Our firm investigates business entities that have committed some form of fraud or deceptive business practice, which has harmed a group of consumers in a similar manner. We have successfully resolved numerous consumer fraud claims, helping thousands of people recover their losses. For the last six decades, our firm has stood up to unscrupulous corporate organizations to help consumers in a wide range of consumer fraud matters.
Authorities in California recently filed a lawsuit involving seven companies and thousands of homebuyers in Southern California.
Seven arrests were also made in the bust and Attorney General Jerry Brown says his office is seeking restitution of more than $20 million in a 25-year-old scam led by real estate agent Eric Pony.
Suit Filed for Fraud
The suit claims that the group tricked consumers into agreeing to excessive loans and house payments that were unaffordable.
"This is among the worst we've ever seen," explains Brown. "This is not just exaggeration; this is straight out deliberate stealing and fraud."
Those named as defendants are accused of forging client signatures when they refused to sign paperwork.
The suspects were arrested for conspiracy, grand theft, forgery and elder abuse.
Crime Ring Revealed
The attorney general reportedly closed the companies and took control of 16 properties in Los Angeles, Las Vegas and San Antonio worth more than $6 million.
The companies, Lifetime Financial Inc., Nations Mortgage Inc. and Greenleaf Lending Inc. organized loans that often required payments that were higher than the consumer's entire monthly income.
As a result, several customers lost their homes due to the transactions.
(Source: BusinessWeek)
Have you been the victim of consumer fraud? If so, please contact us to speak with an experienced and trustworthy attorney who will enable you to be compensated for any financial losses.
Consumer fraud class action lawsuits are specifically designed to help individuals who have been similarly aggrieved to pursue a common goal – namely to hold the deceptive business accountable for any damages suffered. Thus, consumers who have been defrauded by a corporation or other entity may file a consumer fraud class action lawsuit on behalf of themselves and others to seek compensation for their shared grievance.
If you feel you have been the victim of consumer fraud or any type of fraud, please contact us to learn about your legal rights and options. WE VALUE YOUR PRIVACY: any information you provide on this secure form will be held in the strictest confidence and will only be used by our attorneys to determine how we can help you.