Bogus credit repair scheme operators settle FTC charges

Bogus credit repair scheme operators settle FTC charges
News from ConsumerAffairs:

The operators of a bogus credit repair scheme that allegedly tricked Spanish-speaking consumers into paying thousands of dollars each to supposedly improve their credit have settled the charges with the Federal Trade Commission (FTC).

A federal court complaint filed in March claims the defendants did business using the name FTC Credit Solutions, misleading consumers not only about the nature of the alleged credit repair services they offered, but also claiming an affiliation with the FTC that did not exist.

“These defendants were shameless. They scammed consumers who were in need of financial help and used the good name of the Federal Trade Commission to do so,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection.

According to the FTC, the defendants — First Time Credit Solution, Corp., Guillermo Leyes, Jimena Perez, Fermin Campos, and Maria Bernal — violated the FTC Act by claiming to be affiliated with or licensed by the Federal Trade Commission. They are also accused of falsely promising they could remove negative information from consumers’ credit reports and guaranteeing consumers a credit score of 700 or above within…………… continues on ConsumerAffairs

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Related News:

Miami-Dade officer pleads guilty to fraud for role in credit-repair ring
News from Miami Herald:

Moonlighting on the job, a Miami-Dade County cop wrote 159 police reports claiming people with bad credit histories were “victims” of identity theft, according to court records.

The reality: Veteran Miami-Dade police officer George Price fabricated the reports and sold them so they could be used to remove blemishes from the purported victims’ credit histories.

Price, 42, pleaded guilty to a conspiracy charge Friday for his supporting role in an alleged credit-repair ring. Price, who joined the force in 1999, must resign by next week.

He faces up to 20 years in prison on his fraud conviction, but is expected to receive a significantly shorter sentence because he pleaded guilty and has agreed to assist the FBI and U.S. attorney’s office in their investigation, according to a plea deal signed by Price, his defense attorney, Marshall Dore Louis, and the prosecutor, Michael Davis.

In the end, Price didn’t make much for exploiting his badge: $ 7,000. He must turn over to the feds the bribery payments he received in 2010-11.

Price was not operating alone.

Through an intermediary, he was working for Vanessa and Mario Perez, a Miami-Dade couple who already pleaded guilty. They made more than $ 322,000 by clearing up the lousy credit reports of people with bad bill-paying histories, according to court re…………… continues on Miami Herald

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