Coll – Financial Treason & Crime

Emilie Ruscoe, 14 April 2021

Online debt-settlement company SettleIt Inc. has agreed to pay $1.4 million to end U.S. Consumer Financial Protection Bureau claims that the company charged its customers for negotiating settlements with two creditors it was secretly affiliated with and steering the consumers into expensive loans with those companies.

The terms of a proposed judgment and order, filed Tuesday in California federal court, would require SettleIt to set aside about $647,000 to pay back the performance fees the company collected from consumers and pay a proposed $750,000 civil monetary penalty. The company neither admits nor denies the CFPB’s allegations. Continue reading “Article: Debt Settlement Co. Agrees To Pay $1.4M To End CFPB Claims”

07/21/198905/12/2020

Article: N.Y. Grand Jury Probes Stock Loan Practices

Article - Media

N.Y. Grand Jury Probes Stock Loan Practices

Steve Coll and David Vise

Washington Post, 21 July 1989

NEW YORK, JULY 20 — The Manhattan U.S. attorney is conducting a criminal investigation of Wall Street’s lucrative securities lending business, focusing on an official of Shearson Lehman Hutton Inc., according to documents and sources familiar with the case.

Subpoenas issued as part of the grand jury investigation, while not stating the precise target of the probe, have requested witnesses to provide records about investments, transactions and accounts involving Dennis Palmeri, who supervises all of Shearson’s stock loan operations.

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