A pandemic of consumer fraud has followed in COVID-19’s wake. Since the beginning of this year, the FTC has received more than 7,800 reports of scams related to COVID-19. Among these scams, many had focused on so-called “miracle” cures.
Recent miracle cure scams include:
• Vital Silver essential oil products, which the FTC and FDA allege are being marketed to mitigate, prevent, treat, diagnose, or cure COVID-19. Specifically, the company stated on its Facebook page that “it’s widely acknowledged in both science and the medical industry that ionic silver kills coronaviruses.” However, according to the FDA there are “no approved vaccines, drugs, or investigational products currently available to treat of prevent the virus.”
• Silver Sol Liquid, which the FTC and FDA also allege are being marked to mitigate, prevent, treat, diagnose, or cure COVID-19. For example, the company stated in one of its online videos that “But this influenza [sic] that is now circling the globe, you’re saying that Silver Solution would be effective? Well let’s say it hasn’t been tested on this strain of the coronavirus, but it’s been tested on other strains of the coronavirus, and has been able to eliminate it within 12 hours, totally eliminate it, kills it, deactivates it” In investigating this product, the FDA determined that the products were “misbranded”. On March 10th the Missouri Attorney General, Eric Schmitt, filed suit against the company making the product. The lawsuit seeks a permanent injunction prohibiting the further sale of the product as a treatment for COVID-19.
• Another company offered a “concierge medicine experience” wherein a doctor would provide, without need for a medical examination, Hydroxychloroquine and Azithromycin in exchange for $3,950. The doctor claimed that these drugs would provide a 100% cure for COVID-19 that would render customers immune to the virus for at least six weeks. Following an investigation into these allegations by the FBI and the FDA, a criminal indictment was filed against the doctor on April 16th.
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Faruqi & Faruqi, LLP focuses on complex civil litigation, including securities, antitrust, wage and hour and consumer class actions as well as shareholder derivative and merger and transactional litigation. The firm is headquartered in New York, and maintains offices in California, Georgia and Pennsylvania.
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About Timothy J. Peter
Timothy J. Peter is a Partner in Faruqi & Faruqi, LLP's Pennsylvania office and Chair of the firm's Consumer Protection Litigation Practice Group.
Timothy J. Peter
Partner at Faruqi & Faruqi, LLP
Pennsylvania office
Tel: (215) 277-5770
Fax: (215) 277-5771
E-mail: tpeter@faruqilaw.com
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