The Superintendence of Industry and Commerce, SIC, has sanctioned the Cossio SAS Group, led by influencer Yeferson Cossio, with a hefty fine of $813,002,240 for engaging in misleading advertising practices. The decision comes after the SIC conducted investigations and found that Cossio had been making false promises to his followers regarding his product ‘Método Cossio’, claiming that they would see significant short-term gains.
The SIC highlighted statements made by Cossio, such as “What are you going to think in five months, when all those who did buy the course are covered in followers, in money?”, and “forty-nine dollars can be a lot, obviously for some people, but they can literally get rid of that with their first video.” The Consumer Protection Investigations Directorate also found that the results promised in the advertisements were not realistically achievable and lacked true support.
It was reported that at least 23,300 people who purchased the ‘Cossio Method’ were misled by the false advertising, leading to confusion and deception among consumers. The SIC emphasized that the misleading content created by Cossio did not align with reality and could have led to harm among consumers.
The influencer has been hit with a substantial fine for his misleading advertising practices. This serves as a warning to other influencers and content creators to uphold honesty and transparency in their marketing strategies to protect consumers from false promises and deceptive practices.