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==Controversy== |
==Controversy== |
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Robert J. Maynard, Jr., one of the co-founders of the company resigned after it was revealed that he had once been accused of |
Robert J. Maynard, Jr., one of the co-founders of the company resigned after it was revealed that he had once been accused of having been an identity thief himself. <ref name=msnmoneyfounderresign/> Maynard spent several days in a [[Maricopa County]] Jail in 2003 because of an [[alleged]] unpaid $16,000 [[Credit (casino)|casino marker]] from the [[The Mirage|Mirage]]. Maynard came up with the plan for LifeLock while sitting in his jail cell, so other people could avoid being victimized by identity thieves. While it's true Maynard spent that time in jail, he was ''not'' the victim of identity theft. The $16,000 casino marker was his. The Mirage had gotten a copy of his Arizona driver's license when it made him the loan.<ref name="Phoenix New Times">{{cite web |
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| title =What Happened in Vegas... |
| title =What Happened in Vegas... |
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| url =http://www.phoenixnewtimes.com/2007-05-31/news/what-happened-in-vegas/ |
| url =http://www.phoenixnewtimes.com/2007-05-31/news/what-happened-in-vegas/ |
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| accessdate = 2007-05-31}}</ref> |
| accessdate = 2007-05-31}}</ref> |
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In 2007, it was reported that the founder and CEO of LifeLock, Todd Davis, became the victim of fraud when someone used his published social security number to obtain a $500 loan.<ref name="cnn20080522">{{cite web |url=http://www.cnn.com/2008/CRIME/05/22/lifelock.flap.ap/index.html?eref=ib_technology |title=Fraud-prevention pitchman becomes ID theft victim |accessdate=2008-05-22}}</ref> |
In 2007, it was reported that the founder and CEO of LifeLock, Todd Davis, became the victim of fraud when someone used his published social security number to obtain a $500 loan.<ref name="cnn20080522">{{cite web |url=http://www.cnn.com/2008/CRIME/05/22/lifelock.flap.ap/index.html?eref=ib_technology |title=Fraud-prevention pitchman becomes ID theft victim |accessdate=2008-05-22}}</ref> LifeLock apparently investigated the crime and found the alleged criminal. In an agreement with LifeLock, the alleged identity thief agreed on camera to perform community service to avoid prosecution. However, Police then claimed that the alleged idenity thief could not be prosecuted because LifeLock coerced the suspect into making a videotaped confession that isn't admissible in court.<ref name="infoworld">{{cite web |
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| title =Dumb, dumber, and Davis |
| title =Dumb, dumber, and Davis |
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| url =http://weblog.infoworld.com/robertxcringely/archives/2007/07/dumb_dumber_and.html |
| url =http://weblog.infoworld.com/robertxcringely/archives/2007/07/dumb_dumber_and.html |
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| accessdate = 2008-03-20 }}</ref><ref name="cnn20080522" /> |
| accessdate = 2008-03-20 }}</ref><ref name="cnn20080522" /> |
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A class action lawsuit alleges that as of 2008, there are at least 25 people using Todd Davis' social security number and that the advertising claims are misleading. The Company has responded demonstrating that the 25 alleged identity theives are public records of failed attempts to use Todd Davis' identity. <ref name="wvgazette.com">{{cite web |
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| title =ID theft protection firm sued |
| title =ID theft protection firm sued |
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| url= http://www.wvgazette.com/News/200805172662 |
| url= http://www.wvgazette.com/News/200805172662 |
Revision as of 21:30, 4 August 2008
Company type | Privately held |
---|---|
Founded | 2005 |
Headquarters | , |
Website | http://www.lifelock.com |
LifeLock, founded in 2005, is a personal fraud protection company.[1] For a fee, the company once every 90 days asks for a fraud alert on your file by calling Experian (1-888-397-3742), Equifax (1-800-525-6285) or TransUnion (1-800-680-7289) (the three major credit bureaus) who communicate this information to each other.[2][3] Experian has accused LifeLock "of deceiving consumers about the breadth of its protection and abusing the system for attaching fraud alerts to credit reports."[4]
Marketing
Lifelock's Web site[2] states: "Our Guarantee: If your Identity is misused while you are our client, we’ll spend up to $1,000,000 to make it right." The television ads, featuring a truck advertising CEO Richard Todd Davis' Social Security Number (457-55-5462), boasts the same.
Former United States Senator and 2008 US Presidential candidate Fred Thompson, as a part of his ABC contract, recorded a radio spot for LifeLock. In these commercials, Thompson recounts a tale of military heroism in Iraq, then introduces himself and says the company’s service can stop identity theft. [5] Other celebrity spokespersons for LifeLock have included Howard Stern, Paul Harvey, and Rush Limbaugh. [1]
Controversy
Robert J. Maynard, Jr., one of the co-founders of the company resigned after it was revealed that he had once been accused of having been an identity thief himself. [1] Maynard spent several days in a Maricopa County Jail in 2003 because of an alleged unpaid $16,000 casino marker from the Mirage. Maynard came up with the plan for LifeLock while sitting in his jail cell, so other people could avoid being victimized by identity thieves. While it's true Maynard spent that time in jail, he was not the victim of identity theft. The $16,000 casino marker was his. The Mirage had gotten a copy of his Arizona driver's license when it made him the loan.[6]
In 2007, it was reported that the founder and CEO of LifeLock, Todd Davis, became the victim of fraud when someone used his published social security number to obtain a $500 loan.[7] LifeLock apparently investigated the crime and found the alleged criminal. In an agreement with LifeLock, the alleged identity thief agreed on camera to perform community service to avoid prosecution. However, Police then claimed that the alleged idenity thief could not be prosecuted because LifeLock coerced the suspect into making a videotaped confession that isn't admissible in court.[8]
In February of 2008, the credit information company Experian sued LifeLock for fraud and false advertising. Experian alleged that LifeLock initiated false credit fraud alerts on Experian customer accounts and misled the public as to the necessity of its services.[9][7]
A class action lawsuit alleges that as of 2008, there are at least 25 people using Todd Davis' social security number and that the advertising claims are misleading. The Company has responded demonstrating that the 25 alleged identity theives are public records of failed attempts to use Todd Davis' identity. [10]
On May 29, 2008 in an interview with talkshow host Mike McConnell on WLW, Todd Davis claimed that out of a total of 88 attempted thefts of his identity, only the $500 payday advance loan was a success, which was not the fault of LifeLock, because the lender failed to check the validity of the thief's claim.[11]
References
- ^ a b c "LifeLock founder resigns amid questions about his past". bizjournals.com. 2007-06-12. Retrieved 2007-06-19.
- ^ a b LifeLock Identity Theft Protection & Identity Theft Prevention Products
- ^ Dumb, dumber, and Davis published July 26, 2007
- ^ CNN article Fraud-prevention pitchman becomes ID theft victim published May 22, 2008
- ^ "An awkward ad by Fred Thompson". Retrieved 2007-06-16.[dead link]
- ^ "What Happened in Vegas..." Retrieved 2007-05-31.
- ^ a b "Fraud-prevention pitchman becomes ID theft victim". Retrieved 2008-05-22.
- ^ "Dumb, dumber, and Davis". Retrieved 2008-01-10.
- ^ "Experian Sues LifeLock For 'Abusing' Fraud Alert System". Retrieved 2008-03-20.
- ^ "ID theft protection firm sued". Retrieved 2008-05-20.
- ^ "Midday with Mike McConnell on 700wlw Podcast". Retrieved 2008-05-29.