FTC & Florida sue over ‘passive income’ trucking scheme that they say cost consumers millions

The Federal Trade Commission (FTC) and the State of Florida filed a lawsuit against a company that they say deceived consumers by offering illegitimate trucking investment opportunities.

On August 28, 2024, the FTC announced that Florida-based company RivX was served a federal order to cease operations. The company is accused of violating the FTC Act, the FTC’s Business Opportunity Rule, the Florida Deceptive and Unfair Trade Practices Act, and the Consumer Review Fairness Act.

The federal order was issued after a lawsuit was filed against RivX by the FTC and the Florida Office of Attorney General.

According to the suit, RivX, along with its owner Antonio Rivodo and company executive Noah Wooten “used deceptive claims of guaranteed income to entice consumers to pay $75,000 dollars or more to buy trucks that they often never received.”

Officials say that RivX promised consumers that for around $75,000, the company would purchase a semi truck on behalf of the consumer and operate it in their name. The promise included that RivX would secure truck drivers and loads and would manage the logistics of operating the truck for the consumer.

RivX reportedly told consumers that they could generate “passive income” totaling $5000 to $7000 every month from their truck, and that the business could be set up in as little as 60 days.

However, according to the FTC, “very few consumers have ever received trucks, and none have been able to recoup their investment, much less make any profit.”

From the FTC:

“RivX has littered the internet, according to the complaint, with videos featuring Rivodo making false claims on social media and other sites of guaranteed income. When consumers reach out to RivX, they hear more false income claims from Rivodo and Wooten and even receive documentation saying that if they fail to make the promised profits, RivX will return their initial investment.

According to the complaint, RivX, Rivodo and Wooten have pocketed millions of dollars from consumers while failing to provide anything approaching the profits they promised. In addition, the company’s contracts include unlawful provisions that make consumers liable for as much as $100,000 every time they publicly complain about the company or leave a negative review online.“

“Defendants tricked consumers into paying tens of thousands of dollars each with false promises that they would operate a trucking business for the consumer,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “Instead of receiving the lucrative returns promised by defendants, many consumers lost their life’s savings. The FTC will continue to aggressively pursue those who prey on consumers with bogus earnings claims.”