It sounded like a great idea for cash-strapped consumers looking for an affordable computer system…and that’s what “Blue Hippo” promoted: Easy Financing for just about anyone, and a full computer set-up to start their plunge into the digital age.
All with affordable monthly payments. But the FTC busted them years ago, way back in 2008, for not delivering what they promised and allegedly leaving customers with big bills and not much more.
That was years ago. Now, they’ve been hit with a Federal Contempt Citation for the second time and a huge multi-million dollar judgement against them for “operating a deceptive computer financing scheme” according to the Federal Trade Commision.
Is the “Blue Hippo” finally outta business?
FTC Obtains $13.4 Million Judgment Against Former BlueHippo Defendant
Defendants Found in Contempt of Federal Court Order
At the Federal Trade Commission’s request, a federal court has found BlueHippo Funding LLC, BlueHippo Capital LLC and Joseph Rensin in contempt for operating a deceptive computer financing scheme in violation of a federal court order that the defendants agreed to in 2008. The court also entered judgment against Rensin, BlueHippo’s CEO, for $13.4 million, the harm consumers suffered as a result of the scheme.
“This scheme preyed on cash-strapped consumers looking for computers to improve their lives and the lives of their children,” said Jessica Rich, the Director of the Federal Trade Commission’s Bureau of Consumer Protection. “This case shows that the FTC not only takes decisive action against wrongdoers, but also does whatever it takes to see the case through to a fair conclusion.”
Here’s a background story, from Nov. 2009, about how it all worked:
FTC: BlueHippo pocketed $15 million, only shipped one PC
Here’s Monday’s FTC filing, which includes all the background court case information.
BlueHippo Funding, LLC, and BlueHippo Capital, LLC
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