Consumer Law
Consumer Protection
Forensic Audit Mortgage Scam
Federal Trade Commission v. Consumer Advocates Group Experts LLC, et al.
Published: Feb. 23, 2013 | Result Date: Feb. 1, 2013 | Filing Date: Jan. 1, 1900 |Case number: 2:12-cv-4736 Settlement – $3,500,000
Facts
The Federal Trade Commission filed a complaint against Consumer Advocates Group Experts LLC, which allegedly preyed on vulnerable homeowners by luring homeowners into paying $1.995 million or more with allegedly empty promises regarding foreclosure avoidance and mortgage negotiations.
Result
The parties agreed to settle the matter. Consumer Advocates Group, its owner and related companies were banned from marketing any mortgage assistance relief or other debt relief products or services and also from making any misleading claims about any financial product or service. The settlement also imposed a $3.5 million judgment, which is suspended.
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