A federal judge in Maryland has denied a defendant connected to Raging Bull’s motion to dismiss claims filed by the Federal Trade Commission that alleged he helped the subscription-based investment training company defraud consumers over $137 million.
The individual defendant, Kyle Dennis, a “salesman and trading instructor” with Raging Bull, filed a motion to dismiss the FTC’s complaint against him. The FTC alleged that Dennis violated two counts of Section 5(a) of the FTC Act by “‘represent[ing], directly or indirectly, expressly or by implication, that consumers who purchase Raging Bull’s services will earn or are likely to earn substantial income,’” according to the court’s opinion filed March 15 in U.S. District Court for the District of Maryland.
