Thursday, Feb. 10, 2011 | 5:54 p.m.
A man accused of swindling consumers with false promotions and bogus business opportunity pitches will give up his million-dollar Las Vegas home as part of a settlement, the Federal Trade Commission announced Thursday.
Richard C. Neiswonger has twice been held in contempt of court for deceptively marketing business opportunities — violating an earlier court order — and for failing to give up assets to pay a multi-million-dollar judgment against him, officials said.
In 2007, Neiswonger was ordered to transfer the title of his Las Vegas home, valued at more than $1 million, to a court-appointed receiver and the court entered a $3.2 million judgment against him, FTC officials said. Neiswonger failed to make the payment.
The settlement mandates that Neiswonger will surrender his Las Vegas home and will dismiss all related appeals and release any claims against the receiver or the FTC, officials said.
The receiver's sale of the house will go toward paying the judgment, with $100,000 going to Neiswonger's wife, who jointly owned the home.
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