Student Debt Firm Gets $53M Penalty For Ignoring NY AG Suit

Law360 (March 30, 2021, 10:20 PM EDT) -- A federal judge on Tuesday ordered a company accused of running a student debt relief scam and violating New York's usury cap to immediately pay $53 million in statutory penalties after it failed for years to respond to a suit filed by New York's attorney general.

U.S. District Judge Alison J. Nathan entered the $53,040,000 penalty order against Hutton Ventures LLC on Tuesday, noting that the full amount was due immediately, and as such interest at an unspecified rate would start accruing.

Hutton, which is headquartered in Santa Ana, California, is described in the latest version of New York Attorney General...

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