Federal regulators and seven states are suing a New York-based debt relief company, claiming it bilked financially struggling customers out of more than $100 million in illegal and exorbitant fees without actually providing any debt relief.
The Consumer Financial Protection Bureau and the attorneys general of Colorado, Delaware, Illinois, Minnesota, New York, North Carolina and Wisconsin have filed a lawsuit against Strategic Financial Solutions, known as SFS, and its network of shell companies.
The CFPB and attorneys general are also suing company CEO Ryan Sasson and Jason Blust, whom they identify as the chief architects of the illegal enterprise.
Consumers who were struggling financially and may well have been desperate to reduce thei…
Read the full article at: https://www.forbes.com/advisor/debt-relief/cfpb-debt-relief-fraud-lawsuit/