The principal in My Pet TV has gained a two-week delay of a
permanent injunction sought against him by the Federal Trade Commission in U.S. District
Court for the Central District in California.
Michael Marcovsky, president, chairman and CEO of the
network, which cablecast such shows as Lifestyles of the Rich and Furry, asked for
the delay to prepare his case.
Sheldon Altfeld, described in court documents as a fund
manager for Children's Cable Network -- which went out of business earlier this year,
but not before it transferred its remaining funds to My Pet TV -- accepted the injunction
at the Aug. 17 preliminary hearing, according to the FTC.
Neither could be reached for comment.
The FTC has already obtained a temporary restraining order
against My Pet TV, frozen its assets and placed it in receivership. The network and
several other telemarketing-based businesses were recently served with cease-and-desist
orders as part of a national FTC investigation called "Operation Risky
Business." The order said the operations returned little or no value to consumers in
return for their investments.
Attorneys for the investors -- who have filed a potential
class-action suit against CCN, My Pet TV, Marcovsky, Altfeld and others in Los Angeles --
were encouraged by the FTC action.
"The FTC action will accomplish the same goal. If they
can get a judgment, and some of the funds are traceable to [investors], we can obtain it
from them," attorney Brian Kabatek said. His fear, however, is that less than $1
million remains of the approximately $16 million invested by consumers across the country
in what was originally called CCN.