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FTC Wants Blue Hippo Held in Contempt

MANHATTAN (CN) - The FTC wants Blue Hippo Funding held in contempt for taking more than $15 million from victims on false claims that it would finance their purchase of new computers. Blue Hippo took the money but delivered neither the financing nor the computers, in violation of a 2008 court order, the FTC says.

Fewer than 1 percent of consumers who signed up with Blue Hippo received the financed computers they applied for, and undisclosed conditions to redeem "store credits" were rigged to discourage consumers from using them, the FTC said in a statement.

The FTC seeks damages for the consumers and an injunction.

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