On October 21, 2019, the Bureau filed payday loans Arizona a problem and desired a restraining that is temporary and preliminary injunction in federal court within the Central District of California against Consumer Advocacy Center Inc., d/b/a Premier Student Loan Center (Premier); real Count Staffing Inc., d/b/a SL Account Management (real Count); Prime asking LLC, d/b/a Financial Preparation Services (Prime); Albert Kim; Kaine Wen; and Tuong Nguyen. The Bureau alleges your debt relief organizations run as a common enterprise and have actually engaged in misleading methods and charged illegal advance charges associated with the advertising and sale of education loan debt settlement solutions to customers. The Bureau additionally alleges the people significantly assisted the education loan credit card debt relief businesses. The problem additionally names a few relief defendants and seeks disgorgement of these relief defendants’ ill-gotten gains. The court granted the ask for the short-term restraining order on October 21, 2019. The court entered a stipulated initial injunction on November 15, 2019. The Bureau filed an amended grievance on 24, 2020 february. The Bureau’s amended issue seeks an injunction against defendants, along with damages, redress to customers, disgorgement of ill-gotten gains, therefore the imposition of a civil cash penalty. The amended grievance additionally names a few defendants that are additional relief defendants.
On August 26, 2020, the court entered a corrected, amended stipulated judgment that is final to defendants Prime and Horizon Consultants LLC (Horizon).
your order imposes a judgment of $95,057,757 against Prime to give you redress to customers.
Horizon is jointly and severally accountable for $12,942,045 with this quantity. Complete repayment of those quantities is suspended centered on Prime’s and Horizon’s demonstrated incapacity to cover following, on top of other things, their return of assets and their repayment of a $1 civil cash penalty to your Bureau. Your order additionally bans Prime and Horizon from telemarketing or offering or debt that is providing solutions. On August 28, 2020, the court joined a stipulated judgment that is final purchase as to defendant Tuong Nguyen and relief defendant TN Accounting Inc. The order imposes a judgment of $95,057,757 against Nguyen to supply redress to customers. Relief defendant TN Accounting is jointly and severally responsible for $444,563 for this quantity. Full payment of those quantities is suspended predicated on their demonstrated failure to cover following, on top of other things, Nguyen and TN Accounting’s turnover of assets and Nguyen’s repayment of a $1 money that is civil to your Bureau. Your order additionally bans Nguyen from telemarketing or offering or debt that is providing solutions.
On September 8, 2020, the court joined a stipulated last judgment as to relief defendants support the Door Corp. and Mice and guys LLC. Your order imposes a judgment of $1,638,687 against relief defendant support the Door and $5,041,069 against relief defendant Mice and guys to present redress to customers. Comprehensive repayment of those quantities will soon be suspended predicated on their inability that is demonstrated to after their return of assets.
On December 15, 2020, the court joined a standard judgment against First Priority LLC and real Count Staffing Inc. Your order imposes a judgment of $55,360,817.14 and $165,848.05 against True Count and First Priority, correspondingly, to produce redress to customers. Your order additionally requires real Count to spend a $30 million penalty, of which $29,850,000 is payable towards the Bureau. Moreover it requires First Priority to pay for $3.75 million in charges, of which $2,470,000 is payable into the Bureau. Your order additionally bans the defaulted defendants from telemarketing or offering or debt that is providing solutions. The outcome stays pending resistant to the staying defendants.