Australians eligible for $20 million Skybiz refund

Around 156,000 Australian Skybiz.com consumers may be able to reclaim some money they spent on the internet pyramid scheme from a US$20 million settlement fund administered by the United States Federal Trade Commission (FTC).

"Many consumers believed the scheme was a legitimate business", ACCC Chairman, Mr Graeme Samuel, said today.

"The FTC has secured US$20 million for consumer redress following legal action against Skybiz.Com Inc in the United States.

"Consumers in Japan, United States, Australia, Canada and United Kingdom are among the thousands of consumers worldwide affected by the Skybiz scam".

Mr Samuel said consumer protection agencies from the International Consumer Protection Enforcement Network (ICPEN*) were working together to inform consumers in their country about the Skybiz redress fund.

"Consumers who joined the Skybiz scam can make a claim by submitting an online claim form at the Skybiz redress fund website at www.skybiz-redress.com. To make a claim a consumer needs the website name purchased from Skybiz.com, original email address or the telephone number and city submitted to Skybiz.com.

"The closing date for the redress fund has been extended indefinitely to give consumers worldwide further opportunity to lodge a claim.

"The FTC redress fund is in addition to Federal Court orders the ACCC obtained in Australia in September 2002 against Skybiz.Com Inc and an individual participant in the pyramid scheme for contravening the pyramid selling and consumer protection provisions of the Trade Practices Act 1974".

Background

* Current member countries: Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Estonia, EU, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Korea (Republic of), Latvia, Lithuania, Luxembourg, Malta, Mexico, Netherlands, New Zealand, Norway, OECD, Poland, Portugal, Slovak Republic, Spain, Sweden, Switzerland, UK, USA. For more details visit the ICPEN website www.icpen.org.