These deceitful individuals posed as representatives of the U.S. Department of Education, enticing students with the allure of "Biden Loan Forgiveness" and similar false promises.
In a significant development, the mastermind behind a fraudulent student loan debt relief operation will face severe consequences. As part of a settlement with the Federal Trade Commission (FTC), Marco Manzi will be permanently banned from the debt relief industry and compelled to surrender his assets.
This settlement brings an end to the FTC's charges against Manzi, Ivan Esquivel, and Robert Kissinger, who operated under various names such as Express Enrollment LLC and Intercontinental Solutions LLC.
These deceitful individuals posed as representatives of the U.S. Department of Education, enticing students with the allure of "Biden Loan Forgiveness" and similar false promises. Through their scheme, they managed to swindle approximately $8.8 million in unwarranted fees from unsuspecting students.
Check out ftc.gov/StudentLoans for tips on steering clear of student loan debt relief scams. For free help with student loans, head to StudentAid.gov.
The final order against Manzi's co-defendants, Esquivel, Kissinger, and the corporate defendants, was settled by the FTC in February 2024. The requirements imposed were similar to those in the proposed order.
The stipulated final order was approved by a 3-0 vote by the Commission. It was filed in the U.S. District Court for the Central District of California and approved on March 15, 2024. Carlton Mosley and Gregory Ashe from the FTC's Bureau of Consumer Protection are the staff attorneys handling this case.
Prior to this, Minnesota Attorney General Keith Ellison revealed that his office had reached a settlement with a student-loan debt-relief company. According to the press release, this company based in Santa Ana, California, had been engaging in deceptive practices and unlawfully collecting fees from customers.
The Attorney General alleged that the company had falsely promised student-loan forgiveness to consumers, despite only the federal government having the authority to forgive federal student loans. Instead, the company would enroll consumers in free federal repayment programs and charge exorbitant fees for doing so. This practice violated Minnesota law, which prohibits upfront fee collection for debt settlement services. Furthermore, the company had been operating without registering as a debt-settlement service provider, as required by Minnesota law.
To rectify the situation, SLFD Processing, the company in question, was ordered to pay $50,000 to the State of Minnesota. This amount was then used by the Attorney General's Office to provide restitution to affected consumers. Additionally, the settlement mandated that SLFD Processing could only resume operations in Minnesota if it registered as a debt-settlement service provider.
“Minnesotans take out student loans in good faith so they can get educations that will help them afford their lives. We’re showing once again that when companies take advantage of that good faith to rip off Minnesotans, we will come after them,” Attorney General Ellison said. “I encourage any Minnesotan who’s been preyed upon by this company or others like it to contact my office so we can hold these bad actors accountable.”
The settlement highlighted the company's violations of Minnesota's Debt Services Settlement Act, Prevention of Consumer Fraud Act, and Uniform Deceptive Trade Practices Act. This decisive action by Attorney General Ellison's Office serves as a reminder that deceptive practices and unlawful fee collection will not be tolerated in Minnesota.
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