Shaun Olmstead et al. v. Federal Trade Commission
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One unique type is the limited liability company (LLC). Perform some research in the University Library and find an article describing an LLC. Post the article name and the database in which you found it. What did you learned about LLCs from the article? Article is attached.
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The post provides a detailed discussion on the Shaun Olmstead et al. v. Federal Trade Commission case. References are provided.
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In the case of Shaun Olmstead et al. v. Federal Trade Commission, 44 so 3d 76 (June 24, 2010), the defendants, Shaun Olmstead and Julie Connell defrauded 200,000 members of the public. In an LLC, the owners typically have the privilege of limited liability, whereas the owners cannot be held liable for the debts of the LLC. In this case, because of the acts that were committed and the charges brought against the LLC by the Federal Trade Commission and others, the assets of both defendants were frozen by the court.
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