Wednesday, November 17, 2004

Latest Consumer Credit Counseling Scam action

Well, someone at the FTC decided to move against one of the worst of the squaliforme enablers.

Better Budget Financial Services (BBFS) and its principals, John Colon, Jr. and Julie Fabrizio-Colon, have defrauded consumers out of hundreds or thousands of dollars each, causing many to be sued by their creditors and forcing others into bankruptcy. The FTC has asked the court to award consumer redress to the victims of this scam. On November 3, 2004, the court entered a temporary restraining order halting the defendants’ illegal business practices, freezing their assets, and appointing a temporary receiver pending a preliminary injunction hearing.

As good as that FTC announcement sounds, the problem is the Colons have been stealing people's money for FOUR YEARS!

Restitution? Sure, sounds great. Doesn't work. Frozen assets? Only the ones they know of. The Colons have their wealth protected somewhere, you can bet.

Victims of squaliformes get pennies on the dollar in these kinds of cases. The slowness to act on complaints only helps the crooks amass personal wealth that won't be found, let alone touched.

I guess justice on the other side of the Pecos is a bit different than 'round here.

The Honorable Judge Roy Bean.

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