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March 18, 2016

Posted  March 18, 2016

A California district court ordered debt relief company Morgan Drexen, Inc., to pay $132,882,488 in restitution and a $40 million civil penalty for charging illegal upfront fees and deceiving consumers.  The order follows a preliminary injunction prohibiting the company from collecting any more money from customers and a default judgment entered against the company for misleading the court and “act[ing] willfully and in bad faith by falsifying evidence.”  The court’s findings regarding Morgan Drexen’s bad faith were based, in part, on testimony from a whistleblower who exposed the company’s conduct.   CFPB