State shuts down penny auction site, orders refunds - CBS46 News

State shuts down penny auction site, orders refunds

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A CBS Atlanta investigation prompted the Georgia Governors Office of Consumer Protection to take action against Atlanta based

"They have agreed to go out of business and remain out of business and we intend to absolutely hold them to the letter of that agreement," said John Sours with the Governor's Office of Consumer Protection. 

CBS Atlanta News first reported four months ago how Wavee customers said they won items on the penny auction website but never received the products.

State officials said Wavee was operating illegally because they were not registered with the Georgia Auctioneers Commission. 

"What they have now agreed to do is pay restitution in excess of $200,000. They will also pay civil fines and penalties of $50,000 and establish a trust fund to compensate other people who may not have fully come forward," said Sours.

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