Tag Archive for Charges

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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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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The industry that charges low-income Americans to fix credit errors they can …

The industry that charges low-income Americans to fix credit errors they can …
News from Washington Post:

Kimberly Cox had found a fast-growing and controversial industry that charges Americans to assist them with relatively basic financial repair. (Russ Scalf/For The Washington Post)
February 6

…………… continues on Washington Post

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Easy, Free Ways To Clean Up Your Credit Record
News from CBS Local:

Related: Concerns Surround Twin Cities Credit Repair Company

MINNEAPOLIS (WCCO) – They are companies that claim to clean up your credit — for a price. But the growing industry of credit repair is surrounded by controversy.  WCCO-TV looked into one such business under fire for its business practices in Burnsville.

Complaints against United Credit Consultants have piled up for years. Some clients are suing, saying the company didn’t fix their credit scores. and some employees are saying they haven’t been paid.

United Credit Consultants’ CEO calls the complaints growing pains and says its service works.

If you’re one of the millions of people with a poor credit score, you might be wondering what power you have to improve it.

Darryl Dahlheimer is financial services program director at Lutheran Social Service of Minnesota.

“I always feel bad when people are paying for a service that shoul…………… continues on CBS Local

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Court Halts Credit Repair Scammers in Response to FTC Contempt Charges

Court Halts Credit Repair Scammers in Response to FTC Contempt Charges
News from Statesboro Business News:


Allen Harkleroad


A U.S. district court granted a Federal Trade Commission request and has temporarily shut down a Florida-based operation that allegedly continued to pitch bogus credit-repair services nationwide, despite a 2010 court order requiring it to stop. The new court order, which will remain in place while the FTC seeks a contempt ruling against the defendants for violating the original order, bars the scam operators from all activities involving credit repair, and from offering credit-related products, programs, or services.

In 2008, the FTC filed a complaint against Latrese and Kevin Hargrave and the firms they control, alleging that they advertised on the Internet and radio stations and charged $ 250 to $ 270 per person and $ 450 per couple for purported credit repair services, requiring half or all of the charge to be paid in advance. In a radio script, the defend…………… continues on Statesboro Business News

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Two Indian-Americans Indicted for Defrauding Hundreds in US
News from INDOlink:

Two Indian-Americans Indicted for Defrauding Hundreds in U.S. Email this page
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Washington: Two Indian-Americans in California were indicted today on charges of defrauding hundreds of home owners and other customers along with mail and wire fraud and international money laundering.

Sharanjit Kaur, 36, and Baljit Singh, 47, both of Fresno in California now faces sentencing of 20 years in federal prison and a $ 500,000 fine.

The indictment alleges that between July 2010 and June 2011, Kaur and Singh owned and operated several companies based in Fresno for the sole purpose of defrauding hundreds of customers throughout the US.

Kaur and Singh touted to potential customers that their businesses, Consumer Financial Services, Consumer Credit Repair and Client Financial Services, could provide debt consolidation services.

They also falsely promised that they could renegotiate debts wi…………… continues on INDOlink

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