News Formal

$3.3 million going to students scammed by California-based debt-relief company

  • 📰 mercnews
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 68%

United States News News

United States United States Latest News,United States United States Headlines

The FTC alleges Arete Financial Group tricked more than 37,800 students into making illegal, upfront payments.

Federal regulators are sending payments totaling $3.3 million to students who were bilked by an Orange County business claiming it would reduce their student loan debt.

The company used radio, television, online ads and telemarketing calls with the promise of student loan forgiveness, consolidation and repayment programs, the agency said. Representatives with Arete Financial and its affiliated businesses could not be reached for comment Wednesday. A settlement was reached the following year in U.S. District Court for the Central District of California when defendants Carey G. Howe, Anna C. Howe, Shunmin Hsu, Ruddy Palacios and Oliver Pomazi agreed to pay at least $835,000 to settle the FTC allegations.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 88. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

$3.3 million going to students scammed by OC-based debt-relief companyThe FTC alleges Arete Financial Group tricked more than 37,800 students into making illegal, upfront payments.
Source: ladailynews - 🏆 332. / 59 Read more »