREEMENT STOCKS FUNDS MARKET PAPER TRADES RISKS MONEY MATTER ADVERTISEMENTS MATERIALS REAL ESTATE TWC KRI KRC PROBATE PROCEEDINGS PRACTICE INSTRUCTION DISCLOSE |
Analysis of Proposed Consent Order
to Aid Public Comment
In the Matter of The Ted Warren Corporation, The Ken Roberts
Institute, Inc.,
The Ken Roberts Company, and Ken Roberts, File No. 992 3298
The Federal Trade Commission has accepted, subject to final approval,
an agreement containing a consent order from The Ted Warren
Corporation, The Ken Roberts Institute, Inc., and The Ken Roberts
Company, corporations, and Ken Roberts, as an officer of the
corporations (together, "respondents").
The proposed consent order has been placed on the public record for
thirty (30) days for receipt of comments by interested persons.
Comments received during this period will become part of the public
record. After thirty (30) days, the Commission will again review the
agreement and the comments received, and will decide whether it should
withdraw from the agreement or make final the agreement's proposed
order.
Respondents advertise and sell materials ("Investment Courses") that
purport to teach purchasers how to profitably trade stocks, commodity
futures and options, and real estate. The Investment Courses sold by
respondents include the "TWC Stock Course" for trading stocks, the
"KRI Investment Portfolio" for creating an investment portfolio, the
"KRC Commodity Course" for trading commodity futures contracts and
options, and the "Jim Banks Probate Course," pursuant to a marketing
agreement with J.G. Banks, Inc., for purchasing real estate and
personal property through probate proceedings. Respondents have sold
these Investment Courses through the Internet web site
www.kenroberts.net and related web sites.
This matter concerns respondents' allegedly deceptive representation
that purchasers of the Investment Courses who make profitable "paper
trades" - practice trades in which no funds are actually invested -
using techniques described in the Investment Courses during one time
period are likely to make profitable actual trades when their funds
are invested in the market during a later time period. This matter
also concerns the respondents' alleged failure to disclose the risks
associated with the trading techniques described in the Investment
Courses.
The proposed consent order contains provisions designed to prevent
respondents from engaging in similar acts and practices in the future.
Part I of the proposed consent order prohibits the respondents from
misrepresenting that purchasers of "investment courses" who make
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3
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AGREEMENT CONTAINING CONSENT
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EXTRACTED KEY WORDS
INVESTMENT COMMISSION COMPLAINT FEDERAL TRADE COMMISSION KEN ROBERTS OFFICER PROPOSED RESPONDENTS REPRESENTATION AGREEMENT DISCLOSURE INVESTMENT COURSES FUTURES ADVERTISEMENT TWC KRI KRC CONSUMER DRAFT COMPLAINT BUSINESS TED WARREN CORPORATION KEN ROBERTS COMPANY PRACTICES PRINCIPAL OFFICE PROCEEDING CONTRADICT PURCHASERS SALE EMPLOYMENT TRADING |
UNITED STATES OF AMERICA
FEDERAL TRADE COMMISSION
In the Matter of
THE TED WARREN CORPORATION, a corporation,
THE KEN ROBERTS INSTITUTE, INC., a corporation,
THE KEN ROBERTS COMPANY, a corporation, and
KEN ROBERTS, as an officer of the corporations
FILE NO. 992-3298
AGREEMENT CONTAINING CONSENT ORDER
The Federal Trade Commission has conducted an investigation of certain
acts and practices of The Ted Warren Corporation, The Ken Roberts
Institute, Inc., and The Ken Roberts Company, corporations, and Ken
Roberts, as an officer of the corporations ("proposed respondents").
Proposed respondents, having been represented by counsel, are willing
to enter into an agreement containing a consent order resolving the
allegations contained in the attached draft complaint. Therefore,
IT IS HEREBY AGREED by and between The Ted Warren Corporation, The Ken
Roberts Institute, Inc., and The Ken Roberts Company, by their duly
authorized officer, and, Ken Roberts, as an officer of the
corporations, and counsel for the Federal Trade Commission that:
1.a. Proposed respondent The Ted Warren Corporation ("TWC") is an
Oregon corporation with its principal office or place of business at
128 S.W. "I" Street, Grants Pass, OR 97526.
1.b. Proposed respondent The Ken Roberts Institute, Inc., ("KRI") is
an Oregon corporation with its principal office or place of business
at 333 S.W. 5th Street, Grants Pass, OR 97526.
1.c. Proposed respondent The Ken Roberts Company ("KRC") is an Oregon
corporation with its principal office or place of business at 333 S.W.
5th Street, Grants Pass, OR 97526.
1.d. Proposed respondent Ken Roberts is an officer of TWC, KRI, and
KRC. As an officer, Ken Roberts, individually or in concert with
others, formulates, directs, or controls, the policies, acts, or
practices of TWC, KRI, and KRC.
2. Proposed respondents admit all the jurisdictional facts set forth
in the draft complaint. This agreement is for settlement purposes only
in this proceeding and does not constitute an admission by proposed
respondents or findings by the Federal Trade Commission that the law
has been violated as alleged in the draft complaint, or that the facts
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