Too Good To Be True – LifeLock Simply Doesn’t Live Up To The Hype
Todd Davis’s identity has been stolen at least 13 times. Davis is CEO of LifeLock, a company that sells anti-identity-theft services, and their ads feature Davis’s Social Security Number (because their service works so well he can afford to publicize his SSN without being compromised. Collection agencies across the country are trying to get him to cough up for debts that other people have racked up with the SSN they cleaned from the ad.
LifeLock has already been fined $12,000,000 by the FTC for deceptive advertising!
The Phoenix New Times has a long, investigative story on LifeLock’s business practices and the (in)efficacy of its services. It’s a pretty comprehensive look at how to make something that doesn’t work very well and compound that with bad business practices.
LifeLock’s co-founders, Richard Todd Davis and Robert J. Maynard Jr., told reporters across the country that Maynard had once spent a week in the Maricopa County jail, falsely accused of crimes, because his identity had been stolen. The 2003 incident was the inspiration for the company, they said.Official records and interviews with authorities in Nevada proved the story a fable. Maynard had been arrested and jailed here, all right — because he’d failed to pay back a $16,000 gambling marker at the Mirage casino in Las Vegas. Like bouncing a check, that’s a crime. Nevada authorities dropped the charges after Maynard, from his cell, managed to scrape together the cash.
The article also revealed that Maynard, the Valley businessman who was principally behind LifeLock during its 2005 inception, was banned for life in the 1990s from the credit-repair industry.
Then there was this ironic tidbit: Maynard’s own father, Valley optometrist Robert Maynard Sr., accused him of identity theft.