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October 5, 2015

Posted  October 5, 2015

The head of a sham debt relief operation agreed to a judgment of more than $7.9 million to settle FTC charges that he deceived consumers and charged them thousands of dollars while providing nothing in return. In a complaint filed in May 2014, the FTC alleged that the DebtPro 123 LLC defendants falsely told consumers their programs would settle all of their debts and repair their credit. Then they told them to stop paying and communicating with creditors, which led to more debt and worse credit because of accrued interest, late charges, creditor lawsuits, garnished wages, and sometimes bankruptcy. FTC

Tagged in: Financial and Investment Fraud,