NEW YORK (Legal Newsline) – A federal court, at the request
of the Federal Trade Commission, has found BlueHippo Funding LLC,
BlueHippo Capital LLC and Joseph Rensin in contempt for allegedly operating a
computer financing scheme that deceived consumers in violation of a 2008 agreement.
“This scheme preyed on cash-strapped consumers looking for
computers to improve their lives and the lives of their children,” Jessica
Rich, director of the Federal Trade Commission’s Bureau of Consumer
Protection, said. “This case shows that the FTC not only takes decisive action
against wrongdoers, but also does whatever it takes to see the case through to a
Joseph Rensin, the CEO of BlueHippo, will owe $13.4 million
for the harm consumers suffered as a result of his company’s alleged scheme.
The FTC claimed that BlueHippo disregarded a 2008 order by
contracting with thousands of consumers to finance new computers, but failed
to provide the computers or disclose any refund policy aspects.