FTC Returning $16M To Victims Of Debt Relief Scheme

Law360 (July 15, 2020, 7:03 PM EDT) -- The Federal Trade Commission has announced it is sending more than $16 million to victims of a debt relief scheme that plunged numerous consumers into bankruptcy instead of helping them pay off or settle their debts.

The FTC said Tuesday that the funds would be sent out in 27,083 refund checks to victims of the scam. The agency and Genovese Joblove & Battista PA shareholder Jonathan E. Perlman, who has led the recovery efforts as a court-appointed receiver for 321 Loans Inc. and more than 30 other related entities involved in the scam, said they are continuing the recovery efforts and hope...

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