Lights of America BUSTED by FTC for Misleading LED Claims; Forced to Pay $21M

Editor’s Note:  Your humble editor first met Usman Vakil at his facility in Southern California in the late 1990’s.  I was there to sell him ballasts and he had no interest.  As I made my pitch, he constantly looked at his computer screen.  Since the meeting was not going well, I had nothing to lose so I asked him what was so important on his computer.  Remember these are the very early days of the Internet.  He told me that he was watching his stocks and during the time of our meeting, he earned more money on his investments than I would earn in an entire year.   Unfortunately, he was probably right.   It is interesting to now see his predicament.

Read more at ftc.gov.