AG Bondi Shuts Down Trio Of Broward Loan Schemes

FT LAUDERDALE (CBSMiami) - Florida's Attorney General's Office has shut down a trio of loan scams in which people were reportedly charged large fees for loan referral services that they could have easily performed on their own for free.

State Attorney General Pam Bondi said the outfits prey on cash strapped individuals and charged anywhere from 500 to more than $1,000 for loan referral services.

Temporary injunctions to shut down the business were filed against Liberty Unsecured Inc., Unsecured Loan Source II, Inc., First Solutions, Inc., d/b/a Credit One, Improvecredit.me, and Unsecured Loan Capital along with the men reportedly were were behind them - Andrew Mangini, Michael Puglisi and David Alan Stern.

In marketing and sales pitches, the companies reportedly made numerous false statements and deceptive representations to people seeking loans, according to the AG's office.

According to the complaint, their customers were misled to believe that the loans were guaranteed, the upfront fees were merely processing fees, and if they did not obtain loans they would be refunded the money they had paid.

The complaint also claims that the companies used bank information supplied by their customers to withdraw funds out of their accounts without their consent.

More than 200 complaints have been filed against the three companies.

A civil complaint remains pending with the court and seeks full refunds for all affected consumers.