(CLEVELAND) – Ohio Attorney General Mike DeWine today announced a lawsuit against Cleveland-area resident Steven Sigman for running an online investment operation that took hundreds of thousands of dollars from international consumers and failed to deliver on its promises. The lawsuit charges Sigman, doing business as Company Express, with violations of Ohio's Consumer Sales Practices Act.
"This individual has been operating websites promising guaranteed returns on investments, taking hundreds of thousands of dollars from consumers out of the country, and providing nothing in return," said Attorney General DeWine. "Failure to deliver is the same concept in any country – it is a consumer rip off and the perpetrators need to be held accountable."
Steven Sigman operated Company Express in Mayfield Heights, Ohio and various other websites that offered Internet marketing and "multiple income stream" generators.
In complaints filed with the Ohio Attorney General's Office, consumers say that they paid monthly fees or made advance deposits in order to receive interest compounded daily at 0.5% to 1.25%. Despite Sigman's promises, consumers say the business failed to fulfill its guarantees and eventually shut down with no advance notice to consumers.
The Ohio Attorney General's Office has received more than 170 complaints against Company Express since December 2011. All of the consumers reside in Hungary with the exception of one complainant from Italy.
The Attorney General's lawsuit charges Steven Sigman, doing business as Company Express, with violating Ohio's Consumer Sales Practices Act by failure to perform services and failure to deliver. In the lawsuit, the Attorney General seeks injunctive relief, civil penalties, and consumer restitution.
Consumers who have complaints against Steven Sigman, Company Express, or any other business operated by Steven Sigman should file a complaint with the Ohio Attorney General's Office at www.OhioAttorneyGeneral.gov or 800-282-0515.
Company Express/Sigman lawsuit (PDF)
Lisa Peterson-Hackley -- 614-466-3840
Eve Mueller -- 614-466-3840