After the Vemma hearing that was held this Tuesday, the judge took his 3 days to make a decision. Essentially, the injunction was granted in part and denied in part.
Tom Alkazin argues that the FTC has not met its burden to show he is liable under the FTC Act for Vemma’s operation of a pyramid scheme, and the Court agrees. Accordingly, the Court denies the FTC’s request for a preliminary injunction against Mr. Alkazin with regard to the operation of an illegal pyramid scheme.
An asset freeze was not warranted by the court due to the fact that the FTC did not provide adequate documentation that Vemma would be deceptive and this would be required.
A receivor has no longer been granted
The Court is mindful that allowing the Corporate Defendants to resume operation of their business and unfreezing associated