So, zango has to pay a 3.000.000USD fine...What happens with the money? - GoFuckYourself.com

justsexxx · 11-07-2006, 05:47 AM

Just curious, they have to pay to the FTC...What do they do with that money? Does it go directly to the government for general purposes?

studiocritic · 11-07-2006, 06:13 AM

thats correct, in simple terms

boobshare · 11-07-2006, 06:55 AM

I was wondering that myself. It would be near impossible to compensate people who had their traffic swiped from under them, but it doesn't seem entirely fair that the USA govt gets to collect a free $3m from it all

jacklaidlaw · 11-07-2006, 06:56 AM

it should go to the people affected with the illegal installs why should the goverment profit from other ppls shit

sixstringmoneymachine · 11-07-2006, 06:58 AM

As studiocritic said, for the most part.

When the FTC brings an action like this there's usually quite a large-scale investigation done by government lawyers and such -- so there is an actual bill for what resulted in the judgement or settlement.

The remainder goes into a fund to investigate other claims brought before the FTC.

hydro · 11-07-2006, 06:59 AM

well you have to pay the lawyers

-$700,000

then theres the expenses of dinners, gas, strippers in the waiting room

-$200,000

and the processing fees

-$345,000

The rest goes who knows where

sixstringmoneymachine · 11-07-2006, 07:01 AM

Addendum...

This is in the case of a settlement. If the monetary penalty is the result of an actual judgement for redress the money is used for redress to those affected. It's one of those deals where you get a letter stating you're entitled to a part of a settlement if you puchased such-and-such from so-and-so between the dates of x and y. So you reply and 18 monhts later receive a check for 52 cents.

studiocritic · 11-07-2006, 07:01 AM

Quote:

Originally Posted by sixstringmoneymachine

As studiocritic said, for the most part.

When the FTC brings an action like this there's usually quite a large-scale investigation done by government lawyers and such -- so there is an actual bill for what resulted in the judgement or settlement.

The remainder goes into a fund to investigate other claims brought before the FTC.

yep.. this is what i meant by simply.. there are huge lawyer bills that arise from these investigations/trials.. and they don't win all their trials, so sometimes they take a loss.

the FTC's investigations are meant to benefit and protect American consumers from American companies.

the "gains" from any such settlements are used to continue to be vigilant and explore any potential fraud. this is one government agency that definitely serves an important role

Pipeline Q · 11-07-2006, 07:09 AM

now that they've been nailed by the FTC, wouldn't it make a civil suit easier?

sixstringmoneymachine · 11-07-2006, 07:10 AM

Quote:

Originally Posted by Pipeline Q

now that they've been nailed by the FTC, wouldn't it make a civil suit easier?

Not neccessarily. The point of a company settling is to avoid being found guilty of a "wrong doing." The inherant nature of a settlement is to avoid fault.

justsexxx · 11-07-2006, 07:45 AM

Thanks for the answers. I was curious

11-07-2006, 05:47 AM	#1
justsexxx Too lazy to set a custom title Join Date: Aug 2001 Location: The Netherlands Posts: 13,723	So, zango has to pay a 3.000.000USD fine...What happens with the money? Just curious, they have to pay to the FTC...What do they do with that money? Does it go directly to the government for general purposes? __________________ Questions? ICQ: 125184542

11-07-2006, 06:13 AM	#2
studiocritic Confirmed User Join Date: Jun 2005 Location: Irvine, CA Posts: 2,442	thats correct, in simple terms __________________ 254342256

11-07-2006, 06:56 AM	#4
jacklaidlaw Confirmed User Join Date: Sep 2006 Posts: 728	it should go to the people affected with the illegal installs why should the goverment profit from other ppls shit __________________

11-07-2006, 07:45 AM	#11
justsexxx Too lazy to set a custom title Join Date: Aug 2001 Location: The Netherlands Posts: 13,723	Thanks for the answers. I was curious __________________ Questions? ICQ: 125184542

11-07-2006, 06:55 AM	#3
boobshare Registered User Join Date: Nov 2006 Posts: 65	I was wondering that myself. It would be near impossible to compensate people who had their traffic swiped from under them, but it doesn't seem entirely fair that the USA govt gets to collect a free $3m from it all

11-07-2006, 06:58 AM	#5
sixstringmoneymachine Confirmed User Join Date: Oct 2006 Posts: 199	As studiocritic said, for the most part. When the FTC brings an action like this there's usually quite a large-scale investigation done by government lawyers and such -- so there is an actual bill for what resulted in the judgement or settlement. The remainder goes into a fund to investigate other claims brought before the FTC.

11-07-2006, 06:59 AM	#6
hydro Confirmed User Join Date: Dec 2003 Location: Dirty 3rd Posts: 4,216	well you have to pay the lawyers -$700,000 then theres the expenses of dinners, gas, strippers in the waiting room -$200,000 and the processing fees -$345,000 The rest goes who knows where

11-07-2006, 07:01 AM	#7
sixstringmoneymachine Confirmed User Join Date: Oct 2006 Posts: 199	Addendum... This is in the case of a settlement. If the monetary penalty is the result of an actual judgement for redress the money is used for redress to those affected. It's one of those deals where you get a letter stating you're entitled to a part of a settlement if you puchased such-and-such from so-and-so between the dates of x and y. So you reply and 18 monhts later receive a check for 52 cents.

11-07-2006, 07:09 AM	#9
Pipeline Q Confirmed User Join Date: Dec 2004 Posts: 3,891	now that they've been nailed by the FTC, wouldn't it make a civil suit easier?