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Westminster Firm Accused Of Fraudulent Practices

DENVER (AP) — The Colorado attorney general's office has filed an administrative action against Westminster-based Prestige Financial Solutions.

It alleges the firm and its principal, Amy Thompson of Westminster, engaged in fraudulent debt management practices.

Prosecutors say the company did not comply with a series of disclosure requirements included in the Colorado Uniform Debt Management Services Act, including informing consumers of their right to cancel their contracts without penalty. The company also is accused of not refunding the fees consumers paid upon cancellation. A phone call to the company outside of business hours wasn't immediately returned.

The attorney general's office filed a similar lawsuit in December against Dallas-based Credit Solutions of America and its principal, Doug Van Arsdale of Frisco, Texas.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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