Utah Court Slams “Amazon Store” Scammer Parker Wilde with $7.9 Million Judgment
SALT LAKE CITY – In a significant victory for consumer protection, Utah’s 4th District Court has ordered Parker Wilde to pay a monetary judgment of up to $7.9 million. This landmark ruling comes just ten months after the Utah Division of Consumer Protection initiated a complaint, alleging Wilde orchestrated a sophisticated scheme that defrauded hundreds of individuals out of millions through deceptive “automated Amazon store” business opportunities.
The Elaborate Deception: Promises of Passive Income
Between 2020 and 2023, Parker Wilde, a Utah resident and Brigham Young University graduate, aggressively marketed what he claimed were lucrative Amazon store ventures. His pitch was simple yet devastatingly effective: consumers would invest in an automated Amazon business promising substantial passive income.
The fraudulent operation involved two primary financial commitments from consumers:
- An upfront “consulting fee” ranging from $5,000 to $20,000.
- An additional “inventory cost” of $7,000 to $10,000 for each product type intended for sale on the Amazon store.
In exchange for these significant investments, Wilde promised a monthly passive profit of $2,500 to $7,200 (and more) within 60 days. He also guaranteed a full refund if the store failed to turn a profit within the first 12 months, assuring investors that his expert team would manage and operate the stores entirely.
Unraveling the Lies: A Trail of Broken Promises and Financial Misuse
A two-year investigation by the Utah Division of Consumer Protection exposed the stark reality behind Wilde’s enticing claims. The division found that:
- Many consumers never received a functional Amazon store.
- Numerous products were never launched.
- Not a single profitable Amazon store was established by Wilde for any complainant.
- Despite the money-back guarantee, no complainant received a full refund.
Alarmingly, the investigation also uncovered evidence of egregious financial misconduct. Many complainants reported unauthorized credit card purchases. Bank records further revealed that Wilde diverted the majority of consumer funds, not to their promised businesses, but to purchase cryptocurrency for his personal gain and to settle his own credit card debts. This brazen misuse of funds underscored the predatory nature of his business model.
Justice Prevails: Court Delivers a Resounding Verdict
The Thursday court order not only mandates the substantial monetary judgment but also imposes a permanent prohibition on Parker Wilde. He is now barred from participating in any money-making schemes, engaging in telemarketing, or offering any business opportunities for sale within the state of Utah. This decisive action aims to prevent him from exploiting other individuals in the future.
“This is a monumental win for the division and, more importantly, for the consumers Parker Wilde deceived,” stated Katherine Hass, Director of the Division of Consumer Protection. “The substantial award sends a clear warning to anyone considering similar deceptive practices in Utah. We will hold those who violate the trust of Utahns fully accountable.”
Protecting Yourself from Online Business Scams
This case serves as a critical reminder of the pervasive threat of online business scams, particularly those promising rapid, passive income with minimal effort. While legitimate opportunities exist, vigilance is paramount.
Before investing in any “passive income” or “business opportunity” scheme:
- Research Thoroughly: Verify the legitimacy of the company and its principals. Look for independent reviews and testimonials, not just those provided by the seller.
- Be Skeptical of High Guarantees: Promises of guaranteed high returns with no risk are major red flags.
- Understand the Business Model: Ensure you fully comprehend how the business generates income and what your role entails.
- Consult Experts: Seek advice from a financial advisor or an attorney before making significant investments.
- Check with Consumer Protection Agencies: Organizations like the Utah Division of Consumer Protection or the Federal Trade Commission (FTC) offer resources and databases to check for reported scams.
A Strong Message Against Fraud
The court’s judgment against Parker Wilde sends an unequivocal message: those who exploit the trust of consumers through fraudulent schemes will face severe repercussions. This case, reported by outlets like KSL, highlights the ongoing efforts to safeguard individuals from sophisticated online business opportunity scams and reinforces the commitment to consumer protection in Utah and beyond.
