ATLANTA — The Governor’s Office of Consumer Protection has entered into a settlement with Wavee.com, ordering the company to pay restitution and forcing it out of business.
Under the settlement, Wavee must cease operations, provide $202,210.20 in consumer restitution and pay a $35,000 civil penalty and $15,000 in administrative expenses.
The settlement follows an OCP investigation which revealed that the auction company failed to send a number of purchased products to consumers in a timely manner and failed to clearly and conspicuously disclose that consumers were purchasing bid credits when they registered on Wavee’s website, state officials said.
“We appreciate everyone who has supported Wavee, and we have done our best to provide the best entertainment shopping platform,” a note on the site reads. “Unfortunately, due to many challenges with this business, Wavee is now out of business. We intend to ship out any remaining product(s) that you may be expecting.”
The website conducted “penny auctions” via its website.