FDA, FTC slam 7 companies selling bogus COVID-19 cures

CALGARY - DECEMBER 23: LITTLE BIG MAN, theatrical movie originally released December 23, 1970. The film was directed by Arthur Penn. Pictured, Martin Balsam (as Mr. Allardyce T. Meriweather), a traveling swindler and snake oil salesman.

As the new coronavirus sweeps the US, federal regulators this week began cracking down on companies fraudulently claiming that their products prevent or treat COVID-19.

The US Food and Drug Administration (FDA) and the Federal Trade Commission (FTC) sent joint warning letters to seven companies making false claims.

“There already is a high level of anxiety over the potential spread of coronavirus,” FTC Chairperson Joe Simons said in a statement. “What we don’t need in this situation are companies preying on consumers by promoting products with fraudulent prevention and treatment claims.”

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