Career notes: Financial and Legal Aspects of the Infomercial

             Orlando Infomercial :
           Millionaire Couple Freed on Bail

           ORLANDO, Fla. (Reuters) - A Florida couple who made
           millions in the infomercial business were free on $3
           million bond Friday after spending two days in jail on
           numerous fraud charges, the U.S. Attorney's Office said.

           William McCorkle, 31, and his wife, Chantal, 29, were
           accused of defrauding customers nationwide out of
           possibly more than $28 million, Assistant U.S. Attorney
           Paul Byron said.

           ``The indictment spells out what we perceive to be a
           misinterpretation,'' Byron said of the couple's
           infomercials, short films which are in fact an advertising
           medium.

           The McCorkles returned to Orlando from a Mexican
           vacation Tuesday to face a 90-count fraud and
           money-laundering indictment issued the week before,
           Byron said.

           U.S. Magistrate James Glazebrook permitted the couple
           to be released from Seminole County Jail Thursday after
           it was confirmed bond money would be wired from their
           Cayman Islands bank account.

           The couple's infomercials were 30-minute television
           pitches for videotapes explaining how people could find
           and purchase either depressed and pre-foreclosed
           properties or those being sold at government auctions.

           But Byron said part of the deal offered in the
           infomercials was that consumers could use the
           McCorkle's money to fund purchases if they could not
           afford them themselves, which the government has
           charged did not always take place.

           ``In the indictment, we have listed numerous examples
           of individuals that either didn't get partnership or had
           difficulty getting refunds,'' Byron said.

           McCorkle and his wife both appear in the infomercials,
           which show them walking to and from a mansion, riding
           in a jet and talking with satisfied customers.

           Byron said defense lawyer Mark Horwitz had said the
           infomercials stopped being aired a week ago. Horwitz
           also said the couple ran a legitimate business.

Return to Curriculum