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July 16, 2009 in Business

Apply 2 Save faces FTC lawsuit

Federal action follows Idaho suit in April; part of Operation Loan Lies
Bert Caldwell bertc@spokesman.com, (509) 459-5450
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Tags: Apply 2 Save Inc. Attorney General Lawrence Wasden Derek Oberholtzer Sleeping Giant Media Works Inc. the Federal Trade Commission

Federal Trade Commission Chairman Jon Leibowitz points to a display of an advertisement that appears to be a government agency, but is actually a scam, as he announces lawsuits to shut down large-scale loan modification scams in Los Angeles and Orange counties, at a news conference in Los Angeles on Wednesday.
(Full-size photo)

The Federal Trade Commission has sued Apply 2 Save Inc., and on Wednesday filed an injunction in U.S. District Court in Coeur d’Alene barring the company and President Derek Oberholtzer from engaging in any mortgage loan or foreclosure relief activity.

Another Oberholtzer-controlled company, Sleeping Giant Media Works Inc., is also subject to the agreement negotiated with the FTC.

The lawsuit is one of several announced Wednesday by FTC Chairman Jon Leibowitz and California Attorney General Jerry Brown. The action is one of 189 taken by federal and state authorities against individuals and companies that peddled mortgage-relief services to consumers, then …

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