Dave Ramsey faces $150 million lawsuit for promoting company accused of fraud

Dave Ramsey, a Christian radio host and personal finance guru, faces a $150 million lawsuit filed by some listeners of his show who allege they were defrauded by a timeshare exit company that advertised on his program. 

The suit, filed in the U.S. District Court for the Western District of Washington in April, claims Ramsey received more than $30 million between 2015 to 2021 to promote Timeshare Exit Team on The Ramsey Show. The Washington state-based company, which now operates as Reed Hein & Associates, allegedly promised to help customers terminate their timeshare contracts, which are notoriously difficult to exit. 

Reed Hein charged between $4,000 and $72,000 for "illusory services," according to the complaint, which alleges customers paid a total $70 million in fees for people to be released from their timeshares. The suit said Timeshare Exit Team failed to help customers and instead employed "false statements and delay tactics" to "stave off the customers' realization that they were being defrauded."