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Tucker was CEO of AMG Services, a payday loan company that was found to charge undisclosed and inflated fees and used tribal entities in an attempt to violate state lending laws. [8] [9] In April 2012, the Federal Trade Commission filed a civil suit against AMG Services, Scott Tucker and others alleging that AMG engaged in illegal business ...
He teamed up with direct-mail merchandise company Fingerhut Companies Inc. in 2001 to start a new online store, Redtagbiz.com, which reported sales of $1 billion per year at one point. [3] [6] Between 1998 and 2008, Petters created a series of investment funds through which he raised in excess of $4 billion through a variety of Ponzi schemes ...
A search in a legal database showed her law firm sued a company called Apex Funding Source for predatory lending practices in February over a combined $1.2 million in loans.
LendingClub was initially launched on Facebook as one of Facebook's first applications. [9] [10] After receiving $10.26 million in a Series A funding round in August 2007, from venture capital investors Norwest Venture Partners and Canaan Partners, LendingClub was developed into a full-scale peer-to-peer lending company.
Scams and confidence tricks are difficult to classify, because they change often and often contain elements of more than one type. Throughout this list, the perpetrator of the confidence trick is called the "con artist" or simply "artist", and the intended victim is the "mark".
The fraudsters who promote affinity scams frequently are – or successfully pretend to be – members of the group. They often enlist respected community or religious leaders from within the group to spread the word about the scheme, by convincing those people that a fraudulent investment is legitimate and worthwhile.
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While there are no specific laws against predatory mortgage servicing abuses, [6] there are local, state, and federal laws against many of the specific practices commonly identified as predatory mortgage servicing abuses, and various state and federal agencies use the term as a catch-all term for many specific illegal activities in the mortgage servicing industry.