Well a few years ago there was an ad being shown everywhere on TV and on the side of busses and carried around on a truck all over the city with CEO Todd Davis’s social security number. He claimed his company could protect anyone from being a source of identity theft.
Not long after these ads started running someone used Todd Davis’s social security to secure a loan for $500. Just enough to show his service was bunk but not enough to make a federal case of the whole situation.
Finally LifeLock has been exposed in court and fined $12 million dollars for deceptive business practices by the federal trade commission. Arizona state court went as far as to label LifeLock as a con operation. Lifelock has obtained millions of dollars in fees, far more than the $12 million dollars they are being fined, but they also have personal information and credit rating for many many of their customers. Check out this article in wired magazine. Also if you were a LifeLock customer your entitled to some refund money so get in contact with the Arizona attorney general’s office.
This is not the first time LifeLock has come under scrutiny. It seems the founder Robert Maynard Jr, who supposedly stole his fathers identity to obtain an American Express Card. Now the company lawyers have investigated into this case and other charges involving gambling debts and a previous company bankruptcy, however to this time nothing has been proven and Maynard has not been charged formally be any other attorney general However he did step down from his post as co-founder of lifeLock in 2007.
