True Beginnings Files for Bankruptcy Protection
- Saturday, August 11 2012 @ 11:43 am
- Contributed by: Editor
- Views: 1,570
It looks like True Beginnings (aka True.com) is seeking Chapter 11 bankruptcy protection. They filed in Texas Federal court last week along with the owner Herb Vest. According to the filings True.com owes between $50 and $100 million to their creditors in amounts up to $10 million.
True.com claim to fame was their stance against married people and criminals joining their dating site. According to True they screen all members against a United States criminal database before they are allowed to communicate on the service. They also state on their homepage “TRUE reserves the right to report violators to appropriate law enforcement …”. Violators would be married people who report themselves as single and people who say they have no criminal record when in fact they do. Violators could be accused of fraud since they potentially violated the True.com Privacy and Use Policies.
For more on this story you can check out the Dallas Business Journal.
True.com claim to fame was their stance against married people and criminals joining their dating site. According to True they screen all members against a United States criminal database before they are allowed to communicate on the service. They also state on their homepage “TRUE reserves the right to report violators to appropriate law enforcement …”. Violators would be married people who report themselves as single and people who say they have no criminal record when in fact they do. Violators could be accused of fraud since they potentially violated the True.com Privacy and Use Policies.
For more on this story you can check out the Dallas Business Journal.
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